Total amount raised
$127 Millions
Latest funding date
09/01/2021
Location
Self Financial has successfully raised significant funding through multiple rounds, including a recent Series E. The company offers a range of financial products designed to help individuals build their credit and savings.
Keep reading to explore the intricacies of Self Financial's fundraising journey and the investors backing this innovative platform.
What Is Self Financial?
Self Financial, founded in 2015 by Conor Swanson and James Garvey, is a fintech company based in Austin, Texas. The company aims to help individuals build their credit and savings through innovative financial products. With a team of 251-500 employees, Self Financial offers services like the Self Credit Builder Account and the Self Visa® Secured Credit Card.
How Much Funding Has Self Financial Raised?
- Seed Round
- Amount Raised: $535K
- Date: March 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company and develop initial products.
- Seed Round
- Amount Raised: $1.5M
- Date: July 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and launch the company's initial offerings.
- Series A
- Amount Raised: Not publicly disclosed
- Date: September 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product development and market reach.
- Series A
- Amount Raised: $5M
- Date: July 2017
- Lead Investors: Silverton Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Series A
- Amount Raised: Not publicly disclosed
- Date: April 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling and improving product features.
- Series B
- Amount Raised: $10M
- Date: November 2018
- Lead Investors: Altos Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance product capabilities.
- Series C
- Amount Raised: $20M
- Date: February 2020
- Lead Investors: Altos Ventures, Conductive Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enter new markets.
- Series D
- Amount Raised: $40M
- Date: December 2020
- Lead Investors: Meritech Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and scaling efforts.
- Series E
- Amount Raised: $50M
- Date: September 2021
- Lead Investors: Altos Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and make credit building accessible to more Americans.
Total Amount Raised: $127M. Current Valuation: Not publicly disclosed.
Key Investors
- Altos Ventures
- Details: Altos Ventures is a venture capital firm that led the Series E funding round for Self Financial. The firm typically invests in early and growth-stage technology companies.
- Investment Focus Areas: Technology, early-stage, growth-stage
- Notable Investments: Roblox, Coupang, SendBird
- Meritech Capital Partners
- Details: Meritech Capital Partners is a venture capital firm that participated in the Series E funding round for Self Financial. The firm focuses on providing late-stage venture capital to technology companies.
- Investment Focus Areas: Late-stage technology, private companies
- Notable Investments: Facebook, Salesforce, Snowflake
- Conductive Ventures
- Details: Conductive Ventures is a venture capital firm that participated in the Series E funding round for Self Financial. The firm focuses on expansion-stage companies in the technology sector.
- Investment Focus Areas: Expansion-stage technology, consumer sectors
- Notable Investments: Ambiq Micro, CSC Generation, Desktop Metal
- Silverton Partners
- Details: Silverton Partners is a venture capital firm that participated in Self Financial’s Series A-D funding rounds. The firm focuses on early-stage companies in technology and consumer sectors.
- Investment Focus Areas: Early-stage technology, consumer sectors
- Notable Investments: SailPoint, SpareFoot, The Zebra
What's Next for Self Financial?
Self Financial stands at the cusp of significant growth opportunities. With a mission to make credit building accessible to over 100 million Americans with no or low credit scores, the company is poised to expand its services to a broader customer base, including visa holders. The recent $50 million Series E funding round underscores investor confidence and provides the capital needed to scale operations and enhance product offerings.
Future fundraising opportunities appear promising as Self Financial continues to grow. The company’s track record of successful funding rounds and rapid customer base expansion suggests that additional investment rounds could be on the horizon. This financial backing will be crucial as Self Financial aims to enter new markets, such as insurance, and develop new products to help consumers access credit.
However, challenges lie ahead. The competitive landscape of fintech companies offering similar credit-building solutions, regulatory hurdles, and the need to maintain high standards in customer service and data security are significant obstacles. Navigating these challenges will be essential for Self Financial to sustain its growth and achieve its ambitious goals.
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