Totem recently announced that it raised $2.2 million in pre-seed funding. The round was led by Raven Indigenous Capital Partners. Exbo supported Totem by assisting in detailed pricing analysis, providing in-depth cash runway analysis and developing financial projections.
Other key investors included Alloy Alchemist Fund, Debut Capital, Ruthless for Good and the Candide Group.
Amber Buker, founder and CEO of Totem, said their focus is to “change the status quo and create a new tradition of Native wealth building. We’re doing it in a way that honors and uplifts our people.” The funding will be used to hire new staff as Totem works to build the app from scratch.