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Celebration our 20th Year

FT Partners Advises Deserve on its $50,000,000 Series D Financing

Overview of Transaction

  • On June 24, 2021, Deserve announced it has raised $50 million in financing led by Mission Holdings, Mastercard (NYSE: MA), and Ally Ventures, with participation from Goldman Sachs, Sallie Mae, and other existing investors
  • Deserve is powering the future of FinTech through digital-first, mobile-centric, highly configurable API and SDK based credit card solutions
  • Deserve partners with financial institutions, FinTechs, modern consumer brands, universities and associations to develop, deploy, and power white label and co-branded credit card programs
  • Deserve’s modern platform also provides partners the capability to offer an embedded and seamless credit card experience to customers and members

Significance of Transaction

  • Deserve is the first credit card-as-a-service platform to leverage Mastercard’s Digital First Program for instant issuance/provisioning for credit
  • With the new funding, Deserve will be able to accelerate its mission to modernize the credit card stack, and enable the industry to launch and scale credit card programs quickly via modern APIs

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to Deserve
  • FT Partners previously advised Deserve on its $50 million financing led by Goldman Sachs in 2019 and its $17 million financing led by Sallie Mae in 2018
  • This transaction underscores FT Partners' deep Banking Tech domain expertise and its successful track record generating highly favorable outcomes for high growth FinTech companies globally