The funding comes in an effort to “double down” on its core mission of helping people access “honest, simple, and responsible credit,” according to the article. Petal’s Series C round was led by Valar Ventures with participation from a number other investors, including NFL player Kelvin Beachum, Jr.
“Rather than relying solely on credit scores, Petal has built proprietary technology that also analyzes banking history—measuring creditworthiness based on income, spending, and savings,” according to the article.