Tongo will use these proceeds to expand product and team in its initial market of real estate, where Tongo empowers brokerages to offer agents on-demand access to pending commissions, which they can use like a line of credit to grow their business & stabilize cash flows. The round was led by MetaProp, with participation from New Valley Ventures, Good Friends, Launchpad, Elizabeth Street, Red Bike, Lab Ventures and Entrepreneur's Roundtable Accelerator. Tongo's fundraising to-date is $11 million.

Tongo works like a debit card on future income. Founded in 2021 by Brandon Wright, Luis Scull, John Macris and Patrick Waltinger, Tongo enables today's real estate professionals to invest in their businesses-and themselves-all year long, privately, while commissions are still locked up. Tongo gets paid back when agents get paid.