Kikoff, a personal finance platform aimed at helping consumers build credit, announced today that it has raised $30 million in a Series B round.
The capital is in addition to the $12.5 million the startup raised across previously unannounced seed and Series A rounds, which were both led by Lightspeed Venture partners.
Portage Ventures led Kickoff’s Series B, which included participation from Lightspeed, GGV, Coatue and Core Innovation Capital. Previous backers of the company include NBA star Steph Curry, Wex CEO Melissa Smith and Teresa Ressel, former CFO of the U.S. Department of the Treasury.
CEO Cynthia Chen and CTO Christophe Chong co-founded the San Francisco-based company in late 2019 with the goal of helping consumers without a credit history establish one, and helping those with credit histories to continue building credit. The pair came from “low to moderate income” families, Chen said, and say they want to help others who also come from similar economic backgrounds. Chen grew up in Beijing before coming to the U.S. for college on a scholarship and says she was struck by the experience of her parents having to borrow money from family and friends in order to purchase a TV.
While the company declined to reveal hard revenue figures, Chen did say that Kikoff has “hundreds of thousands” of customers after being out of beta for half a year.
Kikoff’s product, the “Kikoff Credit Account,” is the first of a planned suite of offerings all aimed at improving consumers’ financial health.
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