Intuit Launches Venture Capital Division

<p><strong>MOUNTAIN VIEW<&sol;strong>&&num;8212&semi; Intuit Inc&period;&comma; the financial software company known for <a href&equals;"https&colon;&sol;&sol;turbotax&period;intuit&period;com&sol;" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener" shape&equals;"rect">TurboTax<&sol;a>&comma; <a href&equals;"https&colon;&sol;&sol;quickbooks&period;intuit&period;com&sol;" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener" shape&equals;"rect">QuickBooks<&sol;a>&comma; <a href&equals;"https&colon;&sol;&sol;www&period;mint&period;com&sol;" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener" shape&equals;"rect">Mint<&sol;a> and <a href&equals;"https&colon;&sol;&sol;www&period;creditkarma&period;com&sol;" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener" shape&equals;"rect">Credit Karma<&sol;a>&comma; is getting into the venture capital business with the launch of <a href&equals;"http&colon;&sol;&sol;www&period;intuit&period;com&sol;ventures" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener" shape&equals;"rect">Intuit Ventures<&sol;a>&comma; its corporate venture capital arm&period;<&sol;p>&NewLine;<p>Intuit Ventures will help accelerate innovation for businesses and consumers through the companies it invests in&comma; 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&comma; with areas of interest including fintech&comma; virtual expertise&comma; consumer finance&comma; omni-channel commerce&comma; AI-enabled services and crypto&sol;DeFi&period;<&sol;p>&NewLine;<p>&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&comma;” said Shveta Mujumdar&comma; 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&comma; 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&comma; and invest directly in their success&period;”<&sol;p>&NewLine;<p>Intuit Ventures completed its first investment in <a href&equals;"https&colon;&sol;&sol;clear&period;co&sol;" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener" shape&equals;"rect">Clearco<&sol;a>&comma; a high-growth series C-stage startup which offers unbiased&comma; 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;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;When we considered investors in our latest fundraising&comma; Intuit stood out based on their deep expertise with small businesses and our strategic alignment with their mission&comma;” said Michele Romanow&comma; 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;”<&sol;p>&NewLine;