Deserve was founded in 2013 by Kalpesh Kapadia and Michael Hallinan. The company has not publicly endorsed plans to participate in an IPO.
Deserve is a fintech company that offers digital-first credit card solutions. The company allows businesses to develop and deploy branded cards for their customers. In 2022, Financial Times and Statista recognized Deserve as one of the fastest growing fintech companies in the United States. The company has raised more than $500 million in venture capital funding from investors including Mission Holdings, Goldman Sachs, Sallie Mae, Visa, Mastercard, and Ally Bank. The company was valued at $500 million after a $50 million round of Series D fundraising in 2021.
These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Funding Date | Share Class | Amount Raised | Price per Share | Post-Money Valuation | Key Investors | |
---|---|---|---|---|---|---|
04/05/2023 | Series E | $18.38MM | $xx.xx | $240.73MM | -- | |
Price per Share
$xx.xx
Shares Outstanding
9,093,632
Liquidation Pref Order
1
Liquidation Pref As Multiplier
2.0x
Conversion Ratio
1.0x
Dividend Rate
5.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
--
|
||||||
04/05/2023 | Series E-1 | $39.38MM | $xx.xx | $240.73MM | -- | |
Price per Share
$xx.xx
Shares Outstanding
21,643,409
Liquidation Pref Order
1
Liquidation Pref As Multiplier
2.0x
Conversion Ratio
1.0x
Dividend Rate
5.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
--
|
||||||
06/24/2021 | Series DD | $41.99MM | $xx.xx | $517.17MM | Ally Ventures, Goldman Sachs, Mastercard, Mission Holdings, Sallie Mae | |
Price per Share
$xx.xx
Shares Outstanding
6,300,906
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.3x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Ally Ventures, Goldman Sachs, Mastercard, Mission Holdings, Sallie Mae
|
||||||
06/24/2021 | Series DD-1 | $8.01MM | $xx.xx | $517.17MM | Ally Ventures, Goldman Sachs, Mastercard, Mission Holdings, Sallie Mae | |
Price per Share
$xx.xx
Shares Outstanding
1,336,157
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.2x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Ally Ventures, Goldman Sachs, Mastercard, Mission Holdings, Sallie Mae
|
||||||
11/04/2019 | Series CC | $50MM | $xx.xx | $217.64MM | Accel, Aspect Ventures, Goldman Sachs, Mission Holdings, Pelion Venture Partners, Sallie Mae | |
Price per Share
$xx.xx
Shares Outstanding
15,907,350
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.1x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Accel, Aspect Ventures, Goldman Sachs, Mission Holdings, Pelion Venture Partners, Sallie Mae
|
||||||
10/24/2017 | Series BB | $19.09MM | $xx.xx | $100.19MM | Accel, Alumni Venture Group, Aspect Ventures, Gdp Venture, Mission Holdings, Pelion Ventures | |
Price per Share
$xx.xx
Shares Outstanding
9,542,990
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
5.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Accel, Alumni Venture Group, Aspect Ventures, Gdp Venture, Mission Holdings, Pelion Ventures
|
||||||
08/24/2016 | Series AA-2 | $19.82MM | $xx.xx | $55.23MM | Accel Partners, Aspect Ventures, Pelion Venture Partners | |
Price per Share
$xx.xx
Shares Outstanding
13,559,406
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
5.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Accel Partners, Aspect Ventures, Pelion Venture Partners
|
||||||
06/18/2015 | Series AA | $8.26MM | $xx.xx | $18.36MM | Undisclosed Investors | |
Price per Share
$xx.xx
Shares Outstanding
7,223,724
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
5.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
|
Last Funding Round | ||||||||
---|---|---|---|---|---|---|---|---|
Company | Forge Price | Forge Price Change 5 | Last Closed Trade | Share Class | Post-Money Valuation | Price per Share | Amount Raised | |
Cerebras | $40.08 | +0.68% | $xx.xx | Series F-1 | $2.84B | $xx.xx | $85MM | |
CoreWeave | $1,149.84 | +18.78% | $xx.xx | Series C | $19B | $xx.xx | $1.15B | |
Chime | $24.86 | +0.32% | $xx.xx | Series G | $24.93B | $xx.xx | $1.1B | |
Klarna | $370.00 | -1.33% | $xx.xx | Unknown | $6.7B | $xx.xx | -- | |
Turo | $12.96 | -4.07% | $xx.xx | Series E | $1.24B | $xx.xx | $240.52MM | |
Circle | $25.50 | +3.2% | $xx.xx | Series F | $8.05B | $xx.xx | $401MM | |
Netskope | $11.07 | +2.98% | $xx.xx | Series H | $7.5B | $xx.xx | $300MM | |
Liquid Death | $9.49 | +0.21% | $xx.xx | Series F-1 | $1.4B | $xx.xx | $67.61MM | |
Cohesity | $15.66 | -2.12% | $xx.xx | Series H-1 | $4.69B | $xx.xx | $27.5MM | |
MNTN | -- | -- | $xx.xx | Series D | $2.21B | $xx.xx | $119MM |
Updated on: Jan 23, 2025
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