Few things say “growth round” like a capital infusion of $75 million.
The latest investment in Credit Karma (FinovateStartup 2009) comes courtesy of a trio of current investors: Google Capital, Susquehanna Growth Equity, and Tiger Global Management. 2014 has been a good year for raising capital for Credit Karma, having raised $85 million in the spring.
The company’s total capital raised now stands at more than $193 million.
Founder and CEO Ken Linn pointed two two factors that investors continue to find appealing about the company. One is the conviction that Credit Karma is category leader in consumer credit and finance. Two is continued strong demand for Credit Karma’s solutions.
To this last point, Credit Karma says it has experienced a 50% increase in users since February, with more than 30 million consumers now taking advantage of the technology.
“Today’s complex marketplace requires a pro-consumer resource that makes financial comprehension easy, transparent, and empowering,” Lin said. “Credit Karma delivers that.”
The company plans to use the new capital to fuel growth initiatives and continue product innovation.
In other good news for Credit Karma, the Wall Street Journal reported that the company is now worth more than $1 billion. The Journal quoted Lin referring to Credit Karma as the “Expedia for financial services products.”
Credit Karma was founded in 2008, and is based in San Francisco. The company made headlines this summer when it announced that it would provide free, weekly credit reports.