Fintech Company Credit Sesame Raises $51 Million

Credit Sesame, the US-based financial technology firm, recently announced that it has raised $51 million in the latest Funding Round Funding Round Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Read this Term to expand the company’s financial wellness platform.

According to the press release, several prominent names including Menlo Ventures, ATW Partners, Globespan Capital, IA Capital Group and Inventus Capital participated in the recent round. Credit Sesame mentioned that the company has crossed the mark of 1 million Sesame cash debit account customers in less than 12 months of the beta launch.

In terms of growth, Sesame’s premium subscription services posted a jump of nearly 200% in less than a year. Also, Credit Sesame recently completed the acquisition of Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term software services platform Zingo.

Commenting on the latest announcement, Adrian Nazari, CEO of Credit Sesame, said: “Creating access to better credit and finance is critical for financial prosperity for consumers in our country, and it's enlightening to see major banks and the federal government also taking action. The impacts of the past year have only made those needs greater, and through our recent acquisition and fundraising, we are proud to be expanding our platform offerings and leading the charge in opening more doors to financial inclusion and wellness for all."

Earlier this week, Synctera, the US-based fintech startup, raised $33 million from different investors including Lightspeed Venture Partners and Diagram Ventures to connect fintech firms with banks.

Demand

During the latest announcement, Credit Sesame highlighted a growing demand for financial services around the world. Additionally, the company announced a plan to launch new features to facilitate consumers in their credit profiles. "Credit Sesame is giving consumers the latest financial tools and helping them to improve their financial health. This investment in the fast-growing Credit Sesame was an attractive opportunity to help grow the HOOPP fund for the benefit of our members, so we are pleased to contribute to Credit Sesame's next phase of growth as it continues to expand," Shrirang Apte, VP Credit at HOOPP commented.