FinTech Company FS Card Brings In $150 Million

FS Card announced the close of $150 million in financing from an undisclosed investor.

Founded in 2014, FS Card, Inc., delivers financial products to millions of Americans with subprime credit scores – those who don’t typically have access to credit cards or other financing options. The company recently launched the Build credit card that provides customers with an alternative to local payday lenders’ rates and, in the process, improves their FICO scores and builds future capacity for credit. This comes as part of the company’s ongoing commitment to financial inclusion in a market where a new rule from the Consumer Financial Protection Bureau is likely to impact access to alternative credit products.

The funding will be used for a sustained portfolio build.