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SALT
Crypto-backed loans
- 21-100 employees
- Fintech
- B2C
- Cryptocurrency
- Lending
- Blockchain
- Central Business District, Denver, CO
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Company mission
To build products that increase access to financial opportunities and give people more control over their ability to generate wealth over the long term.
-32% employee growth in 12 months
Our take
Notwithstanding the difficulties faced by the sector in 2022, crypto assets have entered the mainstream as a form of investment and saving. However, crypto holdings are not usually factored into credit checks, meaning that no matter how well-capitalized an investor is, they might not be able to access the level of credit that someone with equivalent fiat funds might receive. Since 2016, SALT Lending has existed to allow its customers to leverage their crypto holdings to take out loans for personal or business reasons, regardless of their credit scores.
While well-known in the crypto space, SALT Lending was hit extremely hard by the FTX collapse in late 2022. Due to its exposure to to the bank SALT was forced to pause lending from November, leading to an expected takeover bid being withdrawn and a severe shock to its business. SALT has since raised a Series A funding round, and plans to use the significant capital raised to clear its debts and resume lending in 2023.
By displaying transparency about its reserves it hopes to win back customers who were scared away by the sudden shutdown. Time will tell if this move will be enough to restore faith in SALT's product.
Freddie
Company Specialist at Welcome to the Jungle
Benefits
- Remote Work Set-up Stipend
- Monthly Remote Work Stipend
- Competitive Health Benefits
- Generous PTO
- 401(k) Matching
- Employee Recognition Program
- Equity Incentive Plan
- Virtual Team Events
Leadership
Benjamin Yablon
(Director)Is also Special Advisor to the OECD and Global Strategy & Compliance Lead with BurstIQ. Was previously a Partner at Atlas Law Group and an Attorney.