Zaria raises $5.2M as it seeks an OCC trust-bank charter
CEO Emily Barron founded Zaria after struggling to find a backup servicer for crypto-backed loans; the proposed bank charter remains pending.
By Ryan Merket · Published · Updated
Primary source: PR Newswire
Why it matters
Zaria is using venture funding to grow an operating loan-servicing platform while seeking federal authority to add trustee services. Its servicing business can expand before the OCC decides on the application; a charter could give the company a route to place more transaction functions with one provider.
Zaria Systems announced $5.2 million in seed funding led by Lightspeed Venture Partners, giving co-founder and CEO Emily Barron capital to expand its loan-servicing platform while pursuing a national trust-bank charter.…