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Zed secured $6m in funding to introduce pioneering “no-fee” credit card.

Mar 20, 2024over 1 year ago

Amount Raised

$6 Million

San FranciscoFinanceSoftware

Investors

Valar Ventures

Description

Zed, a credit-led neobank, raised US$6m in funding to launch the country’s first “no-fee” credit card, aimed at democratizing financial services in the Philippines.

Company Information

Company

Zed

Location

San Francisco, California, United States

About

Zed is a licensed financial institution regulated by the BSP, offering a modern credit card designed to help the next generation in Southeast Asia build wealth responsibly. With features such as no interest, no foreign transaction fees, and unlimited virtual cards, Zed reimagines how young professionals access and use credit. Built by a team of Stanford-trained engineers with backgrounds in banking, private equity, and leading technology companies, and backed by Valar and experienced fintech operators, Zed is focused on making credit more accessible, fair, and empowering, with teams based in San Francisco and Manila.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers