About First Progress
First Progress is a company based in North Wales (United States) founded in 2001.. First Progress has raised $9.6 million across 2 funding rounds. The company has 8 employees as of December 31, 2019. First Progress offers products and services including Secured Mastercard and Mobile App. First Progress operates in a competitive market with competitors including Mercury Cards, Buy Way, Trigg, CALCARD and Guama, among others.
- Headquarter North Wales, United States
- Employees 8 as on 31 Dec, 2019
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
*********
- Legal Name First Equity Card Corporation
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$9.6 M (USD)
in 2 rounds
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Latest Funding Round
$6.71 M (USD), Series A
Jan 01, 2004
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Investors
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Employee Count
8
as on Dec 31, 2019
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Products & Services of First Progress
First Progress offers a comprehensive portfolio of products and services, including Secured Mastercard and Mobile App. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Secured card for building credit with rewards and bureau reporting.
App for checking balances and managing credit card accounts.
Funding Insights of First Progress
First Progress has successfully raised a total of $9.6M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $6.71 million completed in January 2004. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series A — $6.7M
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First Round
First Round
(01 Dec 2002)
- Investors Count Investors Count
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan, 2004 | Amount | Series A - First Progress | Valuation |
investors |
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| Dec, 2002 | Amount | Series A - First Progress | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investments & Acquisitions by First Progress
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - First Progress
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
First Progress Comparisons
Competitors of First Progress
First Progress operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Mercury Cards, Buy Way, Trigg, CALCARD and Guama, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Provides credit card solutions tailored for individual consumers.
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| domain | founded_year | HQ Location |
Point-of-sale financing solutions, including credit and loans, are provided.
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| domain | founded_year | HQ Location |
Offers a mobile-linked digital credit card for convenient financial transactions.
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| domain | founded_year | HQ Location |
Delivers a versatile platform for secure credit card payment processing.
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| domain | founded_year | HQ Location |
Credit cards are provided to those without credit history.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about First Progress
When was First Progress founded?
First Progress was founded in 2001 and raised its 1st funding round 1 year after it was founded.
Where is First Progress located?
First Progress is headquartered in North Wales, United States. It is registered at North Wales, Pennsylvania, United States.
Is First Progress a funded company?
First Progress is a funded company, having raised a total of $9.6M across 2 funding rounds to date. The company's 1st funding round was a Series A of $2.89M, raised on Dec 01, 2002.
How many employees does First Progress have?
As of Dec 31, 2019, the latest employee count at First Progress is 8.
What does First Progress do?
First Progress (a First Equity Corp entity) provides secured loans to those with poorno credit history to establishimprove their credit history. Loans are provided in the form of secured credit cards. First Progress provides MasterCard credit cards (issued by Synovus Bank, Columbus, Georgia) with a credit line based on a refundable security deposit instead of credit score. The card reports to all three major credit bureaus every month. First Progress secured cards are available to residents of all U.S. states except Arkansas, Iowa, New York, or Wisconsin. As on date, three variants of cards are on offer, with premium one having 11.99 Variable APR for Purchases, 44 Annual Fee, 18.99 Variable APR for Cash Advances and additional cash advance transaction fees.
Who are the top competitors of First Progress?
What products or services does First Progress offer?
First Progress offers Secured Mastercard and Mobile App.