Deserve, a credit card startup as well as a cloud-based credit card platform for businesses, has raised USD 50 million in a new round of Series C funding led by Goldman Sachs, according to TechCrunch.
Others participating in the round include existing investors Sallie Mae, Accel, Aspect Ventures, Pelion Venture Partners and Mission Holdings.
The funds will be put toward Deserve’s further development of what it calls its card-as-a-service (CaaS) platform, which helps businesses, brands and others tailor credit card products to their own customer bases.
Deserve’s cloud-based and API-based Deserve Credit Platform promises partners the ability to set up a program in as fast as 90 days, instead of the typical 18 to 24 months. It also leverages technology like machine learning alongside traditional financial data and other alternative and proprietary data sources in order to underwrite a larger population — including those who may be new to credit.
For more information, you can read the full announcement here.
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