About Petal
Petal is a Financial Services company based in West Sacramento (United States) founded in 2016 by Jason Gross, and was acquired by Empower in April 2024. Credit cards are issued to consumers via alternative credit evaluation. It operates on a Commission-Based model. Petal has raised $298.43 million across 14 funding rounds from investors including Synchrony, Wise and Tilt. Petal was last valued at $800 million in January 2022. Its chief executive, as recorded, is Jason Gross. Its website petalcard.com draws about 402 thousand monthly visits. Petal offers products and services including Petal 1, Petal 2, and Petal 1 Rise. Its focus areas include Credit Cards and Consumer Credit. Its legal entity is Tilt Card, Inc. Its competitors include Upgrade, Affirm and Possible Finance; 3 of its 3 listed competitors have raised funding.
Company details
Credit solutions are provided by Petal to assist individuals in building credit history. Various card options like Petal 1, Petal 2, and Petal 1 Rise are made available, targeting different consumer needs with features such as cash back and no fees. The financial sector is primarily served, focusing on consumer credit through innovative application processes that include bank data linkage for better approval odds.
Products & Services of Petal
Petal offers a comprehensive portfolio of products and services, including Petal 1, Petal 2, and Petal 1 Rise.
Credit card designed to build credit history effectively.
Credit card offering rewards with no fees included.
Credit card focused on simple credit building process.
Apps and channels of Petal
Petal publishes 2 mobile apps with over 100K+ downloads.
Funding Insights of Petal
Petal has successfully raised a total of $298.43M across 14 strategic funding rounds. The most recent funding activity was a Series D round of $20 million completed in August 2023. 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 $298.43M
- Total Rounds 14
- Last Round Series D — $20M
- First Round $1.58M
(Dec 2016)
- Investors Count 50
Latest 10 of 14 funding rounds of Petal with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug 2023 | $220M | Debt – Conventional | – | – | |
| Aug 2023 | $20M | Series D | – | Trinity Capital, Private Ventures Group | – |
| May 2023 | $35M | Series D | – | Valar Ventures | |
| Jan 2022 | $140M | Series D | $800M | Tarsadia | |
| Feb 2021 | $126.6M | Debt – Venture | – | – | |
| Sep 2020 | $55M | Series C | – | Valar Ventures | |
| Sep 2019 | $300M | Debt – Conventional | – | – | |
| Jan 2019 | $30M | Series B | – | Valar Ventures | |
| Oct 2018 | $34M | Debt – Conventional | – | – | |
| Jan 2018 | $13M | Series A | – | Valar Ventures |
| Date | Valuation | Stage |
|---|---|---|
| Jan 2022 | $800M | •••••••• |
Last known valuation $800M (Jan 2022). 51 investors in total: 43 institutional and 8 angel.
Investors in Petal
Petal has secured backing from 51 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Synchrony, Wise and Tilt.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Blank check and private debt firm focused on multiple sectors | 2007 | victoryparkcapital.com | Chicago, United States | |
Venture debt and equipment financing are provided to growth-stage companies. | 2008 | trinitycap.com | Phoenix, United States | |
| privateventuresgroup.com | ||||
Global investments in tech sectors are conducted by Valar Ventures. | valar.com | New York, United States | ||
Tech focused early stage VC firm investing in the US & Africa | storyventures.vc | New York, United States | ||
Venture capital investments in fintech and technology for wealth and health. | corevc.com | |||
Venture capital firm backed by RiverPark Funds group | riverparkvc.com | New York, United States | ||
Venture capital fund investing in early-stage tech startups | samsungnext.com | Berlin, Germany | ||
Venture capital investing with a focus on diversity and inclusion in the ecosystem. | gaingels.com | |||
Seed-stage tech investments in US companies are funded. | afore.vc | San Francisco, United States |
Investor details for Petal
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
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Verified entity values are shown only after access is granted.
