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Industries
Fintech
Financial Services
Company Size
51-200
Company Stage
Debt Financing
Total Funding
$1B
Headquarters
New York City, New York
Founded
2016
Petal offers a credit card service aimed at helping individuals, particularly those with limited or no credit history, to build their credit scores. Instead of relying solely on traditional credit scores, Petal evaluates applicants based on their bank data, spending, and saving habits, allowing them to extend credit to those who might be overlooked by other lenders. The company provides three types of credit cards, each with no annual fees and cash back rewards ranging from 2% to 10% at select merchants. Additionally, Petal has a program called "Leap" that rewards cardholders with a credit line increase after six months of on-time payments. Petal generates revenue through interest on carried balances and transaction fees from merchants. Their mobile app enhances the user experience by allowing customers to track their credit scores, view transactions in real time, and make payments easily. Petal's goal is to promote financial inclusion and responsible credit use.
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Total Funding
$1032.2M
Above
Industry Average
Funded Over
7 Rounds
Healthcare
Financial wellbeing
Vacation time and work from home priveleges
Sotck options and retirement benefits
Free lunch and meals
Petal PD enters into agreement with carfax for motor vehicle crash information.
Financial technology company. Empower <i class="fa fa-info-circle company-popover" data-content="h3Empower/h3. div
/PRNewswire/ -- Empower Finance, Inc. has entered into a definitive agreement to acquire Petal, a consumer credit card and financial technology company...
Credit card company Petal is reportedly seeking a buyer amid doubts about its viability. The company, which provides cards for consumers who are new to credit, is exploring a number of options following several months of struggle, Fortune Magazine reported Sunday (Nov. 19), citing five sources from the private equity, banking and venture capital (VC) sectors. Some of these sources say Petal is expected to go out of business if it doesn’t find a buyer, while others say that outcome is unlikely.
Credit card and fintech company Petal recently announced that it has closed a committed $200 million debt facility from Victory Park Capital (VPC), a global alternative investment firm specializing in private credit.
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Discover companies similar to Petal
Industries
Fintech
Financial Services
Company Size
51-200
Company Stage
Debt Financing
Total Funding
$1B
Headquarters
New York City, New York
Founded
2016
Find jobs on Simplify and start your career today
Discover companies similar to Petal