Blockchain Skeps Decentralized Lending Industry Reaches $ 9.5 Million in Series A Financial Led by Bertelsmann

On September 2, decentralized blockchain lending firm Skeps announced the completion of its $ 9.5 million Series A funding, with Bertelsmann India Investments as venture capital and first investor in Accel. The new funds will be used to develop sales, marketing, engineering and product groups, expand the merchant and lender customer base, and develop additional services. Skeps uses the proprietary blockchain to create a compliant secure business loan. Supported loan rates over $ 1 billion in the past 18 months with an 80% approval rate. It offers similar solutions to real estate agents and lenders or banks. Skeps said banks can use their technology to compete with FinTech companies through Buy and Pay (BNPL). Rohit Sood, Member of Bertelsmann India, said: “Skeps is the most innovative financial solution we have adopted over the years,” said Rohit Sood, Member of Bertelsmann India.