Alternative Finances

Credit Karma Raises New Round, And Valuation

Whoever said that no one ever got rich giving something away for nothing had clearly never met the good people at Credit Karma.  The San Francisco start-up that made its name by offering consumers a truly free glance at their credit reports has just finished off a $75 million funding round. The latest round Growth Equity dollars raised off of Google Capital, Tiger Global Management, and Susquehanna Growth Equity is the company’s second in 8 months and leaves company with a valuation over $1 billion.

During the 8 months since its last funding round, Credit Karma’s user based has growth 50 percent, reports Tech Crunch.  

Credit Karma  has 32 million users and has raised around $194 million in outside funding to date.  It’s goal is simple, to let consumers now what their credit score is, and to warn them when they are engaging in behavior that is taking a golf-club to the windshield of their credit profile.  And the service is free actually free, not a covert subscription service that offer a view into one report before charging consumer monthly.  Credit Karma’s income stream comes from selling users credit products matched to them because of their credit history.

The company says the new funding is being used to “further advance its growth initiatives and ongoing product innovation.”

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PYMNTS STUDY: THE CROSS-BORDER MERCHANT FRICTION INDEX – JUNE 2020

The PYMNTS Cross-Border Merchant Friction Index analyzes the key friction points experienced by consumers browsing, shopping and paying for purchases on international eCommerce sites. PYMNTS examined the checkout processes of 266 B2B and B2C eCommerce sites across 12 industries and operating from locations across Europe and the United States to provide a comprehensive overview of their checkout offerings.

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