About Power Finance
Power Finance is a company based in Chicago (United States) founded in 2021 by Andrew Dust was acquired by Marqeta in January 2023. It operates as a FinTech, and SaaS (Software-as-a-Service). Power Finance has raised $16.1 million across 2 funding rounds from investors including Marqeta, Plug and Play Tech Center and Anthemis Group. The company has 15 employees as of December 31, 2022. Power Finance offers products and services including Credit Card Issuance Platform. Power Finance operates in a competitive market with competitors including Deserve, Power, Tallied, Deserve Cards and Affiniti, among others.
- Headquarter Chicago, United States
- Employees 15 as on 31 Dec, 2022
- Founders Andrew Dust
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
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Social
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- Legal Name Power Finance Inc.
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Products & Services of Power Finance
Power Finance offers a comprehensive portfolio of products and services, including Credit Card Issuance Platform. 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.
A platform for launching white-labeled credit cards.
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Funding Insights of Power Finance
Power Finance has successfully raised a total of $16.1M across 2 strategic funding rounds. The most recent funding activity was a Seed round of $16.1 million completed in September 2022. 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 Seed — $16.1M
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First Round
First Round
(14 Sep 2022)
- Investors Count 8
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Sep, 2022 | Amount | Debt – Conventional - Power Finance | Valuation |
investors |
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| Sep, 2022 | Amount | Seed - Power Finance | Valuation | Amy Nauiokas , Logan Allin |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| 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 |
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Investors in Power Finance
Power Finance has secured backing from 9 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Marqeta, Plug and Play Tech Center and Anthemis Group. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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CRV is recognized as a venture capital firm investing in technology startups.
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Founded Year | Domain | Location | |
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Early-stage financial services startups are invested in and incubated.
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Founded Year | Domain | Location | |
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Dash Fund is focused on backing FinTech startups.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Power Finance
| 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 - Power Finance
| 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 |
Power Finance Comparisons
Competitors of Power Finance
Power Finance 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 Deserve, Power, Tallied, Deserve Cards and Affiniti, 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 |
Credit builder cards for consumers
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| domain | founded_year | HQ Location |
Clinical trials and treatments are found via an online platform.
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| domain | founded_year | HQ Location |
Platform to build consumer and corporate credit card programs
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| domain | founded_year | HQ Location |
API-based credit-card-as-a-service solutions are provided with risk and fraud tools.
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| domain | founded_year | HQ Location |
Industry-specific credit cards for small businesses are provided.
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| domain | founded_year | HQ Location |
Provides an API-driven white-label credit card solution for clients.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| 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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Latest news on Power Finance
Frequently Asked Questions about Power Finance
When was Power Finance founded?
Power Finance was founded in 2021 and raised its 1st funding round 1 year after it was founded.
Where is Power Finance located?
Power Finance is headquartered in Chicago, United States. It is registered at Chicago, Illinois, United States.
Is Power Finance a funded company?
Power Finance is a funded company, having raised a total of $16.1M across 2 funding rounds to date. The company's 1st funding round was a Debt – Conventional of $300M, raised on Sep 14, 2022.
How many employees does Power Finance have?
As of Dec 31, 2022, the latest employee count at Power Finance is 15.
What does Power Finance do?
Credit card programs are launched and scaled using a cloud-native issuance platform by Power Finance. White-labeled solutions are offered to companies for quick deployment within weeks. Customer engagement is enhanced through customizable rewards and mobile SDK integration. In-depth reporting and data insights are provided via an intuitive dashboard. The focus is placed on financial technology solutions for modern credit card needs.
Who are the top competitors of Power Finance?
What products or services does Power Finance offer?
Power Finance offers Credit Card Issuance Platform.
Who are Power Finance's investors?
Power Finance has 9 investors. Key investors include Marqeta, Plug and Play Tech Center, Anthemis Group, CRV, and Financial Venture Studio.
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