What is Deserve?
Deserve Inc. operates a sophisticated, cloud-native, and API-enabled credit card platform designed to empower partners, including financial institutions, fintechs, lenders, and merchant co-brands, to deliver highly personalized experiences to cardholders. By leveraging advanced technology, Deserve facilitates the creation of tailored credit products, enhancing customer engagement and loyalty in the digital-first economy. The company's architecture is built for scalability and integration, enabling seamless deployment of innovative credit solutions.
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, Aspect Ventures, and Accel
Series B (2017): $12M supported by Accel
Series C (2018): $17M featuring Aspect Ventures, Mission Holdings, Accel, Pelion Venture Partners, GDP Venture, and Alumni Ventures
Other Financing Round (2019): $50M backed by Goldman Sachs, Pelion Venture Partners, Sallie Mae, Aspect Ventures, Mission Holdings, and Accel
Debt (2020): $350K with participation from PPP
Series D (2021): $50M led by Sallie Mae, Goldman Sachs Asset Management, Mastercard, Mission Holdings, and Ally Ventures
Debt (2022): $250M supported by Cross River Bank, Goldman Sachs, and Waterfall Asset Management
Key Investors in Deserve
Sallie Mae
Sallie Mae, a leading education finance company, has participated in Deserve's funding rounds, indicating a strategic interest in the fintech and credit card issuer space.
Mission Holdings
Mission Holdings, the strategic investment vehicle for entrepreneur Saurabh Mittal, focuses on building global-scale businesses in areas like fintech, demonstrating a commitment to innovative financial platforms.
Goldman Sachs
Goldman Sachs, a premier global investment banking firm, has provided significant capital to Deserve, highlighting its role in supporting growth-stage fintech companies.
What's next for Deserve?
With its recent major strategic investment and a history of significant capital raises, Deserve is well-positioned for accelerated expansion and product development. The company's focus on a mobile-first, API-driven approach suggests a strategic emphasis on enhancing its technological infrastructure and broadening its partner ecosystem. Future initiatives are likely to involve further innovation in personalized credit offerings, expanding into new market segments, and potentially exploring international growth opportunities. The substantial backing indicates confidence from investors in Deserve's business model and its capacity to disrupt traditional credit card markets.
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