Welcome Tech, a Los Angeles, CA-based provider of a digital platform providing immigrant families with the tools and services required to live and work in the U.S., raised $30M in funding.
The round, which brings total funding to date to $70m, was led by TTV Capital, Owl Ventures, SoftBank Group Corp’s SB Opportunity Fund, Mubadala Capital, and Next Play Capital.
The company intends to use the funds to further expand its product offerings and diverse team, to support the growth of its digital wallet and subscription healthcare program, and to bolster the national launch of its credit card product in the second half of 2022.
Led by CEO Amir Hemmat, and CMO Brooke Norton Lais, Welcome Tech is a digital platform that provides multigenerational immigrant community with the linguistically and culturally relevant resources to thrive in a new country. Consumer insights, first-party data, and proprietary technology inform affordable, fair, and best-in-market custom solutions across key services including banking, rewards, credit, healthcare, education, and more.
Welcome Tech has also appointed two new board members: Mónica Gil and Michael Camuñez. Mónica Gil is the EVP, Chief Administrative & Marketing Officer at NBCUniversal Telemundo Enterprises, where she leads the company’s Operations, Marketing, Strategy and Insights, and Communications teams. Michael Camuñez is the current President, CEO, & Co-Founder at Monarch Global Strategies, where he advises U.S. companies in domestic and global markets. He is a former White House Special Counsel to President Obama and U.S. Assistant Secretary of Commerce.