What is Tomo?
Tomo operates as a next-generation credit card provider specifically engineered to address the financial needs of young adults, international working professionals, students, and immigrants. By prioritizing accessibility and credit-building capabilities, the firm bridges a significant gap in the traditional banking sector, which often overlooks individuals lacking extensive U.S. credit histories. Headquartered in San Francisco, the company utilizes proprietary technology to assess creditworthiness beyond conventional metrics, thereby empowering a broader segment of the population to establish a stable financial future. Its market position is defined by its commitment to financial inclusion and its ability to provide a seamless, digital-first user experience that resonates with modern, mobile-centric consumers.
How much funding has Tomo raised?
Tomo has raised a total of $184M across 4 funding rounds:
Angel/Seed
$7M
Series A
$55M
Series B
$22M
Debt
$100M
Angel/Seed (2021): $7M with participation from BAM VENTURES LLC, Kookmin Bank, Barclays PLC, Knollwood Investment Advisory LLC, and KB Investment Co. , Ltd.
Series A (2021): $55M led by Lewis & Clark Venture Capital, Kapor Capital, and KB Investment
Series B (2022): $22M, investors not publicly disclosed
Debt (2022): $100M, investors not publicly disclosed
Key Investors in Tomo
Lewis & Clark Venture Capital
An early-stage venture firm that partners with visionary founders to build iconic B2B software companies, typically investing in late seed through Series A rounds.
Kapor Capital
A venture capital firm focused on investing in tech-driven startups that close gaps of access, opportunity, or outcome for low-income communities and communities of color.
KB Investment
A prominent venture capital and private equity firm based in Seoul, South Korea, specializing in innovative technology, service-oriented startups, and entrepreneurship.
What's next for Tomo?
With the infusion of $22M, Tomo is poised to enter a new phase of market expansion and product refinement. The strategic allocation of this capital will likely focus on enhancing its credit-scoring algorithms and expanding its customer acquisition channels to reach a wider demographic of international professionals and students. As the company matures, the focus will shift toward long-term sustainability and the potential for further product diversification within the personal finance ecosystem. By maintaining its focus on high-growth segments and leveraging its established investor relationships, Tomo is well-positioned to challenge legacy financial institutions and redefine the standards for credit accessibility in the United States.
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