The company is planning to raise an estimated $42.3 million of Series C venture funding from undisclosed investors as of October 11, 2017, putting the company's pre-money valuation at $497.5 million. Previously, the company received an undisclosed amount of financing from PayPal (NASDAQ: PYPL) on June 28, 2017. Earlier, the company raised $47.5 million of Series C venture funding in a deal led by Y Combinator in July 2016, putting the company's pre-money valuation at an estimated $450 million. AFSquare, GV, Thomvest Ventures, QED Investors, Data Collective, Susa Ventures, Radicle Impact, Bronze Investments, SV Angel and other undisclosed individual investors also participated in this round. The funding will be used by the company to roll out a credit card for subprime borrowers.
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