Fintech'S Newest Player Torpago Raises $77 Million Debt And Equity Round
PRIVATEOct 28, 2021
Amount Raised
$77 Million
Round Type
Venture
BurlingameInformation TechnologyFinancial ServicesSoftwareLending And InvestmentsFinanceFintech
Description
FinTech spend management platform Torpago announces today the closing of their oversubscribed $2M seed round. The round was led by Operate with participation from Clear Haven Capital Management, former Summit Partners Managing Partner Walter Kortschak, and other strategic angel investors. This investment comes in the wake of rapid growth for the company: 100% MOM throughout 2021 and into 2022. In addition to the equity round, Torpago secured a $75M warehouse financing round to support its rapid expansion and launch of its spend management platform.
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Company Information
Company
Torpago
Location
228 Lorton Ave
Burlingame, California, United States
About
Torpago is a FinTech spend management platform on a mission to disrupt traditional corporate credit cards and modernize spend management for businesses of all sizes. Torpago empowers companies with simple and easy solutions that grant more extensive control and transparency of company spend. Launched in 2020, the Torpago cards and software enable hundreds of businesses to better manage spend.
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BurlingameInformation TechnologyFinancial ServicesSoftwareLending And InvestmentsFinanceFintech