Update: Petal’s no-fee credit card for the credit score-less is now open to the public

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Petal, the startup credit card company that’s offering a no-fee credit line to people without a credit history, is now publicly available.

Launched earlier this year by co-founders Jason Gross, Andrew Endicott, David Ehrich, and Jack Arenas, Petal has received a $34 million credit facility from Jeffries and Silicon Valley Bank to bring its consumer lending product to the masses.

That money will take Petal beyond the few thousand customers that have trialed the company’s credit card in a pre-release to broad distribution for applicants.

Continue reading… “Update: Petal’s no-fee credit card for the credit score-less is now open to the public”

Cignifi raises funding to provide credit scores for people in emerging markets

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Cignifi relies solely on mobile phone behavioral data.

Financial institutions, in the developed world, use credit history in order to assess a person’s creditworthiness and subsequently issue them financial products at personalized terms.. Unfortunately, that’s difficult to do in emerging markets, where mobile phones are more prevalent than traditional credit history.

 

 

Continue reading… “Cignifi raises funding to provide credit scores for people in emerging markets”

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