Tribal Credit, which provides credit cards to startups in emerging markets, raises $34.3M
The B2B payments space has seen an explosion in demand, and investor interest, in the wake of the COVID-19 pandemic as businesses try to figure out how to pay each other digitally. The challenges become even more complex when dealing with cross-border payments.
Startups that were formed before the pandemic stand to benefit from the shift. One such startup, Tribal Credit, launched its beta in late 2019 to provide payment products for startups and small to medium-sized businesses (SMBs) in emerging markets.
Today, Tribal Credit announced it has raised $34.3 million in a combined Series A and debt round led by QED Investors and Partners for Growth (PFG). Existing backers BECO Capital, Global Ventures, OTG Ventures and Endure Capital also participated in the round, along with new investor Endeavor Catalyst. The raise follows “10x” year-over-year growth, according to CEO and co-founder Amr Sha
Share this article
Share this article
SAN FRANCISCO, April 21, 2021 /PRNewswire/ Tribal Credit, a payment fintech specially designed for small and medium-sized businesses in emerging markets, announced today closing a combined Series A and debt round of $34.3 million.
The investment was led by QED Investors and Partners for Growth (PFG). Existing investors BECO Capital, Global Ventures, OTG Ventures and Endure Capital also took part in the round, joined by new investors Endeavor Catalyst.
As part of the investment, Tribal received $3 million from the Stellar Development Foundation, a nonprofit organization that supports the development and growth of the open-source Stellar blockchain network. Their investment will facilitate the development of Tribal s blockchain products and integration onto the Stellar network.
Tribal Credit Raises $34 3 Million to Fuel Mexican Growth and Support SMEs in Emerging Markets streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.