Tomo Funding: How Much Did They Raise & Key Investors

How Much Did Tomo Raise?
Funding & Key Investors

Tomo, a fintech company focused on next-generation credit cards for young adults, international professionals, students, and immigrants, has secured significant enterprise-level funding. The company's total funding to date stands at $184M, with its most recent financing round bringing in $22M in a major strategic investment. This latest capital infusion underscores the growing confidence in Tomo's mission to enhance financial accessibility and build credit for underserved demographics in the U.S. market.

What is Tomo?

Tomo

Finance

Credit Card Processing

Headquartered in San Francisco and established in 2018, Tomo offers a modern credit card solution designed to empower individuals seeking to build a stronger financial future. The company targets a diverse user base, including young adults, international working professionals, students, and immigrants, providing them with tools to establish and improve their creditworthiness in the United States. Tomo's approach aims to democratize access to financial services, addressing a critical need in the market.

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, KB Investment Co. , Ltd., Knollwood Investment Advisory LLC, Barclays PLC, and BAM VENTURES LLC

Series A (2021): $55M led by KB Investment, Lewis & Clark Venture Capital, and Kapor 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 established in 1990, specializing in investments in companies with innovative technology and entrepreneurship. It is headquartered in Seoul, South Korea.

Lewis & Clark Venture Capital

Lewis & Clark Ventures is an early-stage venture firm that partners with founders to build B2B software companies, typically investing between $2M and $3M in late seed through Series A rounds.

Kapor Capital

Kapor Capital is a venture capital firm focused on investing in companies that are building technology to address social and economic inequities.

What's next for Tomo?

With the recent major strategic investment, Tomo is poised for accelerated growth and expansion. The substantial capital injection, part of its $184M in total financing, will likely be directed towards enhancing its product offerings, scaling its operations, and broadening its market reach. This funding round signals a pivotal moment for Tomo as it solidifies its position in the competitive fintech landscape and continues its pursuit of financial inclusion.

See full Tomo company page

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