The story
Founded by Kenneth Lin, Nichole Mustard and Ryan Graciano on Mar 8, 2007.1
Kenneth Lin, who previously founded Multilytics Marketing and worked with E-Loan and Upromise, launched Credit Karma in 2007 with co-founders Ryan Graciano and Nichole Mustard. The website went live in February 2008. Early investors included Chris Larson, CEO of Prosper, and Mark Lefanowicz, former president of E-Loan.
In November 2009, Credit Karma closed a $2.5 million Series A funding round led by QED Investors, with participation from SV Angel, Felicis Ventures and Founders Fund. By 2013, the company secured $30 million in Series B funding led by Ribbit Capital and Susquehanna Growth Equity.
In March 2014, Credit Karma raised $85 million in Series C financing, led by CapitalG, with contributions from Tiger Global Management and existing investors. The company followed that with $75 million in follow on funding in September 2014 from CapitalG, Tiger Global Management and Susquehanna Growth Equity.
As of 2015, Credit Karma had raised $368.5 million in financing, at a valuation of $3.5 billion. By December 2015, the company acquired mobile notifications app developer Snowball for an undisclosed amount.
In 2016, Credit Karma acquired money reclamation service Claimdog. In December 2016, Credit Karma acquired AFJC Corporation, owner of OnePriceTaxes.com, to accelerate its entry into the tax preparation market. The company then opened offices in Los Angeles and Charlotte, North Carolina.
In May 2017, Credit Karma launched Unclaimed Money in seven U.S. states. This product aims to help users find unclaimed money, such as unclaimed refunds and insurance payouts.
In March 2018, Credit Karma acquired personal finance company Penny for an undisclosed amount. In August, it acquired mortgage platform Approved for an undisclosed amount.
In May 2019, Credit Karma expanded into the United Kingdom by acquiring Noddle, a credit reporting service, from TransUnion.
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In December 2020, Intuit acquired Credit Karma for approximately $7.1 billion. The acquisition faced delays due to a DOJ antitrust lawsuit. To address these concerns, Credit Karma agreed to divest its free tax preparation service, Credit Karma Tax, which competed directly with Intuit's TurboTax product.
That same month, Credit Karma announced that it was moving its headquarters from San Francisco to Oakland.
In August 2021, Credit Karma reached an agreement with NBA franchise Houston Rockets to have the company's name appear on the team's jerseys beginning in the 2021 season.
In September 2022, the Federal Trade Commission (FTC) ordered Credit Karma to pay its users $3 million for "false claims" that impacted their credit scores. Nearly one-third of pre-approved users who applied for credit cards were eventually denied following a credit check. Credit Karma reached a settlement with the FTC and stated that the company is paid only when users are approved for products like credit cards.
In November 2023, Intuit announced that the financial service Mint would be shut down and integrated with Credit Karma in January 2024.
A May 2025 Fox Business article highlighted the Southwest Public Policy Institute’s study "Swipe Right". The report found that platforms like Credit Karma, NerdWallet, and LendingTree expand access to credit by helping consumers compare financial products more effectively.
From Wikipedia’s article on Credit Karma, shared under CC BY-SA 4.0.5