US-based Jasper Card has raised $34m in a Series A funding round, which was led by Benslie International Fund.
Other investors such as 500 Startups, Gauss Ventures, Off The Grid Ventures, OurCrowd, and SIBF also participated in the round.
Go deeper with GlobalData
The firm noted that the round includes $10m in funds from CreditStacks, which was previously announced along with its rebrand last year.
Concurrently, WebBank has agreed to offer $100m in receivables financing.
Jasper Card will use the funding to accelerate the Jasper Card Program, grow AI technology, develop an underwriting model, and update the financial services portfolio.
Jasper Card noted that it has given access to more than 15,000 credit cards, which have been used to spend over $90m and its Jasper Card program has recorded a growth of 20% month-over-month.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataWebBank issues Jasper Cards and they run on the Mastercard network.
Jasper Card aims to aid professionals entering the US without any credit score to have a solid financial base.
It leverages an algorithm-driven underwriting platform to give customer’s predicted future credit behaviour rather than relying on their credit history.
Jasper Card founder and CEO Elnor Rozenrot said: “Imagine all your financial products, whether it’s credit cards, bank accounts, or loans, combined into one single service that just works for your benefit.
“That is exactly what we’ve set out to do, and we are on track to give our customers back most of what many financial institutions have taken for themselves.”
Mark Goines, vice-chair of Personal Capital will join the Jasper Card’s board of directors.
