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lewisandclarkventures.com

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Investments

34

Portfolio Exits

7

Funds

7

About Lewis & Clark Ventures

Lewis & Clark Ventures is an exciting new early-stage high-growth venture capital firm based in St. Louis, MO. The firm plans to invest in high-growth companies for between $3 million and $7 million.

Lewis & Clark Ventures Headquarter Location

120 S. Central Avenue Suite 1000

St. Louis, Missouri, 63105,

United States

314-392-5264

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Latest Lewis & Clark Ventures News

TomoCredit Raises $10 Million in Series A Funding to Help Build Credit for First Time Borrowers

Sep 16, 2021

TomoCredit Raises $10 Million in Series A Funding to Help Build Credit for First Time Borrowers The FICO-free credit card brings increased diversity to the consumer credit industry with a focus on cash flow, not on credit scores for customers SAN FRANCISCO, September 15, 2021-- TomoCredit, a fintech company offering a credit card focused on building a credit history for first-time borrowers, today announced a $10 million Series A funding round led by Kapor Capital and KB Investment Inc. (KBIC), a subsidiary of South Korea’s leading consumer bank. This comes on the heels of TomoCredit raising $7 million in seed funding, which brings the total funding to $17 million this year. The company also appointed Ash Gupta, former CRO at American Express, to the board. According to the company’s analysis of Consumer Financial Protection Bureau statistics, 76% of GenZ and Millennials have not previously built up a credit history. Ultimately this means they cannot obtain loans from traditional financial institutions, which require at least a credit score with some history to get started. Such lending policies prevent 40 million people from accessing credit, including cars and homes. TomoCredit aims to bring millions of individuals that lack a credit score into the financial system, allowing a diverse group of consumers the opportunity to better position themselves as qualified candidates for mortgages, auto loans, or other major life purchases. Powered by Finicity – a Mastercard company –and leveraging their secure data network and open banking technology, applicants permit TomoCredit to securely access their bank accounts to access financial data for underwriting purposes. Once approved, applicants receive the TomoCredit Mastercard, a no-fee credit card with 0% APR. The company has already pre-approved more than 300,000 customers and expects to issue a total of 500,000 cards by year’s end. "TomoCredit is a glowing example of financial services innovation that meaningfully benefits individuals and families," said Steve Smith, chairman, CEO and co-founder of Finicity. "The team at TomoCredit understands the value of open banking, the wide range of data and how it can deliver richer insights and better decisioning to drive inclusion for those who are underserved by traditional borrowing processes. We expect big things from the team.” “As a South Korean immigrant, I understood the true pain point when I came to the US and couldn’t get qualified for an auto loan. I knew there must be a solution so with my co-founder Dmitry, we built TomoCredit centered around helping consumers build credit faster,” said Kristy Kim, co-founder of TomoCredit. "We believe we have the opportunity to not only foster a diverse and inclusive team but to break socioeconomic barriers and provide credit solutions to a much wider audience impacted by this issue. Currently we have a 50% female representation in our executive leadership team and we are proud of our inclusive culture here at Tomo,” said Kristy. With this latest funding round, TomoCredit will hire additional staff and enhance key features like weekly AutoPay and High Credit Limits to boost credit scores faster. Through a no credit-pull method with no fees, the company can provide credit to everyone, especially to the ones neglected by major lenders due to their lack of FICO scores. TomoCredit’s Advisory Board includes current and past executives from LendingClub, Mastercard, Chime, SoFi and Venmo. “At Kapor Capital, we believe in the power of transformative ideas and diverse teams. TomoCredit is just that,” said Brian Dixon, Partner at Kapor Capital, ''TomoCredit gives fair opportunity to everyone that is looking to start building credit and it is much needed for underrepresented communities. TomoCredit founders understand the pain points in the credit system from their own struggles as immigrants.” Also joining this round is Lewis & Clark Ventures. “We are enthusiastic about the potential for TomoCredit to make a real impact in our nation by offering opportunities for inclusion for immigrants, foreign students, and those just beginning their careers with something as basic as their access to credit,” said Tom Hillman, Founding General Partner, Lewis & Clark Ventures. ABOUT TOMOCREDIT TomoCredit is a next-generation credit card, catering to students, working professionals, and immigrants looking to build a better financial future in the U.S. TomoCredit is backed by KB Investment, Kapor Capital, Barclays Ventures, Lewis & Clark Ventures, Ame Cloud, Knollwood Investment Advisory, Bronze, Bam Ventures, Strong Ventures and more. The founding team members are based in San Francisco. More information is available at: www.tomocredit.com. Contact:

Lewis & Clark Ventures Investments

34 Investments

Lewis & Clark Ventures has made 34 investments. Their latest investment was in TomoCredit as part of their Series A on September 9, 2021.

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Lewis & Clark Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/15/2021

Series A

TomoCredit

$10M

Yes

1

4/13/2021

Series B - II

Territory

$22M

No

9

12/1/2020

Series A

Rantizo

$7.5M

Yes

3

11/19/2020

PIPE

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$99M

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10

11/12/2020

Series B

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$99M

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10

Date

9/15/2021

4/13/2021

12/1/2020

11/19/2020

11/12/2020

Round

Series A

Series B - II

Series A

PIPE

Series B

Company

TomoCredit

Territory

Rantizo

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Amount

$10M

$22M

$7.5M

$99M

$99M

New?

Yes

No

Yes

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Co-Investors

Sources

1

9

3

10

10

Lewis & Clark Ventures Portfolio Exits

7 Portfolio Exits

Lewis & Clark Ventures has 7 portfolio exits. Their latest portfolio exit was Big Squid on September 30, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

9/30/2021

Acquired

2

00/00/0000

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10

00/00/0000

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$991

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10

00/00/0000

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$991

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10

00/00/0000

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10

Date

9/30/2021

00/00/0000

00/00/0000

00/00/0000

00/00/0000

Exit

Acquired

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Companies

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Valuation

$991

$991

Acquirer

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Sources

2

10

10

10

10

Lewis & Clark Ventures Fund History

7 Fund Histories

Lewis & Clark Ventures has 7 funds, including Lewis & Clark AgriFood Fund II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

1/6/2020

Lewis & Clark AgriFood Fund II

$109.65M

2

12/18/2019

Lewis & Clark RBIC Fund II

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$99M

10

9/7/2016

Lewis & Clark Plant Sciences Fund I

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$99M

10

2/2/2016

Lewis & Clark Ventures Early Stage Venture Fund

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$99M

10

11/24/2015

Lewis & Clark Ventures II

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$99M

10

Closing Date

1/6/2020

12/18/2019

9/7/2016

2/2/2016

11/24/2015

Fund

Lewis & Clark AgriFood Fund II

Lewis & Clark RBIC Fund II

Lewis & Clark Plant Sciences Fund I

Lewis & Clark Ventures Early Stage Venture Fund

Lewis & Clark Ventures II

Fund Type

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Status

Amount

$109.65M

$99M

$99M

$99M

$99M

Sources

2

10

10

10

10

Lewis & Clark Ventures Team

4 Team Members

Lewis & Clark Ventures has 4 team members, including current Controller, Meg Lane.

Name

Work History

Title

Status

Meg Lane

Controller

Current

Brian Hopcraft

Managing Director

Current

Tom Hillman

General Partner

Current

Chad Denen

Managing Director

Former

Name

Meg Lane

Brian Hopcraft

Tom Hillman

Chad Denen

Work History

Title

Controller

Managing Director

General Partner

Managing Director

Status

Current

Current

Current

Former

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