Sequoia, 120 angel investors back former Google execs’ consumer finance startup Arbo Works
The startup isn’t saying how much the round is worth, but two sources close to the situation tell TechCrunch it’s an eight-figure investment. On Thursday”This group includes Fortune 500 CEOs, successful startup founders, top executives from tech and financial institutions, and profound AI and ML practitioners,” he stated.Arbo Works was founded by eight co-founders, all of whom worked at Google. Indeed, Arbo Works has 21 collaborators on its website, 20 of whom previously worked at Google (several of whom worked on the company’s payments product).
In an interview with TechCrunch, Sengupta, who previously oversaw Google’s Next Billion Users programme and is depicted above, said the funds provide Arbo Works runway for several years. “This is a pivotal round,” he stated.”We’ve had a lot of fun working together.” “It may sound strange, but I would continue to work with them in whatever capacity, even if it meant selling bananas,” he joked. “A lot of this group coalesced around Sundar (Pichai, Google’s CEO), working on Chrome OS, despite the fact that Google is a massive organisation.” “The gang kept together; in fact, when I came here, several of them migrated to Asia,” he remarked.
So, what is Arbo up to now, with offices in Singapore and the United States? Sengupta isn’t ready to reveal everything just yet. However, he provided some perspective for the startup’s opportunity. Tez, a peer-to-peer payments app that Sengupta worked on and released in India, has found an untapped area in the world of consumer finance, according to Sengupta.
“We believe that the financial world as a whole can be greatly improved.” We’re seeing a fraction of this reinvented with payments, but when it comes to your money, the customer experience still has a lot of room for improvement. It’s a brand-new segment of the consumer finance market. “With deep tech, we want to create exceptional user experiences,” he stated.
Arbo Works is starting to hire additional individuals and is searching for people who are passionate about producing a long-term product and have similar values. “We want folks who want to work with fantastic people and build something they can look back on and say they helped construct when they’re 70 years old.”
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