welcome tech

welcome tech

Courtesy of Welcome Tech

Welcome Tech, a Los Angeles-based startup building financial tools and services for immigrants in the U.S., has raised $30 million in new funding to bridge the gap between the $35 million Series B round it raised last year and a future Series C round.

Atlanta-based venture capital firm TTV Capital led the round. SoftBank’s Opportunity Fund also chipped in, as did San Francisco-based VCs Owl Ventures and Next Play Capital and Abu Dhabi-owned Mubadala Capital. The new funding takes Welcome Tech’s total capital raised to $70 million.

Read moreShow less

As Americans are struck by the flurry of images of men, women and children fleeing the Taliban's takeover of Afghanistan, the dire needs of refugees are never far from Christopher Mikkelsen's mind.

When the Hancock Park techie and his then-filmmaker brother David met a young Afghan refugee named Mansour in Denmark in 2005, it altered the course of their lives -- and that of tens of thousands of refugee families whom they've helped reconnect since.

Read moreShow less

The United States is a nation of immigrants, but traditional banks – along with the rest of corporate America – are doing a lousy job of catering to this rapidly growing demographic. They are leaving a lot of money on the table, according to Amir Hemmat, co-founder and CEO of Welcome Tech.

"If you have an honest conversation with any banking executive they will share that this is not a customer segment they prioritize," Hemmat said.

Read moreShow less
Trending