Petal gets $13 million to build a credit card for those without a credit history

Petal gets $13 million to build a credit card for those without a credit history


You might be enjoying the benefits of a credit card with robust rewards today, but odds are when you were first getting started, it was hard to get even close to a card like that.

That’s because, for those just getting started or who have a poor credit history, those cards are generally out of reach — and a lot of them are, Petal co-founder Jason Gross said. That’s why he and his co-founders looked to start Petal, a service that identifies candidates that would be good credit card holders even if they don’t have a credit history, based on some of their actions rather than just their credit score. The startup said today that it has raised $13 million in a new financing round led by Valar Ventures.

“That has to do with critical changes in the market and access to do with…

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