Petal, a New York City-based creator of an innovative credit card for people, raised $34M in financing.
– Jefferies, which provided a variable funding note facility, and
– Silicon Valley Bank, which provided an operating company facility.
The company intends to use the funds for the public roll-out of the Petal Visa credit card.
Led by CEO and co-founder Jason Gross, Petal provides people with a credit card with no fees, no financial traps and no prior experience with credit required.
Have a look at the product here.