SelfScore, a Palo Alto, Calif.-based fintech company using data analytics and machine learning to measure credit potential, closed $7m in additional Series A funding.
The round, which brought total funding to over $15m, was led by Pelion Venture Partners, with participation from Accel and Aspect Ventures. In conjunction with the funding, Blake Modersitzki, managing partner at Pelion Venture Partners, will join its Board of Directors.
The company will use the funds to scale its credit card offerings, accelerate new product development for international students, and grow its nationwide presence across college campuses, and continue to expand its internal team.
Led by CEO and co-founder Kalpesh Kapadia and Chief Marketing Officer Venkat Bala, SelfScore offers a Mastercard credit card designed for international students in the United States. By utilizing analytics and machine-learning, he company analyzes a borrower’s education, source of funding, and career prospects, to identify creditworthy international students who are otherwise labeled as “thin-file” or “no-file” using traditional credit bureau checks.
The company’s accounts are issued by Celtic Bank, a Utah Chartered Industrial Bank, Member FDIC.