Crypto data startup Accountable has secured $2.3 million in seed funding, with MitonC and Zee Prime Capital leading the round.
The funding will primarily support salaries as the company gears up for another fundraising round in 2025.
Accountable is building a privacy-centric platform that allows borrowers to verify their financial details—such as assets, liabilities, and trading exposure—and produce credit risk reports.
“We believe that new advances in cryptography have the potential to revolutionize information exchanges, as all valuable data will have verifiability levels and cryptographic proofs attached to it in the near future,” Accountable Chief Technology Officer IoanMoldovan said in a statement.
Accountable’s business model is based on the premise that cryptography has progressed enough to reliably evaluate a user’s creditworthiness using on-chain data. Unlike other platforms, such as the on-chain credit rating agency Credora, Accountable allows users to maintain privacy by not requiring them to share their API keys or wallet addresses. CEO Wojtek Pawlowski believes this approach avoids generating a “static” measurement.
Pawlowski revealed that Accountable is discussing becoming a data provider for Credora, a software-as-a-service-focused platform.
While there is “significant retail demand for crypto-based yields,” the aftermath of the bear market has led surviving lenders to enforce stricter collateral requirements and higher interest rates, constraining the market.
The platform utilizes “Zero-Knowledge Transport Layer Security,” a protocol that integrates zero-knowledge proofs with web-native Transport Layer Security to securely transfer data between blockchains and Web2. It also employs fully homomorphic encryption and other cryptographic techniques to accurately assess a user’s creditworthiness.
Through Accountable, users can generate a “comprehensive view” of their financial situation, enabling them to share sensitive financial information securely with counterparties. Pawlowski highlighted that traditional financial institutions are unlikely to expose their entire business models to participate in crypto markets, making this approach particularly appealing.
The platform’s versatile technology can be applied wherever data verification is needed. For example, exchanges or stablecoin issuers can use it to provide real-time proof of assets and liabilities without revealing their actual holdings, offering transparent “proof-of-reserve” reports while maintaining confidentiality.
“As a group with HFT trading at our core, accessing debt without compromising proprietary data is essential to maintaining our competitive edge,” CyantArb Group said in a statement, adding it is using the platform to safeguard its proprietary trading strategies while maintaining confidentiality with its lenders.
Established in response to the collapse of centralized crypto credit firms in 2022, the company focuses on developing cryptographic tools that enable secure interactions between borrowers and lenders.
By leveraging advanced encryption techniques, Accountable facilitates secure credit evaluations without requiring wallet disclosures and aims to expand its technology for use cases like proof-of-reserve reports.
