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Industries
Fintech
Financial Services
Company Size
51-200
Company Stage
Debt Financing
Total Funding
$445.4M
Headquarters
Palo Alto, California
Founded
2013
Deserve provides credit card solutions tailored for different market segments, including college students and businesses wanting to offer co-branded credit cards. Their main product is the "Credit Card as a Service" (CCaaS) platform, which allows businesses to quickly launch customized credit card programs. This platform is flexible, enabling partners to create cards that fit their branding and needs. For individual consumers, especially college students, Deserve offers credit cards designed to help them build credit history, with features like immediate digital wallet integration upon approval. Deserve earns revenue through interest charges, annual fees, and interchange fees for consumer cards, while businesses pay for the use of the CCaaS platform. The company's goal is to leverage technology to provide efficient credit solutions, making it a competitive player in the fintech market.
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Total Funding
$445.4M
Above
Industry Average
Funded Over
6 Rounds
401k program
Tuition assistance
electronics allowance
Comprehensive medical, dental & health coverage
Flexible PTO
Parental leave
Intuit is set to acquire mobile-first credit card platform Deserve, as announced on April 14. The acquisition includes key technology and team members from Deserve, aligning with Intuit's strategy to enhance its money management offerings. This move aims to address critical business challenges like cash flow management and real-time financial visibility, with over 80% of business failures linked to cash flow issues.
Intuit has signed an agreement to acquire key technology and welcome talented team members from Deserve, a mobile-first fintech company. This directly supports Intuit’s connected business platform strategy to help customers run and grow their business all in one place. This agreement aligns to our strategy to further invest in and expand our money offerings
Launch of new service will help clients report business tradelines to the major credit bureaus to enhance business profiles and mitigate risk for lenders . .
Deserve, a mobile-first credit card issuing platform, launched new digital processing capabilities that aim to help banks and credit unions transform digital payment experiences. The capabilities, built using Mastercard technologies, provide direct connectivity to the Mastercard network for mobile apps or software development kits, Deserve said in a Tuesday (Oct. 24) press release. They are intended to deliver modern digital card issuance experiences to banks, FinTechs and cardholders. “This is the latest in a series of collaborations that we have had with Mastercard in advancing digital issuing,” Deserve CEO Kalpesh Kapadia said in the release. “These new platform features will enable regional banks and credit unions to use digital processing capabilities to enhance credit card offerings for their customers and members.”
The new processing capabilities were built using Mastercard's Cloud Edge, and open banking platform.PALO ALTO, Calif., Oct. 24, 2023 /PRNewswire/ -- Deserve, a mobile-first credit card issuing platform, announced today the launch of new digital processing capabilities on the Deserve platform that can provide direct connectivity for mobile apps or software development kits to the Mastercard network. Financial Institutions of all sizes, including credit unions and banks, can use these new capabilities to offer innovative products and experiences designed to reduce operational complexity and enhance outcomes.The Deserve platform is designed to eliminate the obstacles of traditional credit card issuing by offering a full-stack platform aimed at providing an exceptional mobile-first customer experience, top-of-wallet benefits, and advanced fraud protection. With the Deserve platform, regional banks and credit unions can issue consumer and small business credit cards with configurable modules in origination, underwriting, rewards, credit policies, and fraud. The new mobile-integrated, issuer processing capabilities are built with Mastercard's Cloud Edge, a single point of connectivity to Mastercard products and services, offering robust security features, and the potential for scalability as well as Mastercard's open banking solutions, delivered by Finicity, a Mastercard company.These platform features enable regional banks and credit unions to use digital processing capabilities for credit cards. Post this"We've had a long-standing relationship with Mastercard and are thrilled to be offering digital credit card processing capabilities," said Kalpesh Kapadia, CEO of Deserve Inc
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Industries
Fintech
Financial Services
Company Size
51-200
Company Stage
Debt Financing
Total Funding
$445.4M
Headquarters
Palo Alto, California
Founded
2013
Find jobs on Simplify and start your career today