Stilt secures $114m in debt and equity funding

Stilt, a credit and financial services provider for immigrants in the United States, has raised $14 million in a Series A fundraising round.

Link Ventures led the round, which included Petrushka Investments, Hillsven Capital, and Gokul Rajaram, among others. Claire Hughes Johnson (COO, Stripe), Ott Kaukver (CTO, Checkout.com), and Rahul Vohra (CEO, Superhuman) were among the individual investors.

Stilt also closed on a new $100 million lending arrangement, increasing its total equity and debt financing raised to $375 million. The company claims that its yearly sales increased by 4x in 2021, while its headcount increased by 3x.

Onbo is a credit-as-a-service offering that allows any business to create and market a credit product without the requirement for a bank sponsor.

Onbo uses Stilt’s state lending licenses and compliance framework to manage all aspects of customer origination, payments, and credit reporting, as well as providing up to $1 million in debt capital.