Azibo raises $19M Series A Funding

Azibo is a Reno, Nev.-based financial services platform that provides one-stop shopping for all your financial needs. It raised $19M Series A funding.

azibo 768x325 1

SVB Capital led the round, with participation by new investors RET Ventures and Liberty Mutual Strategic Ventures and Victory Park Capital. Gaingels was also present, as were existing investors Canaan and Khosla Ventures and QED Investors.

The company plans to use the funds for new talent to be hired by its Tahoe-Reno Bay Area and San Francisco Bay Area teams, to accelerate product innovation and to scale up go-to-market efforts.

Chris Hsu, Co-Founder and CEO, joined by Wontaek Shin as Chief Technology Officer. Azibo provides a single-stop financial platform for the rental market. It offers solutions for rent collection and banking, lending, insurance, among other things. Its services include bill collection, expense management, rent collection, and bill payment. Azibo also offers full-service commercial banking, nationally licensed insurance, and lending solutions for short-term loans and mortgages. Azibo Marketplace is a network that offers services to landlords and renters.

The team will focus their efforts on 2022 to build out the platform that allows landlords to interact directly with tenants, property managers, vendors, and other stakeholders. They also plan to develop new features to empower renters to improve financial health.

Azibo acquired more than 10,000 customers since its platform launch. It has exceeded $130 million in annual platform transaction volume and achieved double-digit monthly growth by 2021.

Get latest news from African Startup ecosystem

Latest stories

You might also like...