We got an exclusive look at the pitch deck fintech startup TomoCredit used to raise $122 million from investors like Morgan Stanley and MasterCard

Kristy Kim TomoCredit
  • TomoCredit gives young people with no credit history the chance to build their credit.
  • The company uses an underwriting algorithm to determine high potential borrowers. 
  • The fundraising, announced in July, includes $100 million in debt from Silicon Valley Bank.

When TomoCredit, a company that offers credit cards to those with little or no credit history, raised $122 million from investors like Morgan Stanley’s Next Level Fund, which backs underrepresented founders. and MasterCard. 

TomoCredit bills itself as a credit card for people to start building their credit. It considers individual economic  circumstances using a proprietary underwriting algorithim to determine whether someone qualifies to get a credit card. 

The fundraising, which includes a $100 million in debt from Silicon Valley Bank, will help the company launch new products, said cofounder and chief executive officer Kristy Kim. 

“I started talking to investors casually at the beginning of the year, and we closed sometime in [the second quarter],” Kim said. “We were really lucky on the timing that we got the valuation before the market crashed.”

Kim said TomoCredit’s revenue grew 1,000% in the last year. Eventually, the company plans to offer other credit products like auto loans and mortgages. 

TomoCredit started in 2018 after Kim, who immigrated from South Korea to the US to study at the University of California, Berkeley, found it hard to buy a car without a credit history in the US. 

GoldHouse Ventures, Asian Hustle network and Hyphen Capital also participated in the company’s fundraising round. The Series B raise comes a year after the company raised its Series A led by Kapor Capital and KB Investment. 

Here is an exclusive look at the pitch deck TomoCredit used to raise its Series B financing: 

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