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Petal company logo


Founded Year



Series D | Alive

Total Raised




Last Raised

$140M | 1 yr ago

About Petal

Petal provides credit cards to young people and others who lack a credit history. Petal's cards link to a mobile app that enables users to track expenses and affordability.

Headquarters Location

New York, New York, 10008,

United States


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Research containing Petal

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Petal in 4 CB Insights research briefs, most recently on Mar 30, 2022.

Expert Collections containing Petal

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Petal is included in 7 Expert Collections, including Banking.



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Wealth Tech

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Digital Lending

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This collection contains companies that provide alternative means for obtaining a loan for personal or business use and companies that provide software to lenders for the application, underwriting, funding or loan collection process.



2,460 items

Companies and startups in this collection enable consumers, businesses, and governments to pay each other - online and at the physical point-of-sale.


Fintech 250

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250 of the most promising private companies applying a mix of software and technology to transform the financial services industry.


Financial Wellness

245 items

Track startups and capture company information and workflow.

Petal Patents

Petal has filed 1 patent.

The 3 most popular patent topics include:

  • Mixed reality
  • 3D imaging
  • Augmented reality
patents chart

Application Date

Grant Date


Related Topics




Computer memory, IBM mainframe operating systems, Parallel computing, Database management systems, Relational database management systems


Application Date


Grant Date



Related Topics

Computer memory, IBM mainframe operating systems, Parallel computing, Database management systems, Relational database management systems



Latest Petal News

Petal 2 Visa credit card review: A good option if you don't have a credit history, with between 1.0% - 1.5% cash back and no fees

Sep 21, 2022

Redeem now Insider's experts choose the best products and services to help make smart decisions with your money ( here’s how ). In some cases, we receive a commission from our our partners , however, our opinions are our own. Terms apply to offers listed on this page. If you have a limited credit history, the Petal® 2 "Cash Back, No Fees" Visa® Credit Card, issued by WebBank, may be easier to qualify for. The card doesn't charge any fees and offers between 1.00% - 1.50% cash back on everyday purchases — but if you've already got a good credit score, you should consider a different rewards credit card with better earnings and benefits. Petal® 2 "Cash Back, No Fees" Visa® Credit Card 4/5 Review: Is the Petal 2 Visa the best credit card for you? There are plenty of great cash-back credit cards on the market, but the vast majority are only available to those with good or excellent credit . However, if you have a limited or non-existent credit history — whether you're a college student , recent immigrant, or just new to credit cards generally — there are fewer rewarding options. The Petal® 2 "Cash Back, No Fees" Visa® Credit Card is worth considering if you're new to credit or have a lower credit score . While it doesn't come with a welcome bonus or fancy benefits, it offers an opportunity to earn rewards for spending and the ability to improve your credit history with responsible use. And it's not a secured card like most cards for bad credit , so you don't have to put down a security deposit to get approved. You may also have the option to connect your banking history to your application to create a "Cash Score" which can be used to determine your creditworthiness. This is extra helpful if you don't have a credit history at all, and makes the card more accessible to those who are just getting started on their financial journey. Cardholders start off by earning 1% cash back on all eligible purchases, but that rate increases to 1.25% back after six months of on-time payments, and 1.5% back after 12 months of the same. In addition, the Petal® 2 "Cash Back, No Fees" Visa® Credit Card partners with select merchants to offer extra cash back (2%-10%) on eligible purchases. It isn't jam-packed with perks, but one benefit stands out: The Petal® 2 "Cash Back, No Fees" Visa® Credit Card doesn't charge fees — at all. There's no annual fee or foreign transaction fees, and you won't pay a late fee or returned payment fee, either. That said, if you already have a good credit score, you can likely qualify for better cards that offer welcome bonuses and perks like travel insurance or purchase protection. In addition, some starter credit cards , like the Capital One QuicksilverOne Cash Rewards Credit Card, have other appealing features and stronger earning rates, so be sure to compare your options before you decide to apply. We're focused here on the rewards and perks that come with each card. These cards won't be worth it if you're paying interest or late fees. When using a credit card, it's important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay. How to earn rewards from Petal 2 credit card The Petal® 2 "Cash Back, No Fees" Visa® Credit Card has an earning structure that rewards cardholders for responsible use. When you're first approved for the card, you'll earn 1% cash back on eligible purchases, which isn't a great rate. But if you make on-time payments for six months, you'll start earning 1.25% cash back, and once you reach 12 months of on-time payments, your rate improves to 1.5% cash back. In addition, you can earn 2% to 10% cash back at select merchants. Cash back offers are automatically loaded to your account and will appear in your Petal online account or app, and any bonus rewards you earn usually appear by your next billing cycle. One major downside: Petal's website is hard to navigate, and there doesn't appear to be a way to tell which participating merchants offer bonus cash back unless you already have the card, which makes it tricky to assess whether these deals are worth it for you. You can get an idea of what to expect by checking out Dosh , the third-party provider that runs Petal Card Offers — merchants like Walmart, Instacart, Dunkin', and Sephora are among the 10,000 brands that partner with the service. How to use rewards  Petal's app provides a convenient way to view and redeem the cash back you've earned with the Petal® 2 "Cash Back, No Fees" Visa® Credit Card. In the "Perks" section of your online account or app, you can see your current and pending cash-back balances, as well as lifetime rewards earned. You can redeem cash back for a statement credit in any amount up to your current balance through the app or online, or request an ACH transfer or check (minimum $20) by calling the number on the back of your card. Note that if your account isn't in good standing, you won't be able to redeem rewards. Petal 2 card benefits and features The Petal® 2 "Cash Back, No Fees" Visa® Credit Card is light on benefits, but a few features stand out. Petal mobile app The Petal mobile app can be a great tool for keeping track of your finances and progress in improving your credit history. Along with viewing your card account balance, payment due dates, and rewards, you can set budgets and monitor your credit score. The app also comes with a handy tracking feature that keeps an eye on any recurring subscriptions charged to your card. Petal Leap program If you're new to credit, Petal may start you off with a smaller credit limit on your new card — initially anywhere from $300 to $10,000, depending on your creditworthiness. A low limit can be frustrating if you have larger purchases you want to make, but if you use your card and manage your finances responsibly, you may qualify for a credit line increase in as little as six months. Petal's Leap program gives eligible cardholders the chance to increase their credit limit by reaching certain goals: Goal 1: Pay at least your minimum payment or at least 15% of your monthly statement balance (whichever is greater) on time for six consecutive billing cycles in which a payment is due (called a "payment streak") Goal 2: Don't let your VantageScore drop by more than 25 points for six consecutive billing cycles in which a payment is due (if you don't initially have a VantageScore, it will appear in your Leap dashboard once it's available, usually within three months of making payments on your credit card) If you accomplish both of these goals, you will be considered for a credit limit increase, although an increase is not guaranteed. A higher credit limit gives you more spending power, and can also potentially improve your credit score by increasing the total amount of credit you have available. Pre-approval without impacting your credit score Petal allows you to find out if you're pre-approved for its cards by entering your personal details on its website, and it won't hurt your credit score to do so. Most other banks make you apply outright and perform a hard inquiry (also called a credit pull) before deciding to approve you. If you don't qualify, you'll still take a (small) hit to your credit score, which is an extra letdown. Card freeze  If you misplace your Petal® 2 "Cash Back, No Fees" Visa® Credit Card, you can temporarily freeze it so it can't be used through the "Settings" page of your online account. You'll have the option to unfreeze your card if you find it, or, if you think it's permanently lost or stolen, you can call Petal at 855-697-3825 immediately after freezing it to receive a replacement. Petal® 2 "Cash Back, No Fees" Visa® Credit Card 4/5

