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February 20, 2020

Fintech start-up Self raises $20m to accelerate growth

American financial technology firm Self has raised $20m in a Series C funding round to accelerate its growth.

The funding round was co-led by Altos Ventures and Conductive Ventures.

Self intends to use the funding to hire additional team members and invest in marketing and product development to bolster its overall customer success.

Self founder and CEO James Garvey said: “We’re thrilled that with Conductive Ventures’ investment, and the continued support from Altos Ventures and our on-going investors, we can impact so many more consumers on their journey to financial wellness and stability.”

The company offers consumers a solution for building credit score. It serves over 500,000 consumers and has $400m in CD-secured loan originations.

Conductive Ventures managing director Paul Yeh said: “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.”

Conductive Ventures managing director Carey Lai added: “In every interaction, we’ve had with James and his team, we were impressed by their calibre, vision, and most importantly, their mission-driven values.

“We are very excited and looking forward to Self’s continued success.”

The company’s offerings include the Self Credit Builder Account and the recently launched Self Visa Credit Card, which does not require a credit check.

The credit allows customers to build their security deposit in instalments instead of having to make a large upfront deposit.

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