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Investments

4

Portfolio Exits

1

About Nelstone Ventures

Nelstone Ventures was founded by Rich Nelson for the purpose of syndicating investment opportunities, primarily in early stage technology companies. Nelstone Ventures' investment focus is consumer internet and technology enabled business-to business companies.

Nelstone Ventures Headquarter Location

New York, New York,

United States

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Latest Nelstone Ventures News

Petal Raises $55M in Series C Funding

Sep 24, 2020

Petal , a New York, NY, and Richmond, VA-based credit card company for people to build credit and spend responsibly, raised $55m in Series C funding. The round was led by Valar Ventures, with participation from Rosecliff Ventures, Afore Capital, RiverPark Ventures, Great Oaks Venture Capital, GR Capital, Nelstone Ventures, Abstract Ventures, Ride Ventures, The Gramercy Fund, Adventure Collective, Starta Ventures, and NFL star Kelvin Beachum, Jr. In total, Petal has now raised more than $100 million in equity funding. The company intends to use the funds to expand its business reach. Led by Jason Gross, CEO and co-founder, Petal is a new kind of credit card company which provides people with cash flow underwriting, as an alternative to credit scores, to make credit more accessible, and offers a digital experience that encourages members to build credit, avoid debt, and spend responsibly. Instead of using credit scores, the company has built proprietary technology that also analyzes banking history—measuring creditworthiness based on income, spending, and savings. This process, referred to as “Cash Scoring”, measures economic fundamentals that aren’t typically considered in a credit approval decision. The Petal credit card is issued by WebBank, Member FDIC. FinSMEs 24/09/2020

Nelstone Ventures Investments

4 Investments

Nelstone Ventures has made 4 investments. Their latest investment was in Petal as part of their Series C on September 9, 2020.

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Nelstone Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/24/2020

Series C

Petal

$55M

Yes

19

5/7/2019

Seed VC

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$99M

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10

4/19/2017

Seed VC - II

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$99M

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10

3/31/2016

Seed VC

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$99M

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10

Date

9/24/2020

5/7/2019

4/19/2017

3/31/2016

Round

Series C

Seed VC

Seed VC - II

Seed VC

Company

Petal

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Amount

$55M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

19

10

10

10

Nelstone Ventures Portfolio Exits

1 Portfolio Exit

Nelstone Ventures has 1 portfolio exit. Their latest portfolio exit was Dil Mil on November 25, 2019.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/25/2019

Acquired

$99M

2

Date

11/25/2019

Exit

Acquired

Companies

Valuation

$99M

Acquirer

Sources

2

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