Fortune

Blockchain Startup Symbiont Raises $20 Million to Take Aim at a Cause of the Financial Crisis

Blockchain Startup Symbiont Raises $20 Million to Take Aim at a Cause of the Financial Crisis

In 2007, at the cusp of the global financial crisis, Mark Smith helped found Anderen Bank of Tampa Bay—inadvertently buying himself a front row seat to the chaos and confusion that unleashed soon after, as giants such as Lehman Brothers crumbled.

He saw homes foreclosed upon, and watched as the nation struggled to understand how so many mortgages had been made to borrowers unable to repay those loans. And in aftermath, he observed the backlash from investors and banks that say the post-crisis regulation has crippled their ability to grow profits.