202008 Oct
Bloom Credit Raises $13M To Connect Businesses With Credit Bureaus
Funding Rounds
202008 Oct
$10MSeries A

The other $3 million was a previously unannounced round from a group of angel investors including Sheel Mohnot and Jake Gibson, Jeff Cruttenden, Jason Gardner, Mark Goines and Ron Suber. Over the course of the last few decades, bureaus evolved from lots of distributors to consolidated data sets, but their technology has not caught up, Goines, a Bloom Credit investor and vice chair of Personal Capital, said in an interview. “Bloom is in front of offering this API for bureaus, providing access for companies like Marqeta did for payments.” The new funding will support the company’s plans to round out its leadership team and fill out teams in engineering, product and sales, as well as its growth team, which acts as customer support for companies offering credit products for the first time. It will also use the funding to launch new products, especially in furnishment, which is the way companies send information back to the credit bureaus. Creating in-house credit products for startups, and even large companies, is often costly and takes time, Harris said.