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While personal finance startups have mainly focused on helping people manage their money and investments, Credit Sesame has instead targeted consumer debt management and credit monitoring - tackling a $14t market. Credit Sesame offers consumers a way to track their debt, and then recommends savings by analyzing each consumer’s debt situation. Traction looks solid as the company now boasts $50b in loans under management and recently reached over $2b in consumer loan originations.
Personal finance company Credit Sesame is announcing today that it has raised an additional $16 million in an oversubscribed Series D round of funding, with plans to raise more – as much as $20 million – in the near future. The company, a prior TechCrunch Disrupt Battlefield participant, was one of the first to market with solutions that allow consumers to monitor their credit and score, protect themselves against identity theft, and reduce their debt through credit and loan management services. The new round was led by Syncora Alternative Investments, with IA Capital Partners as its advisor, and also included participation from investors Menlo Ventures, IA Capital, Globespan Capital, Inventus Capital, and other high-profile angels. This brings Credit Sesame’s total raise to date to over $35 million.
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