Deserve, a Palo Alto, Calif.-based fintech company transforming credit cards into a software that lives on mobile, raised $50m in Series D funding round.
The round was led by Mission Holdings, Mastercard and Ally Ventures with participation from Goldman Sachs Asset Management, Sallie Mae and other existing investors.
The company intends to use the funds to expand its business reach.
Led by Kalpesh Kapadia, CEO and Co-Founder, Deserve provides digital-first, mobile-centric API and SDK based credit card solutions. Using machine learning and alternative data, the company partners with financial institutions, fintechs, and modern consumer brands, universities and associations to develop, deploy and power white label and co-branded credit card programs.
Deserve’s core services are modular in nature and are API and SDK enabled so they can be deeply embedded in a partner’s own core experience. The suite of services is augmented by first-rate business analytics tools for portfolio management and more. The platform will allow the company to deliver additional lending products that might include Buy Now Pay Later, installment loans, and even payroll advance.
Sallie Mae, BlockFi, OppFi, Seneca Women, Notre Dame cards, and many more are using the company’s platform to offer an embedded and seamless credit card experience to customers and members.
FinSMEs
25/06/2021