Intuit Launches Venture Capital Division

MOUNTAIN VIEW&&num;8212&semi; Intuit Inc&period;, the financial software company known for <a href="https&colon;//turbotax&period;intuit&period;com/" target="&lowbar;blank" rel="nofollow noopener" shape="rect">TurboTax</a>, <a href="https&colon;//quickbooks&period;intuit&period;com/" target="&lowbar;blank" rel="nofollow noopener" shape="rect">QuickBooks</a>, <a href="https&colon;//www&period;mint&period;com/" target="&lowbar;blank" rel="nofollow noopener" shape="rect">Mint</a> and <a href="https&colon;//www&period;creditkarma&period;com/" target="&lowbar;blank" rel="nofollow noopener" shape="rect">Credit Karma</a>, is getting into the venture capital business with the launch of <a href="http&colon;//www&period;intuit&period;com/ventures" target="&lowbar;blank" rel="nofollow noopener" shape="rect">Intuit Ventures</a>, its corporate venture capital arm&period;&NewLine;Intuit Ventures will help accelerate innovation for businesses and consumers through the companies it invests in, driving future innovations for consumers and small businesses&period; The program will primarily invest in series B and C-stage companies that are solving small businesses and consumers’ biggest problems, with areas of interest including fintech, virtual expertise, consumer finance, omni-channel commerce, AI-enabled services and crypto/DeFi&period;&NewLine;&OpenCurlyDoubleQuote;Our mission of powering prosperity around the world inspires us to solve our customers’ most important financial challenges&period; Innovation both within Intuit and outside the company is critical to achieving our mission,” said Shveta Mujumdar, Vice President of Corporate Development and leader of Intuit Ventures at Intuit&period; &OpenCurlyDoubleQuote;We have always supported the ecosystem around us with our open platform, and we’ve been partnering with startups on our platform for many years&period; Intuit Ventures accelerates our ability to empower entrepreneurs and the start-up community, and invest directly in their success&period;”&NewLine;Intuit Ventures completed its first investment in <a href="https&colon;//clear&period;co/" target="&lowbar;blank" rel="nofollow noopener" shape="rect">Clearco</a>, a high-growth series C-stage startup which offers unbiased, non-dilutive capital to digitally-native businesses and leverages data and insights to help them scale&period; Clearco strongly aligns with Intuit Ventures’ focus on fintech and omni-channel commerce as well as Intuit’s focus on small business success&period;&NewLine;&OpenCurlyDoubleQuote;When we considered investors in our latest fundraising, Intuit stood out based on their deep expertise with small businesses and our strategic alignment with their mission,” said Michele Romanow, Co-founder and CEO of Clearco&period; &OpenCurlyDoubleQuote;We are proud to be the newest portfolio company of Intuit Ventures and are thrilled to have the support of such a strong technology company&period;”&NewLine;

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