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Spring Labs
Secure data exchange for financial services
- 21-100 employees
- B2B
- Financial Services
- SaaS
- Data Sharing
- Los Angeles, CA
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Company mission
To revolutionise and modernise how financial institutions exchange data.
-5% employee growth in 12 months
Our take
Spring Labs’ Spring Protocol network leverages blockchain technology and cryptography to allow users (mainly financial institutions) to securely share key information about data, without sharing the actual data itself. By doing this, companies can protect consumer data while still sharing information among themselves to verify identities, tackle fraud, and predict the credit worthiness of people who are outside of the traditional credit bureau system.
That publicly listed company TransUnion is a major investor in Spring Labs speaks to the value the Spring Protocol network can offer legacy institutions in their analysis and decision making processes. It also has the potential to unlock greater financial access for consumers, since around 40 million US citizens don’t have a credit score.
TransUnion’s partnership in turn allows the company to accelerate and scale up its operations, having gained access to both its industry expertise, sales force, and customer base.
Steph
Company Specialist at Welcome to the Jungle
Benefits
- Work from home opportunities
- Health insurance
- Equal opportunity employer
- 401k plan
- Flexible paid time off
- Vision and dental insurance
Funding (last 2 of 3 rounds)
May 2021
$30m
SERIES B
Jun 2019
$23m
SERIES A
Total funding: $67.8m
This company has top investors
Leadership
Adam Jiwan
(Co-founder, CEO & Chairman)Adam studied at Harvard prior to working at Arkera, Echo Point Holdings, and Alignvest. They co-founded Spring Labs in 2017, alongside co-founding Digital Disembursements and Assembly Software.
John Sun
(Co-founder & President)John started their career as VP of Analytics at Enova Financial before founding SpringCoin in 2011 and Avant in 2012. They left their MD position in 2018, having co-founded Spring Labs the previous year.
Anna Fridman
(Co-founder )Having studied Law at UCLA, Anna joined Avant as General Counsel, where they worked for 4 years. They left in 2016 to co-found Spring Labs with John and Adam the following year.