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Petal

Fintech · New York, US · petalcard.com

Credit card startup using cash-flow underwriting to help build credit.

Founders

Jason Gross (United States · ♂) — A Harvard-trained lawyer, he co-founded Petal to issue a no-fee credit card to people without credit scores by underwriting on cash-flow data via a proprietary 'Cash Score'.
Andrew Endicott (United States · ♂) — A former corporate lawyer and Lazard investment banker, he co-founded Petal to expand fair credit access using alternative underwriting.
David Ehrich (United States · ♂) — A financial-services veteran, he co-founded Petal to build an inclusive, fee-free credit card.
Jack Arenas (United States · ♂) — A technical co-founder of Petal, he helped build the cash-flow underwriting engine behind the company's credit cards.

Date	Round	Amount
Apr 2024	Acquired by Empower Finance Empower Finance agreed to acquire credit-card startup Petal; terms undisclosed.	—
May 2023	Bridge Petal raised an additional $35M in strategic financing while spinning off its data unit, with Synchrony Bank and Samsung Next participating.	$35M
Jan 2022	Series D Plus Credit-card fintech Petal raised a 140M USD Series D led by Tarsadia Investments at an 800M USD valuation.	$140M

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