People of Petal
8 people are tracked at Petal (5 in leadership, 3 in team).
| Name | Role | Group |
|---|---|---|
Jason Gross | Co-Founder & CEO | Leadership |
Andrew Endicott | Co-Founder, President & CFO | Leadership |
Elaine Lai | Head Of Product / Senior Director | Leadership |
Ronald Gregory | Senior Vice President Operations | Leadership |
Eléonore Yildizhan | Senior Director Head Of Analytics | Leadership |
Mahmood Hamsho | Senior Data Scientist | Team |
Soumya Subash | Analytics Manager | Team |
Nirmal Kagolanu | Senior Product Manager | Team |
Complete people profiles for Petal
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
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Timeline of Petal
5 dated milestones of Petal across 8 years, from founding to its latest funding, stage changes and deals.
- Founded Petal is founded.
- Funding First funding round of $1.6M.
- Milestone Reaches Soonicorn status.
- Funding Latest funding round, Series D, of $20.0M.
- Exit Acquired by Empower.
Competitors of Petal
Petal has 3 listed competitors in our database, 3 of them funded. They include Upgrade, Affirm and Possible Finance.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| upgrade.com | 2016 | San Francisco, United States | $750M | 1,221 | Consumer credit and banking products are offered to individuals. | |
| affirm.com | 2012 | San Francisco, United States | $1.23B | 2,171 | Point-of-sale financing is facilitated via an online installment payment platform. | |
| possiblefinance.com | 2017 | Seattle, United States | $49.56M | Multiple consumer loans are offered through an online platform. |
Detailed competitors of Petal
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Petal
The website of Petal (petalcard.com) receives about 401.9K visits a month and ranks #107,478 among all websites worldwide, #6,774 in Banking Credit and Lending.
- Monthly visits401.9K
▼ 4% vs previous month
- Unique visitors197.1K
per month
- Global rank#107,478
among all websites
- Category rank#6,774
Finance · Banking Credit and Lending
- Bounce rate33%
- Pages per visit3.2
- Average visit2 min 19 sec
- DevicesDesktop 32% · Mobile 68%
Websites whose visitors overlap most with Petal. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| creditonebank.com | 100% | 11.7M | #3,362 | View details | |
| americanexpress.com | 94% | 107.4M | #276 | View details | |
| bankofamerica.com | 93% | 113.9M | #258 | View details | |
| ally.com | 93% | 14.8M | #3,147 | View details | |
| synchrony.com | 92% | 41.4M | #874 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 40 similar websites and full traffic analytics for Petal
The complete similar-websites list, audience overlap and engagement analytics require an active premium plan.
- 40 similar websites
- Audience overlap
- Engagement analytics
- Traffic by brand
Verified entity values are shown only after access is granted.
Top companies in Payments & Remittance Platforms
3 companies that operate in the same segment as Petal (Payments & Remittance Platforms) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Payment processing and card issuance solutions are provided for businesses. | 2009 | San Francisco, California, United States | USD 9.81 B | 16,622 | ||
Cloud-based accounts payable and receivable software for businesses | 2006 | Palo Alto, California, United States | USD 325.6 M | USD 1.65 B | 3,108 | |
Spend management and accounts payable solutions are delivered to businesses. | 2019 | New York, New York, United States | USD 5.07 B | 6,209 |
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Related news about Petal
Complete news archive for Petal
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Frequently Asked Questions about Petal
Petal was founded in 2016.
Petal is headquartered in West Sacramento, United States. It is registered at West Sacramento, California, United States.
Jason Gross is the CEO of Petal, as recorded in our data. They have also founded this company.
Petal is a funded company, having raised a total of $298.43M across 14 funding rounds to date. The company's 1st funding round was a Series A of $13M, raised on Dec 2016.
Credit solutions are provided by Petal to assist individuals in building credit history. Various card options like Petal 1, Petal 2, and Petal 1 Rise are made available, targeting different consumer needs with features such as cash back and no fees. The financial sector is primarily served, focusing on consumer credit through innovative application processes that include bank data linkage for better approval odds.
Petal's top competitors include Upgrade, Affirm and Possible Finance.
Petal offers Petal 1, Petal 2, and Petal 1 Rise.
The valuation of Petal is $800M as of Jan 2022.
Petal operates through Tilt Card, Inc..
Yes. Petal was acquired by Empower in April 2024.
Yes. Petal publishes Petal and 1 more app, with over 100,000 downloads.