Petal

About The Fund

Petal operates as an innovative financial services firm focused on providing responsible credit solutions for the modern world. They specialize in offering credit card products designed to help consumers build credit without the burden of fees or the necessity of a prior credit history. Their mission revolves around making credit accessible and understandable, especially for individuals who are new to credit or have been underserved by traditional banks. Petal employs a unique approach by leveraging data analytics to assess the creditworthiness of applicants through their banking history rather than relying solely on traditional credit scores. This allows them to extend credit offers to a broader range of customers, including those with limited or no credit history. Their credit card offerings include Petal 1, which enables building credit simply with no annual membership fee, Petal 2, which offers rewards with no fees, and Petal 1 Rise designed for a straightforward credit-building experience with an annual fee. The 'Leap' program encourages responsible credit use by offering a credit line increase to customers who make qualifying on-time payments. Additional features targeted at enhancing the user's credit journey include the ability to track credit scores within the app, earn cash back at select merchants, and enjoy flexible payment options. Petal's financial products are issued by WebBank and are accompanied by modern-day conveniences such as contactless payment technology, real-time transaction notifications, and compatibility with mobile wallets. They also provide consumers with tools and resources to help them understand and improve their financial health, presenting a user-friendly platform and a suite of app features aimed at making credit management stress-free.