Total amount raised
$127 Million
Latest funding date
09/01/2021
Location
Self Financial has successfully raised funds over 9 rounds, with the latest being a Series E round involving investors such as Meritech Capital Partners, Conductive Ventures, and Altos Ventures. The platform offers tools to help individuals build credit, save money, and access cash through products like the Self Credit Builder Loan and Self Visa® Credit Card.
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, a private fintech company based in Austin, Texas, specializes in helping individuals build credit and save money. The company operates in the financial services, fintech, internet, and personal finance industries.
Founded with the mission to improve financial literacy and credit scores, Self Financial offers products like the Self Credit Builder Loan and Self Visa® Credit Card. The company has grown to employ between 251-500 people and has successfully raised funds through a Series E round.
How Much Funding Has Self Financial Raised?
- Seed Round
- Amount Raised: USD 535,000
- Date: March 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and launch the company.
- Seed Round
- Amount Raised: USD 1,500,000
- Date: July 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and begin scaling operations.
- 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 the team and enhance product offerings.
- Series A
- Amount Raised: USD 5,000,000
- Date: July 2017
- Lead Investors: Silverton Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and reach more customers.
- 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 the product.
- Series B
- Amount Raised: USD 10,000,000
- Date: November 2018
- Lead Investors: Altos Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To help millions of people build credit and scale the team and products to assist more customers.
- Series C
- Amount Raised: USD 20,000,000
- Date: February 2020
- Lead Investors: Altos Ventures, Conductive Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and product development.
- Series D
- Amount Raised: USD 40,000,000
- Date: December 2020
- Lead Investors: Meritech Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support continued growth and scaling.
- Series E
- Amount Raised: USD 50,000,000
- Date: September 2021
- Lead Investors: Altos Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business, particularly the Credit Builder Account, and expand services across the US to reach millions of Americans with no or low credit scores.
Total Amount Raised: USD 166,035,000. Current Valuation: Not publicly disclosed.
Key Investors
- Altos Ventures
- Details: Altos Ventures is a venture capital firm that focuses on early and growth-stage technology companies. They have been a significant supporter of Self Financial, leading the Series E funding round.
- Investment Focus Areas: Technology, software, internet companies.
- Notable Investments: Roblox, Coupang, SendBird.
- Meritech Capital Partners
- Details: Meritech Capital Partners is a late-stage venture capital firm that invests in technology companies. They participated in Self Financial's Series E funding round.
- Investment Focus Areas: Late-stage venture capital, technology, healthcare.
- Notable Investments: Facebook, Salesforce, Snowflake.
- Conductive Ventures
- Details: Conductive Ventures focuses on expansion-stage companies in the technology and consumer sectors. They were part of the Series E funding round for Self Financial.
- Investment Focus Areas: Enterprise software, hardware, consumer companies.
- Notable Investments: Ambiq Micro, CSC Generation, Desktop Metal.
- Silverton Partners
- Details: Silverton Partners is an early-stage venture capital firm that has shown long-term commitment to Self Financial, participating in the Series A-D rounds.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: SailPoint, SpareFoot, The Zebra.
What's Next for Self Financial?
Self Financial stands at the cusp of significant growth opportunities. With plans to expand their Credit Builder Account and Self Visa® Credit Card services to millions of Americans with low or no credit scores, the company is poised to make credit building more accessible. Additionally, they aim to extend their services to individuals with H-1B, L-1 work visas, and student visas, tapping into a vast and underserved market.
Given their rapid growth and the successful Series E funding round, future fundraising opportunities seem promising. The involvement of prominent investors like Altos Ventures and Meritech Capital suggests that Self Financial could attract further investments to support their expansion and product development. However, the company will need to navigate challenges such as competition from other fintech firms, regulatory hurdles, and ensuring data security as they scale their operations.
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