What is Deserve?
Deserve operates as a premier mobile-first credit card platform, distinguished by its cloud-native and API-enabled architecture. By bridging the gap between traditional financial institutions and modern digital expectations, the company empowers fintechs, lenders, and merchant co-brands to deliver highly personalized cardholder experiences. Its platform is engineered to handle the complexities of modern credit issuance, offering a seamless integration layer that allows partners to deploy competitive financial products with greater agility and precision than legacy systems permit.
How much funding has Deserve raised?
Deserve has raised a total of $387.4M across 8 funding rounds:
Series A
$7M
Series B
$12M
Series C
$17M
Other Financing Round
$50M
Debt
$350K
Series D
$50M
Debt
$250M
Series A (2016): $7M led by Pelion Venture Partners, Accel, and Aspect Ventures
Series B (2017): $12M supported by Accel
Series C (2018): $17M featuring Pelion Venture Partners, Aspect Ventures, Alumni Ventures, GDP Venture, Accel, and Mission Holdings
Other Financing Round (2019): $50M backed by Sallie Mae, Aspect Ventures, Goldman Sachs, Pelion Venture Partners, Accel, and Mission Holdings
Debt (2020): $350K with participation from PPP
Series D (2021): $50M led by Sallie Mae, Goldman Sachs Asset Management, Mastercard, Ally Ventures, and Mission Holdings
Debt (2022): $250M supported by Cross River Bank, Goldman Sachs, and Waterfall Asset Management
Key Investors in Deserve
Goldman Sachs
Goldman Sachs is a leading global investment banking, securities, and investment management firm providing a wide range of financial services to corporations, governments, and institutional clients.
Mission Holdings
Mission Holdings is the strategic investment vehicle for billionaire entrepreneur Saurabh Mittal, focusing on building industry-leading global-scale businesses in software, services, and fintech.
Accel
Accel is a prominent venture capital firm that partners with exceptional founders to build and scale transformative technology companies across various global markets.
What's next for Deserve?
With the support of its latest capital injection, Deserve is well-positioned to deepen its market penetration and enhance its technological stack. The company's strategic focus remains on scaling its enterprise-grade infrastructure to meet the increasing demand for embedded finance solutions. As the industry shifts toward more integrated, data-driven credit models, Deserve is poised to leverage its existing partnerships and robust balance sheet to maintain its competitive edge. Future growth will likely center on expanding its suite of API-enabled services, further solidifying its position as a critical utility in the global financial services ecosystem.
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