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Friday, 11/08/2019 4:08:47 PM

Friday, November 08, 2019 4:08:47 PM

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Goldman makes a bet on credit-card startup Deserve
By: Seeking Alpha | November 5, 2019

• Goldman Sachs (NYSE:GS) is lead investor in a $50M financing round for Deserve, a firm that offers credit cards directly to nontraditional consumers with little credit history and uses machine learning and alternative data to assess their creditworthiness.

• Deserve also sells its cloud-based platform to corporations for them to offer their own branded cards.

• Originally, Deserve, which started as SelfScore in 2013, targeted international students who couldn't get traditional credit cards. then it branched out to other groups of millennials who had a difficulty in qualifying for credit cards due to a lack of credit history.

• Other companies that invested in the firms Series C round are: Sallie Mae (NASDAQ:SLM), Aspect Ventures, Pelion Venture Partners, and Mission Holdings.

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