Kodo raises $8.75 million in seed funding

BENGALURU: Corporate card startup, Kodo, on Thursday said it has raised $8.75 million as a part of its seed round of funding from Brex, Goat Capital, Pioneer Fund and other Silicon Valley investors.

It will use the funds to strengthen and expand its team across engineering, product, sales, credit and operation functions, while looking to accelerate its growth plans.

Kodo was also a part of the winter 2021 batch of US-based seed accelerator Y-Combinator.

The two-year-old fintech startup provides corporate cards to startups as well as small and medium businesses (SMBs), as it looks to digitise business-to-business payments, while equipping them with spend management tools.