Petal Web Traffic

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Petal Rank

Petal Frequently Asked Questions (FAQ)

  • When was Petal founded?

    Petal was founded in 2016.

  • Where is Petal's headquarters?

    Petal's headquarters is located at New York.

  • What is Petal's latest funding round?

    Petal's latest funding round is Series D.

  • How much did Petal raise?

    Petal raised a total of $703.95M.

  • Who are the investors of Petal?

    Investors of Petal include Valar Ventures, Afore Capital, RiverPark Ventures, Tarsadia Investments, Gopher Asset Management and 29 more.

  • Who are Petal's competitors?

    Competitors of Petal include Arro and 8 more.

Compare Petal to Competitors

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Qapital offers a personal finance app that encourages users to save for things they want (like a vacation, wedding, or down payment on a home) by making behavior changes to achieve results. The app allows users to set a goal and accumulate savings triggered by everyday behaviors, such as grabbing a morning coffee or ordering take-out. It employs IFTTT (If This Then That) technology, allowing users save money by using their favorite apps, such as posting a photo to Instagram or reaching a target on Fitbit.

Gimi Logo

Gimi is a savings app for children that enables them to handle money in a responsible and simple way. Gimi is meant to promote secure, instructive, and fun personal finance for kids and parents.

Albert Logo

Albert is a banking app and provider of free financial advice. Albert connects to all user accounts, provides real-life recommendations-like repaying credit card debt with a low-interest loan, getting renter's insurance, or setting up the right retirement plan-and lets users take action directly from the app. The company was founded in 2015 and is based in Culver City, California.

CARD Corporation

CARD Corporation, formerly Cardlike, creates and manages products that provide customers with easier banking through a mobile app and website. Customers are able to select their favorite card design from a portfolio of thousands of available designs.

Current Logo

Current provides collaborative banking solutions. Current’s Personal Checking gets individuals paid quicker with direct deposit up to two days early and instant gas hold credits. Teen Banking is a smart debit card and app for parents to provide better financial education and independence for their kids.

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