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Goldman leads $50 million investment in credit-card start-up Deserve

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Kalpesh Kapadia, Deserve CEO

Courtesy of Kalpesh Kapadia

Goldman Sachs is betting on a Silicon Valley start-up that’s seeking to modernize the systems underpinning the credit-card industry.

The bank is lead investor in a $50 million round in Deserve, a firm that offers credit-cards directly to nontraditional consumers  with little credit history and other deficiencies using a cloud-based platform to determine their creditworthiness. It also sells that platform to corporations for them to offer their own branded cards.

The company, which started out as SelfScore in 2013, initially targeted international students who couldn’t get traditional credit cards. It later opened up to other groups…



Source cnbc.com

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