Recently, the Deserve platform successfully raised a whooping $50 million, thanks to some big-time investors. Since the inception of the Deserve credit card platform, it has been successful in raising large amounts of money for different projects. However, before we delve into this amazing success of the Deserve company, it’s important to point out what exactly the platform is about. Even though, the Deserve platform has become popular for offering credit cards, a lot of prospective clients do not know exactly what the platform is. If you happen to fall into this category, then you’re in luck, as this article will be all about the Deserve Credit Card Platform.
What They Are All About
If you’re not already familiar with this platform, its primary purpose is to provide credit solutions to basically anyone. From students to business owners, the Deserve platform makes it easy to keep track of your credit score. Hence, the cloud based and API based platform allows even people with bad credit to enjoy such solutions easily. Also, what’s great about the platform is the fact that you do not need a Social Security Number to apply.
The platform offers a Deserve EDU card made specifically for students, both local and international. This credit card offers the following features to users;
- 1% cashback on all purchases.
- No annual charges for using the credit card.
- Cell phone protection.
Also, it offers Deserve PRO credit card available for mainly business owners. It offers;
- Cash back of 3% on travel, 2% on restaurants and 1% on any other expenditure.
- No annual charges.
- Cell phone protection.
Currently, the Deserve platform provides credit solutions to 100,000 users.
Why Deserve Is Making Strides
Deserve has slowly become popular amongst the younger generation, which are mostly students. According to research, students make up only 5% of credit card users in the United States. This is usually because many young users do not have an established credit history. However, with an easier means to apply for credit directly from their phones, the statistics are set to increase. Another major feature of the Deserve platform is that it utilizes machine learning and artificial intelligence to handle data analyzing to underwrite the large population.
Series C Funding
This week, the Deserve platform has raised over $50 million with the help of financial giants like Goldman Sachs, Sallie Mae, Pelion Venture Partners, Aspect Ventures, Mission Holdings and Accel. According to the CEO, the funds will be directed to the establishment of the platform’s “Card as a Service” (CaaS) platform. This platform will help brand owners tailor credit card options to suit their customer bases. In addition, the platform, has, also, promised a quick setup process (90 days) as opposed to the usual 18-24 months.
This recent funding combined with the raise gotten from the previous in 2018, sums up to over $100 million.
If you have a history of credit issues and you are ready to start fixing them, you need the knowledge and experience of a credit counselor and attorney. Elias Dsouza has been guiding people through credit restoration for over 15 years. Contact Elias today for a free consultation.