Self Financial (Self.inc), a leading fintech startup enabling consumers to build credit and savings, today announced the close of a $40 million round of Series D financing, led by Meritech Capital with participation from its existing investors, including Altos Ventures, Conductive Ventures and Silverton Partners. The funding brings the company’s total to $77 million and comes on the heels of its $20 million Series C raise in February.
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In 2020 Self has seen its active customer base rise 250% and its employee count increase from 50 to 115.
The Series D round will continue to fuel Self’s ability to reach and best serve its customers, enabling them to build credit and build savings even amidst the economic challenges of the pandemic.
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Self provides tools for its customers geared toward building positive behaviors (such as on-time payment history and responsibly using credit) and long-term success, working in partnership with its issuing banks. With the Self Credit Builder Account consumers simultaneously tackle both credit and savings without requiring a hard credit inquiry or credit history. The Self Visa® Credit Card is a unique secured credit card that doesn’t require a credit check and provides existing Self customers the ability to build their security deposit in installments rather than a large upfront deposit.
CEO James Garvey co-founded Self in 2015 after a time where he thought he set up his credit cards for automatic payments, yet hadn’t. When he realized his mistake a few months later his credit score had already fallen from 750 to 594. The experience gave him a deeper appreciation of the challenges millions of Americans face in building and maintaining credit, and so he decided to use his background as a technologist and entrepreneur to develop a better solution to help people overcome those obstacles.
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