Points announces $8m in seed funding

Points, which is building a credit data exchange on top of the recently-launched Ontology blockchain, has pulled in $8 million in a funding round including DHVC, Cherubic Ventures, Ce Yuan, Ontology Foundation, Nest.Bio Ventures, and Zhong Cheng Xin Credit Technology.

“With the support of our VCs and partners, we’re excited to be able to launch the first and most accurate market-ready blockchain-based credit network,” says Sarah Zhang, Founder of Points. “Our vision is to serve the underrepresented community, and with blockchain as a core technology, we’re able to incentivise partners to participate in risk-free data sharing, which combined with AI, means truly accurate credit scores.”

“Among the few practical use cases for blockchain technology, Points has demonstrated a groundbreaking solution with its data collaboration protocol that can contribute to a solution for the world’s credit problems for the unbanked, but this is just the beginning,” comments Bin Zhang, CEO and Chairman of the Board at Zhong Cheng Xin Credit Technology and advisor of Points. “We’re excited to be partnered with and invested in this cause.”