Venture-funded Credilio intent on securing additional investments, with a focus on offering secured credit card solutions
In a significant move, Cornerstone Ventures has recently marked the first close of a new $200 million fund. This fund will primarily focus on investing in SaaS companies.
One of the first investments from this fund is in the fintech platform, Credilio. However, the specific names of the new investors that Credilio plans to bring in for its upcoming funding round backed by Cornerstone Ventures remain undisclosed.
Credilio, which is already backed by Cornerstone Ventures, is planning to raise fresh capital for growth. The company may appoint a lead banker in the near future, but the sources consulted do not provide any further details about this appointment.
In another development, Cornerstone Ventures has invested in OfBusiness for the first time from its new fund. This marks the first investment from Cornerstone Ventures' new fund. The exact nature of this investment and the terms of the deal have not been disclosed.
To strengthen its US and cross-border strategy, Cornerstone Ventures has recently hired a former JP Morgan executive. This move is not directly related to the investments mentioned above but is an indication of Cornerstone Ventures' growth plans.
It is also worth noting that Cornerstone Ventures has made a third exit from its first fund, but the specifics of this exit are not available at this time.
[1] It is important to note that the specific names or identities of the new investors that Credilio plans to bring in for its upcoming funding round backed by Cornerstone Ventures are not publicly available. The available information states that Credilio, backed by Cornerstone Ventures, intends to add up to two new investors in its upcoming capital raise but does not disclose who these investors are.
[1] This upcoming funding round for Credilio, backed by Cornerstone Ventures, will involve the addition of up to two new investors from the finance and/or fintech industry, although their identities remain undisclosed at this time.
[2] Cornerstone Ventures' recent investment in fintech platform Credilio is part of their strategy to expand their portfolio, highlighting their focus on investing in innovative companies across various sectors, including finance.
