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Tomocredit Raises $10 Million In Series A Funding To Help Build Credit For First Time Borrowers

PRIVATESep 15, 2021•almost 5 years ago

Amount Raised

$10 Million

Round Type

Series A

San FranciscoInformation TechnologyFinancial ServicesSoftware

Description

TomoCredit, a fintech company offering a credit card focused on building a credit history for first-time borrowers, today announced a $10 million Series A funding round led by Kapor Capital and KB Investment Inc. (KBIC), a subsidiary of South Korea’s leading consumer bank. This comes on the heels of TomoCredit raising $7 million in seed funding, which brings the total funding to $17 million this year. The company also appointed Ash Gupta, former CRO at American Express, to the board.

Company Information

Company

Tomocredit

Location

San Francisco, California, United States

About

TomoCredit is a next-generation credit card, catering to students, working professionals, and immigrants looking to build a better financial future in the U.S. TomoCredit is backed by KB Investment, Kapor Capital, Barclays Ventures, Lewis & Clark Ventures, Ame Cloud, Knollwood Investment Advisory, Bronze, Bam Ventures, Strong Ventures and more. The founding team members are based in San Francisco.

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Funding Insights

Based on industry data
Typical timeline to Series B
Series A companies typically raise their next round in 10-18 months
Monthly burn rate benchmark
47% of Series A startups spend $400k or more per month on operations
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

Tomocredit raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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