# Petal Card Startup profile on Capital Atlas: https://capitalatlas.ai/startups/petal-card - Industry: Financial Services - Headquarters: Atlanta, US - Website: www.petalcard.com - Total disclosed funding: $243M - Latest round: Series D (Jan 5, 2022) - Investors on record: 30 ## About Petal Card, Inc. is a financial technology company based in the US that provides innovative credit solutions aimed at helping consumers manage and build their credit history responsibly.Petal Card, Inc. specializes in offering modern credit solutions. Founded in 2016 in Atlanta, US, it has successfully raised a total of USD 20.00 mn through various funding rounds, with the most recent being a VENTURE DEBT round of USD 220.00 mn in April 2024 from investors including Trinity Capital Investment and Victory Park Capital. The company was established by a team of founders including Aaron Crane, Berk Ustun, Chi Feng, David Ehrich, Gustavo M, Hunter Zhao, Jack Arenas, Jason Gross, and Jason Rosen, with Gustavo M serving as CEO.Petal offers a suite of financial products designed to provide responsible credit solutions tailored for modern consumers. The company's core offering is its credit card, which aims to help individuals build and manage their credit history effectively. Unlike traditional credit card offerings, Petal’s product utilizes innovative technology that assesses applicants' financial health through their banking transactions rather than solely relying on credit scores. This approach allows Petal to serve a diverse customer base, including younger consumers and those new to credit, who often face challenges in accessing conventional credit options. The Petal card was released to market in 2018 and is available in the United States, targeting consumers who seek transparent fees and responsible credit management.Petal generates revenue primarily through interest charges and fees associated with its credit card offerings. The structure of transactions typically involves direct relationships with consumers who use the card for various purchases. Customers may utilize the Petal card at retail locations or online merchants, leading to transaction fees that contribute to the company's revenue stream. Furthermore, Petal's revenue model may include potential partnerships with retailers, enabling promotional offers that encourage the use of their credit product. Pricing plans associated with the card reflect a commitment to transparency, focusing on providing a cost-effective solution for consumers looking to build their credit without incurring hidden fees or unexpected charges.In April 2024, Empower Finance, Inc. agreed to acquire Petal Card, Inc. from several investors. This acquisition is aimed at enhancing Empower Finance's credit offerings and increasing participation in both established and emerging credit economies. The recent funding will support the integration of Petal’s technology into Empower Finance's offerings, potentially leading to new product development and market expansion. ## Funding rounds - Series D, Jan 5, 2022, $140M — Valar, Encore Bank, Tarsadia Investments, Anchor Capital, RiverPark Advisors, Gaingels, Afore Capital, Volery Capital Partners, Gopher Asset Management, CUNA Mutual Group - Series C, Mar 26, 2021 — Sand Hill Angels - Series C, Dec 19, 2019, $55M — Rosecliff Ventures, Valar, Great Oaks Venture Capital, Starta Ventures, RiverPark Advisors, Ride Ventures, Abstract Ventures, Afore Capital, Nelstone Ventures, GR Capital, The Gramercy Fund, Adventure Collective - Series B, Nov 14, 2018, $30M — Rosecliff Ventures, Valar, RiverPark Advisors, Third Prime Capital, Afore Capital, Story Ventures, Greyhound Capital - Series A, Dec 15, 2017, $13M — Rosecliff Ventures, Valar, Great Oaks Venture Capital, Brooklyn Bridge Ventures, New Ground Ventures, RiverPark Advisors, Third Prime Capital, Ride Ventures, Abstract Ventures, Afore Capital, Story Ventures, Maycomb Capital, The Gramercy Fund - Seed, Sep 10, 2017, $3.6M — Rosecliff Ventures, Great Oaks Venture Capital, Brooklyn Bridge Ventures, Silicon Badia, New Ground Ventures, Guild Capital, Ride Ventures, Abstract Ventures, Afore Capital, Story Ventures, Incite Ventures, The Gramercy Fund - Seed, Apr 1, 2017 — Noemis Ventures - Seed, Dec 15, 2016, $1.6M — Brooklyn Bridge Ventures ## Investors - Brooklyn Bridge Ventures (https://capitalatlas.ai/funds/brooklyn-bridge-ventures) — Seed, Series A - Noemis Ventures (https://capitalatlas.ai/funds/noemis-ventures) — Seed - Rosecliff Ventures (https://capitalatlas.ai/funds/rosecliff-ventures) — Seed, Series A, Series B, Series C - Great Oaks Venture Capital (https://capitalatlas.ai/funds/great-oaks-venture-capital) — Seed, Series A, Series C - Silicon Badia (https://capitalatlas.ai/funds/silicon-badia) — Seed - New Ground Ventures (https://capitalatlas.ai/funds/new-ground-ventures) — Seed, Series A - Guild Capital (https://capitalatlas.ai/funds/guild-capital) — Seed - Ride Ventures — Seed, Series A, Series C - Abstract Ventures (https://capitalatlas.ai/funds/abstract-ventures) — Seed, Series A, Series C - Afore Capital (https://capitalatlas.ai/funds/afore-capital) — Seed, Series A, Series B, Series C, Series D - Story Ventures (https://capitalatlas.ai/funds/story-ventures) — Seed, Series A, Series B - Incite Ventures (https://capitalatlas.ai/funds/incite-ventures) — Seed - The Gramercy Fund (https://capitalatlas.ai/funds/the-gramercy-fund) — Seed, Series A, Series C - Valar (https://capitalatlas.ai/funds/valar) — Series A, Series B, Series C, Series D - RiverPark Advisors (https://capitalatlas.ai/funds/riverpark-advisors) — Series A, Series B, Series C, Series D - Third Prime Capital (https://capitalatlas.ai/funds/third-prime-capital) — Series A, Series B - Maycomb Capital — Series A - Greyhound Capital (https://capitalatlas.ai/funds/greyhound-capital) — Series B - Starta Ventures (https://capitalatlas.ai/funds/starta-ventures) — Series C - Nelstone Ventures (https://capitalatlas.ai/funds/nelstone-ventures) — Series C - GR Capital (https://capitalatlas.ai/funds/gr-capital) — Series C - Adventure Collective (https://capitalatlas.ai/funds/adventure-collective) — Series C - Sand Hill Angels (https://capitalatlas.ai/funds/sand-hill-angels) — Series C - Encore Bank — Series D - Tarsadia Investments — Series D - Anchor Capital — Series D - Gaingels (https://capitalatlas.ai/funds/gaingels) — Series D - Volery Capital Partners — Series D - Gopher Asset Management (https://capitalatlas.ai/funds/gopher-asset-management) — Series D - CUNA Mutual Group — Series D