“We tried to address some of the gaps in DeFi and realized there wasn’t just a gap in risk infrastructure and credit risk, it was just nonexistent,” Varghese said. “So looking at the larger context, credit risk infrastructure was gated by institutions in the West. In the East, credit institutions are controlled by the government. So we wanted to build a trustless, permissionless way to address credit risk analysis.”

https://techcrunch.com/2022/08/24/spectral-raises-23m-to-help-create-web3-credit-scores/