Fintech Startup Petal Closes $3.6 Million

Petal announced it has secured $3.6 million in seed financing. Seven investors participated in the round: Brooklyn Bridge Ventures, afore.vc, Rosecliff Ventures, Guild Capital, Great Oaks Venture Capital, Story Ventures, and Silicon Badia.

Petal uses machine learning and product design to create innovative consumer financial products. Its first product, the Petal credit card, uses a new process to approve card holders. The company looks at the money people make and the bills they already pay to help them qualify instantly. People can get credit cards and start building their credit scores faster, even if Petal is their first credit card. See Newscenter.io’s previously published feature story about the Petal credit card here.