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FT Partners Advises Google Capital on its Lead Role in Credit Karma's $85 mm Capital Raise

Overview of Transaction

  • On March 12, 2014, Credit Karma announced it closed an $85 mm equity round led by new investor Google Capital
  • David Lawee, Partner at Google Capital, will join Credit Karma's Board
  • Credit Karma's existing investors, Ribbit Capital and Susquehanna Growth Equity, also participated in the round, as well as new investor, Tiger Global Management
  • The investment follows a year of exponential growth for Credit Karma, including triple-digit percentage growth in site membership, revenue and headcount
  • Credit Karma is a consumer finance and technology company that provides more than 20 million consumers with free access to their credit scores and free monitoring of their credit and financial accounts
  • Google Capital is a growth equity fund backed by Google that invests in companies that use technology to change the way people experience the world

Significance of Transaction

  • Credit Karma will use the new capital to invest heavily in new, free services to help consumers understand and manage their finances
  • Additional capital also supports continued efforts to make finding and applying for new financial services products intelligent and seamless
  • Credit Karma also plans on accelerating employee hiring in order to meet these goals

FT Partners' Role

  • FT Partners served as the advisor to Google Capital on its lead role in the investment
  • Highlights FT Partners' continued success in advising a broad range of top-tier financial investors