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Kodo funding

kodo funding

Corporate card startup, Kodo announced that it has raised US$8.75 Mn in seed funding from a clutch of investors including Brex, Goat Capital, Pioneer Fund, among other Silicon Valley investors. 

The Y-Combinator winter 2021 batch startup was established in 2019 to put a Kodo corporate card in the hands of every entrepreneur in India. It will utilize the freshly raised funds to strengthen its team across engineering, product, sales, credit, and operations, to finance its accelerated growth plans.

Henrique Dubugras, Brex Co-CEO said, “Kodo has built an amazing foundation in India and we are looking forward to putting the full weight of our experience behind them. We were immediately impressed with Deepti and her team’s deep understanding of the future of finance and are incredibly excited about the next phase of their business.”

Commenting on the investment, Deepti Sanghi, Co-Founder & CEO, Kodo said, “We are obsessed about creating the most intuitive and seamless financial products for founders that enable them to free up their time and mind to pursue their own mission with confidence. We believe that founders should be free from the anxiety of where their money is, how much is being spent, and how to optimize their cash flows. Kodo cards with integrated spend management tools are our first step towards that goal. We are seeing accelerating adoption of Kodo cards from businesses ranging from VC-backed startups to SMBs, across sectors. With this capital raise, we are well-positioned to build on that momentum, strengthen our team and expand our customer base.”

Robin Chan, General Partner of Goat Capital said, “As early investors of the global fintech revolution, we were struck by the clarity of Kodo’s vision. We seek tenacious founders unlocking massive new markets. Deepti and Gaurav are exactly the type of founders we love backing.”

Brex is a stop finance solution for growing businesses. It helps businesses spend, save, and earn smarter by doing more than a bank, bookkeeper, credit card or expense software could ever do alone. 

Goat Capital was established in 2020 by Justin Kan and Robin Chan with more than $100M under management. Justin and Robin have invested at the earliest stages in companies such as Gingko Bioworks, Ramp Financial, Razorpay, Scale.ai, Square, Twitter, Uber, Xendit, and Xiaomi.

Deepti Sanghi, co-founder and CEO of Kodo, recognized the necessity to create a credit card for start-ups when she struggled to get a business credit card for the earlier version of this start-up. She partnered with Gaurav Thapa who had faced the same challenge at his previous start-ups. 

Before Kodo, Deepti was heading bank partnerships for MoneyTap where she helped launch and expand the company’s credit card and credit line products.

Kodo is a fintech startup focused on aiding the corporate card and B2B payments needs of Startups and SMBs. Kodo was part of the winter 2021 batch of Y-Combinator and now has raised seed capital from a clutch of renowned investors including Brex, Goat Capital, Pioneer Fund, and other silicon valley investors.

The founders of Kodo have identified a major gap in the market and are helping several founders who are just beginning their entrepreneurial journey. I strongly believe the company has great prospects in the coming time with the emergence of more and more startups in the country. My best wishes to the team of Kodo.

Shishir Gupta, Founder and CEO, StartupLanes

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