Total amount raised
$27 Millions
Latest funding date
7/1/2022
Location
Meow has successfully raised $22 million in a Series A funding round, with notable contributions from QED Investors and Tiger Global Management. The platform offers a suite of business banking services, including high-yield checking accounts, cashback cards, and global treasury management.
Keep reading to explore the intricacies of Meow's fundraising journey and the investors backing this innovative platform.
What Is Meow?
Founded in 2021, Meow Technologies is a financial technology company based in New York, New York. The company was established by Brandon Arvanaghi and focuses on providing innovative business banking solutions.
Meow offers a range of services, including high-yield business checking accounts, cashback cards, and global treasury management. Their platform is designed to integrate seamlessly with payroll and accounting software, making financial management more efficient for businesses.
With a small but dedicated team of 1-10 employees, Meow is committed to revolutionizing the way businesses handle their finances, offering features like free wires, ACH, and checks, as well as custom-branded invoicing and spend controls.
How Much Funding Has Meow Raised?
- Seed Round
- Amount Raised: $5M
- Date: November 2021
- Lead Investors: Archetype
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch the platform and support initial growth.
- Series A
- Amount Raised: $22M
- Date: July 2022
- Lead Investors: Tiger Global Management, QED Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth through new hires and enhanced product features.
Meow has raised a total of $27M in funding. The current valuation is not publicly disclosed.
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a leading investment firm that focuses on private and public companies globally. They have a strong presence in the Internet, software, consumer, and financial technology sectors.
- Investment Focus Areas: Internet, software, consumer, financial technology
- Notable Investments: Facebook, LinkedIn, Stripe
- QED Investors
- Details: QED Investors is a venture capital firm specializing in early-stage, disruptive financial services companies. They are known for their deep expertise in the fintech sector.
- Investment Focus Areas: Financial services, fintech, early-stage companies
- Notable Investments: Credit Karma, SoFi, Nubank
- Archetype
- Details: Archetype is a venture capital firm that invests in early-stage technology companies. They focus on companies that have the potential to disrupt traditional industries.
- Investment Focus Areas: Technology, early-stage companies, disruptive industries
- Notable Investments: Not publicly disclosed
- FTX
- Details: FTX is a major cryptocurrency exchange known for its innovative trading products and services. They have quickly become a significant player in the digital asset space.
- Investment Focus Areas: Cryptocurrency, digital assets, trading platforms
- Notable Investments: Various cryptocurrency projects and exchanges
- Coinbase Ventures
- Details: Coinbase Ventures is the investment arm of Coinbase, one of the largest cryptocurrency exchanges in the world. They focus on early-stage cryptocurrency and blockchain startups.
- Investment Focus Areas: Cryptocurrency, blockchain, early-stage startups
- Notable Investments: Compound, OpenSea, BlockFi
What's Next for Meow?
Meow is poised to capitalize on the burgeoning cryptocurrency market, with opportunities to expand its product offerings and capture a larger share of corporate finance. The company plans to enhance its platform with GAAP accounting solutions and cross-border payment options, aiming to become a comprehensive solution for corporate finance needs. With nearly $100 million in assets under management, the potential for growth is substantial.
Future fundraising efforts seem likely, given the successful Series A round and the rapid growth trajectory. However, Meow will need to navigate regulatory challenges and intense competition in the cryptocurrency space. Ensuring compliance and managing cross-border transactions will be critical as they scale.
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