NY-based Petal blossoms: Raised $34m in financing

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NY-based Petal blossoms: Raised $34m in financing

  • Petal a New York city based credit card start up raised $34 million in financing
  • The fintech has been backed by Jefferies, which provided a variable funding note facility; and Silicon Valley Bank, which provided an operating company facility
  • Intends to use the funds for the public roll out of the Petal Visa credit card
  • Offers a credit card offer with no fees, no financial traps and no prior experience with credit required
  • Petal launched its no fee credit card as part of a pilot programme at which point it debuted a mobile app thats lets users track their trending