Self (formerly Self Lender), a U.S.-based fintech startup offering people a way to build their credit while also saving money, announced on Wednesday it raised $20 million through its Series C funding round, which was co-led by Altos Ventures & Conductive Ventures. Founded in 2015, Self describes itself as a venture-backed fintech startup with a mission to help people build credit, particularly those who are new to credit or who might not have access to traditional financial products.
“With more than 500,000 consumers and $400 million in CD-secured loan originations, the company has achieved unparalleled growth in the past year by offering a way for consumers to build credit through the Self Credit Builder Account and the recently launched Self Visa Credit Card, the first-of-its-kind secured credit card that does not require a credit check and enables customers to build their security deposit in installments rather than having to make a large upfront deposit. That’s important in an environment where 41% of Americans can’t cover an emergency medical expense.“
Speaking about the investment, James Garvey, Founder and CEO at Self, stated:
“Our goal from the beginning was to create a mission-driven company that gives the power back to consumers and helps them achieve their financial goals. We’re thrilled that with Conductive Ventures’ investment, and the continued support from Altos Ventures, Silverton Partners, and our other ongoing investors, we can impact so many more consumers on their journey to financial wellness and stability.”
Paul Yeh, Founding Member & Managing Director of Conductive Ventures, added
“Self inspires us with their dedication to helping consumers take control of their financial future. Today, it’s imperative to be aligned with partners with a shared vision that is meaningful and delivers change for the greater good.”