Milo secures $6m in seed capital

Digital banking and lending startup Milo has netted $6m in seed funding to grow its team and boost innovation.

QED Investors led the raise with participation of MetaProp and 10X Capital.

“Our mission is to reimagine how global consumers access financial solutions in the US – in a way that actually caters to them,” said Josip Rupena, CEO and founder of Milo.

“Today, that means delivering a simple, fully digital home lending approach while offering a deep understanding of US investing. This funding is helping us move closer to fulfilling our mission for millions of global consumers. We’re thrilled to have QED and so many great investors on this journey with us.”

The news comes on the back of Milo announcing that it had processed over $100m in loan requests and opened two offices in Miami and Colombia.

“Global consumers’ financial needs are constantly evolving, creating a demand for unique and flexible solutions that support them in reaching their goals and achieving financial wellness,” said Matt Burton, partner at QED Investors.

“We’re excited that Milo is at the centre of this transformation and that QED can play a supporting role.”

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