Self Financial closes its third funding round in 18 months

Self Financial, which helps consumers build credit and savings, has netted $50m in its Series E funding round

Altos Ventures acted as the lead investor, with commitments also coming from Meritech Capital and Conductive Ventures.

The capital will be used to help Self Financial scale its operations and make credit more available to the millions of Americans with no credit or low scores.

This investment marks Self Financial’s third fundraise since February 2020, when it raised $20m. Its other funding round in this period was a $40m Series D in December 2020.

The FinTech company has raised a total of $127m in funding, to date.

Self’s flagship product is the Credit Builder Account, which helps customers build credit and savings without needing an inquiry. The company also offers the Self Visa Credit Card, which gives customers the ability to extend their credit building journey, without needing a hard credit check. Slef has over two million customers.

The company has more than doubled its active customer based over the past 12 months.

Since the start of the year, the company has hired 120 employees, bringing its team count to nearly 200. It expanded its team beyond Austin and now has remote staff working from 17 states.

Self founder and CEO James Garvey said, “We believe everyone should have the opportunity to improve their financial future. That belief shapes everything we do, so looking ahead, we will continue to invest in the business and improve on our products to offer industry-leading solutions that support consumers, particularly those who are new to credit or building their credit.”

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