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It also comes on the heels of a 4x increase in annual recurring revenue in 2021, the company said, although it declined to reveal hard revenue figures. We become the layer on top of which all these companies can launch products.” The company plans to use its new capital to grow its team of 30 and increase the pace of product development with the goal of launching new products and adding new features to existing ones in the coming months. Since Stilt has state lending licenses and an existing compliance framework, it says it is able to help companies develop their own credit offerings while it manages “all the complexity of origination, payments and credit reporting” for them. But starting today, Stilt said, any fintech or digital bank that wants to offer credit building tools, revolving lines of credit or personal loans to its customers could do so using its API-powered product. , Y Combinator-backed Stilt says it has lent to people from more than 150 countries around the world.“The core idea started with wanting to help international students get access to higher-quality and affordable credit,” Mittal said. We think Stilt is a great player in this ecosystem given its credit infrastructure.”Also participating in the financing were Petrushka Investments, Hillsven Capital and angel investors including Gokul Rajaram, former Stripe COO Claire Hughes Johnson, Checkout.com CTO Ott Kaukver, Superhuman CEO Rahul Vohra, Josh Buckely and others.
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