Credit card start-up Petal has raised $13m in a series A funding round for its alternative to credit scoring. The company is looking at ways of helping people manage their finances and make better decisions about how they spend money. It aims to make safe and affordable credit accessible to everyone, including those historically underserved by the financial services industry. The funding round was led by Peter Thiel's Valar Ventures.
Credit card start-up Petal has raised $13m in a series A funding round for its alternative to credit scoring. Petal uses cashflow underwriting technology for real-time analysis of a consumer's digital financial record. It aims to make safe and affordable credit accessible to everyone, including those historically underserved by the financial services industry. The funding round was led by Peter Thiel's Valar Ventures.