Deserve raises USD 50 mln in Series D for credit card transformation

Friday 25 June 2021 07:45 CET | News

US-based fintech Deserve has raised USD 50 million Series D funding led by Mission Holdings, Mastercard, and Ally Ventures.

The funding was also completed with participation from Goldman Sachs Asset Management, Sallie Mae and other existing investors. The funding will be instrumental in modernising Deserve’s credit card stack, and enable the industry to launch and scale credit card programmes quickly via modern APIs. Deserve’s underwriting provides flexibility to partners that extends beyond FICO scores and leverages income and employment data to improve approval rates and credit performance, according to the press release.

Deserve provides single call resolution to customer queries leading to high NPS scores and reduced delinquencies, disputes and chargebacks, the company adds. Deserve’s core services are modular in nature and are API and SDK enabled so they can be deeply embedded in a partner's own core experience. The suite is augmented by business analytics tools for portfolio management.

Deserve is a credit card-as-a-service software platform that leverages Mastercard’s Digital First Program for instant issuance/provisioning for credit with uncompromising security and provides a seamless digital experience. 

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Keywords: funding, credit card, Mastercard, credit scoring
Categories: Payments & Commerce | Cards
Countries: United States
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Payments & Commerce

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