Credit Karma

lendingcredit scoring

STATUS: Acquired/Merged
FOUNDING YEAR: 2007
LOCATION: United States
Last Update: 19/01/2021

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About

Credit Karma is focused on championing financial progress for over 100 million members in the U.S., Canada and U.K. While we're best known for pioneering free credit scores, our members turn to us for resources as they work toward their financial goals. This includes tools for credit and identity monitoring, credit card recommendations, shopping for loans (car, home and personal), growing their savings* and filing their taxes with Credit Karma Tax -- all for free. Weve grown significantly through the years, adding more than 70 million members in the last five alone. We currently have more than 1,300 employees spread across offices in San Francisco, Charlotte, Los Angeles, Leeds, London and one coming soon to Oakland. Disrupting the financial industry is not an easy task. Thats why we know its one worth doing. Our core values of helpfulness, ownership, progress and empathy guide our work and our relationships.Championing financial progress for everyone is a big mission that requires passionate people working together to make a difference in the world. If youre up for the task, wed love to have you on our team. Check out our open positions: https://www.creditkarma.com/careers.*Banking services provided by MVB Bank, Inc., Member FDIC

MEDICI Analysis

Credit Karma develops tools and maintains information resources that help users to manage the credit aspect of their financial health. The company uses advanced data modeling to analyze and identify the most-suited financial products available to its members. It has originated more than $40 billion in credit products including credit cards, personal loans, mortgages, automotive financing, and student loan refinancing. It helps more than 75+ million consumers track, maintain & improve credit health conveniently and securely. Recently, Credit Karma was selected for the 2019 Forbes Fintech 50 startups list.

Focus

PRODUCTS & SERVICES

The company offers various tools for users like credit score rating, credit scores, credit reports, credit monitoring, and tax prep software & filing. Credit offers a range of loan products like personal loans, home loans, auto loans, student loans, business loans, refinance, etc. In addition to credit score, the platform also enables members to view their accounts, their last reported balances, and the factors affecting their credit scores. It also provides personalized recommendations & insights that enable users to use their credit in a better manner.

REVENUE MODEL

Kabbage charges a fee (1.5-12%/month) on loans issued as well as additional monthly fees. Every month, the borrwer pays back 1/6 of the total loan (for six-month loans) or 1/12 of the total loan (for 12-month loans) plus a monthly fee. They do not charge any early payment fees.

MAIN CLIENTS

Small businesses

EXISTING PARTNERSHIPS

ING Vysya

Experian

Scotiabank

Mastercard

Sage

FleetCardsUSA

COMMENT

Customers can access scores and reports anytime. It also provides offers tailored to a user's credit profile.

Traction

VALUATION / MARKET CAP:

$4 B in 2019

VALUATION COMMENT:

Third-party news sources reported that the company's valuation is around $4 billion after the latest funding round on March 2019.

COMPANY TYPE:

For Profit

REVENUE

$10M+ in 2018

REVENUE COMMENT:

The company's annual revenue was $500 million+ in 2018.

TRANSACTIONS COMMENT:

The company has facilitated more than $40 billion in credit lines across financial products like credit cards, personal loans, mortgage refinancing, automotive financing, and student loan refinancing. (Jan. 2019)

ACTIVE USERS COMMENT:

The company has 85 million customers from across North America and 50% of them are US millennials. (Jan. 2019)

TRACTION COMMENT:

To date, the company has provided more than 4 billion free credit scores to consumers. (Mar. 2019)

People

FOUNDERS

Kenneth Lin

Ryan Graciano

Nichole Mustard

BOARD MEMBERS AND ADVISORS

Meyer Malka

David Lawee

Frank Rotman

Scott Feldman

Aydin Senkut

Mike Bingle

Mark Lefanowicz

Josh Elser

NUMBER OF EMPLOYEES

501-1000

INVESTORS:

500 Startups

and Founders Fund.

Felicis Ventures

FF Angel LLC

Founders Fund

Google Capital

QED Investors

Ribbit Capital

Silver Lake

Susquehanna Growth Equity

SV Angel

Tiger Global Management

Valinor Management

Viking Global Investors

Pathfinder

CapitalG

Silver Lake Partners

KEY EMPLOYEES:

Ken Lin (CEO)

Ken Lin (CTO)

Nichole Mustard (CRO)

Nikhyl Singhal (CPO)

Greg Lull (CMO)

Susannah Wright (CLO)

Momentum

FUNDED

YES

NUMBER OF FUNDING ROUNDS

7

TOTAL FUNDING

$283 M

DATE OF LAST FUNDING

Mar 2018

IPO STATUS

Private

TOTAL FUNDING COMMENT

The company will use the fund to expand into other financial services such as lending and credit. (Mar. 2019)

ESTIMETED REVENUE RANGE

$100M to $500M

SEED & PRIOR FUNDING

$500 K

SEED CLOSED ON

Jan 2007

FUNDING SERIES

SERIES A  · $2.5 M  · Nov 2009

SERIES B  · $30 M  · Apr 2013

SERIES C  · $75 M  · Sep 2014

SERIES D  · $175 M  · Jun 2015

SECONDARY MARKET  · $500 M · ---

LISTED

NO

COMMENT

The company has raised $500 million in investments from the secondary market. (Mar. 2019)

company provided insights
Acquisitions

M&A

ACQUIRED BY

coinpay

ANNOUNCED DATE

Feb 2020

PRICE

$7.1 B

company provided insights

Acquisitions

ACQUIREE NAME

Penny

ANNOUNCED DATE

Mar 2018

PRICE

---

ACQUIREE NAME

Approved

ANNOUNCED DATE

Aug 2018

PRICE

---

ACQUIREE NAME

Haven Money

ANNOUNCED DATE

Dec 2019

PRICE

---

ACQUIREE NAME

Claimdog

ANNOUNCED DATE

May 2017

PRICE

---

ACQUIREE NAME

OnePriceTaxes

ANNOUNCED DATE

Dec 2016

PRICE

---

company provided insights
Web Traffic

Web Traffic

MONTHLY VISITS

63,793,909

AVERAGE VISITS (6 MONTHS)

69,432,205.71

MONTHLY VISITS GROWTH

1.54%

VISIT DURATION

177

VISIT DURATION GROWTH

-11.78%

PAGE VIEWS VISIT

5.01

PAGE VIEWS VISIT GROWTH

-11.92%

BOUNCE RATE

34.81%

BOUNCE RATE GROWTH

-3.06%

GLOBAL TRAFFIC RANK

506

MONTHLY RANK CHANGE

9

MONTHLY RANK GROWTH

1.81%

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