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Petal
Credit card service & app
- 101-200 employees
- Fintech
- B2C
- Personal finance
- Credit cards
- Hudson Square, New York, NY
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Company mission
To help more people access and build credit using data many of us already have in our personal banking history.
Our take
Typically, individuals with poor or minimal credit history run into difficulties when applying for credit cards, and can find their requests declined. Petal is a credit card startup that offers credit cards to people without a traditional credit history, making cards more accessible for all.
It separates itself from traditional credit companies by focusing on the potential user’s cash flow instead of traditional credit scores to assess creditworthiness. This gives potential borrowers – including young people, students, and immigrants – the ability to use a credit card when others may turn them down.
Petal has raised an impressive amount of funding and significantly expanded since its launch, with almost 400,000 consumers having been approved for Petal credit cards. It is currently working to further extend its credit card program, and has invested in spinning out the "Prism Data" unit of its business into an independent company. Petal has also stated the aim of achieving profitability in 2024.
Kirsty
Company Specialist at Welcome to the Jungle
Benefits
- Work wherever - at our offices in NYC and RVA, or remotely
- Team events - From our annual company Homecoming to team happy hours & offsites, we like to have fun IRL and virtually
- Learning & development - We host regular Lunch & Learns, provide teams with individual education budgets, and organize peer learning communities for our managers
- Unlimited PTO - Take the time off that you need. Really, we mean it. Employees also earn a 6-week paid sabbatical after 4 years with Petal
Funding (last 2 of 8 rounds)
Aug 2023
$20m
LATE VC
May 2023
$35m
SERIES D
Total funding: $351.6m
This company has top investors
Leadership
David Ehrich
(Senior Advisor)A fintech entrepreneur and expert in strategy, product, marketing, business development, and policy. Prior to Petal, worked as General Manager in B2B client management at American Express and now sits as an advisor on multiple boards.
Diversity, Equity & Inclusion at Petal
- Growing mindsets: We host regular training programs designed to create safe spaces to share, connect, and listen to our teammates. We’re working hard to make our employees’ experience as fair and equitable as possible — from interviewing and onboarding stages to performance reviews and promotion processes
- Tracking progress: We share quarterly internal hiring reports and our Diversity Officer conducts an audit of our People Team’s practices annually
- Building bonds: Our employee resource groups (ERGs) provide places for our team to find connections through shared experiences and form networks of support, community, and belonging
- Hiring equitably: We use a “structured interviewing” framework to ensure all candidates are evaluated equally throughout the interview process. We also encourage those whose experience doesn’t exactly match our job descriptions to apply — we’re always open to diverse perspectives