What is Deserve?
Deserve Inc. operates as a leading mobile-first credit card platform, distinguished by its cloud-native and API-enabled architecture. This advanced infrastructure empowers partners, including financial institutions, fintechs, lenders, and merchant co-brands, to deliver highly personalized and superior experiences for cardholders. The company's innovative approach allows for seamless integration and customization, catering to the evolving demands of both consumers and businesses seeking flexible and modern credit solutions. Deserve's commitment to technological advancement positions it at the forefront of digital finance.
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 Accel, Aspect Ventures, and Pelion Venture Partners
Series B (2017): $12M supported by Accel
Series C (2018): $17M featuring Accel, Mission Holdings, Aspect Ventures, GDP Venture, Alumni Ventures, and Pelion Venture Partners
Other Financing Round (2019): $50M backed by Aspect Ventures, Sallie Mae, Goldman Sachs, Pelion Venture Partners, Accel, and Mission Holdings
Debt (2020): $350K with participation from PPP
Series D (2021): $50M led by Goldman Sachs Asset Management, Mission Holdings, Sallie Mae, Ally Ventures, and Mastercard
Debt (2022): $250M supported by Cross River Bank, Goldman Sachs, and Waterfall Asset Management
Key Investors in Deserve
Mission Holdings
Mission Holdings is the strategic investment vehicle for billionaire entrepreneur Saurabh Mittal, focusing on building industry-leading global-scale businesses. The company invests in key areas such as software and services, asset management, fintech, and sports, aiming to redefine how the world works and connects.
Sallie Mae
Founded in 1972 and headquartered in Newark, Delaware, SLM Corporation, also known as Sallie Mae, is engaged in education finance. The Company's primary business is to originate and hold student loans.
Goldman Sachs
Goldman Sachs is a leading global investment banking, securities, and investment management firm. It provides a wide range of financial services to corporations, governments, and institutional and individual clients, including mergers and acquisitions advisory, underwriting, asset management, securities trading, and wealth management.
What's next for Deserve?
With the recent infusion of capital, Deserve is poised for accelerated expansion and further development of its core technology. The company's strategic focus will likely involve enhancing its partner ecosystem, refining its personalized cardholder experiences, and potentially exploring new market segments. The substantial backing from major financial entities suggests a strong confidence in Deserve's business model and its capacity to scale effectively. Future initiatives may include advancements in AI-driven credit scoring, expanded product offerings, and strategic partnerships to broaden its market reach, solidifying its position as a key innovator in the fintech industry.
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