Google Capital leads $85m financing for credit score business Credit Karma


money dollar lend borrowGoogle’s new growth capital arm Google Capital has led an $85m financing round for consumer finance information business Credit Karma.

Tiger Global and existing backers Ribbit Capital and Susquehanna Growth Equity also committed to the financing round, bringing the total raised by the company to $118.5m.

Credit Karma said the investment followed a year of growth including triple-digit percentage growth in site membership, revenue and headcount.

Google Capital partner David Lawee said, “Consumers want a trusted, secure service to provide personalized financial information that is easy to understand.

“Credit Karma delivers on these extremely high expectations at no cost to consumers.

“They have established a trusted brand that brings an unprecedented level of transparency to the market.

“We’re excited to see what’s ahead for the company and to become partners in that vision.”

Credit Karma said it intended to use the new capital to invest heavily in new, free services to help consumers better understand and manage their finances and to make finding and applying for new financial services products intelligent and seamless.

Copyright © 2014 AltAssets