Credit card fintech Petal raises $55m
The fintech has raised a $55 million dollar Series C round led by Valar again, who not only led the company’s Series B, but also its $13 million Series A round back in 2018. The company has now raised about $100 million of equity capital all together.
Petal’s core differentiation is that it looks at the cash flow of potential borrowers rather than traditional credit scores to assess creditworthiness, helping to identify underbanked users who have the ability to be trusted with a credit card, but lack the formal statistics to prove it.
