American City Business Journals
Visa invests in Bay Area fintech Deserve that can quickly issue digital credit cards in minutes
San Francisco-based Visa invested an undisclosed sum in Deserve to expand the Palo Alto fintech’s credit-card-as-a-service that allows financial institutions, fintechs and others to issue digital cards within minutes. Founded in 2013, Deserve’s investor base also includes Mastercard (NYSE: MA), Accel, Sallie Mae (NASDAQ: SLM), Goldman Sachs Asset Management (NYSE: GS), Mission Holdings and Ally Financial (NYSE: ALLY). “We’re transforming credit cards into software that lives on mobile devices not in wallets,” said Kalpesh Kapadia, Deserve’s co-founder and CEO.
