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A Peter Thiel-backed credit card company that caters to people with little to no credit just raised $30 million

January 29, 2019

Peter Thiel has doubled down on his investment in a credit card company geared towards people that might typically be turned down by traditional banks.

Petal raised $30 million in its Series B funding, which was led by Thiel's New York-based venture capital fund, Valar Ventures. Petal declined to disclose its valuation, but Business Insider understands the latest round increased the company's value.

The startup, which launched its first credit card last October, caters to people with little or no credit history.

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