Tomo Funding: How Much Did They Raise & Key Investors

How Much Did Tomo Raise?
Funding & Key Investors

Tomo, the San Francisco-based fintech innovator, has successfully secured a total capital infusion of $184M to accelerate its mission of democratizing credit access. This latest major strategic investment of $22M marks a pivotal milestone in the company's trajectory, signaling robust investor confidence in its unique credit-building platform. By focusing on underserved demographics, including international professionals and students, Tomo is effectively bridging the gap in traditional financial services.

The company's growth story is defined by a disciplined progression through multiple financing rounds. Starting with an initial seed injection in early 2021, Tomo has rapidly scaled its operations, culminating in a significant Series B and debt financing package. This capital structure underscores the firm's ability to leverage both equity and debt instruments to fuel its expansion in the competitive U.S. credit market.

What is Tomo?

Tomo

Finance

Credit Card Processing

Tomo operates as a next-generation credit card provider specifically engineered for individuals who face barriers to traditional credit. By catering to young adults, immigrants, and international working professionals, the company utilizes alternative data points to assess creditworthiness, thereby enabling users to build a robust financial future. Headquartered in San Francisco and established in 2018, Tomo occupies a critical niche in the fintech ecosystem, transforming how credit is accessed and managed by those historically excluded from the mainstream banking system.

How much funding has Tomo raised?

Tomo has raised a total of $184M across 4 funding rounds:

2021

Angel/Seed

$7M

Series A

$55M

2022

Series B

$22M

Debt

$100M

Angel/Seed (2021): $7M with participation from Kookmin Bank, Barclays PLC, KB Investment Co. , Ltd., BAM VENTURES LLC, and Knollwood Investment Advisory LLC

Series A (2021): $55M led by Kapor Capital, KB Investment, and Lewis & Clark Venture Capital

Series B (2022): $22M, investors not publicly disclosed

Debt (2022): $100M, investors not publicly disclosed

Key Investors in Tomo

KB Investment

KB Investment is a venture capital and private equity firm that provides investment in venture companies offering innovative technology, service, and entrepreneurship.

Lewis & Clark Venture Capital

An early-stage venture firm that partners with visionary founders to build iconic B2B software companies, focusing on strong founder teams and bold ideas.

Kapor Capital

A venture capital firm dedicated to investing in early-stage startups that close gaps of access, opportunity, or outcome for low-income communities and communities of color.

What's next for Tomo?

With the recent influx of $22M, Tomo is well-positioned to scale its product offerings and enhance its proprietary underwriting technology. The company's strategic roadmap likely involves deepening its market penetration among international cohorts and refining its credit-building algorithms to maintain a competitive edge. As Tomo transitions from a scaling startup to a more mature enterprise-level player, the focus will shift toward sustainable growth, customer acquisition efficiency, and potentially expanding its suite of financial tools to further support its user base in achieving long-term financial stability.

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