Self raises $50M Series E to continue making credit accessible for the 100+ million underserved Americans

We’re humbled to share the news of our portfolio company Self Financial’s $50M Series E round led by Altos Ventures. To date, Self has raised $127 million.

In 2018, we backed Self, an Austin-based fintech, that helps consumers ​​build credit and savings, regardless of their past credit history. A staggering 100+ million Americans have no credit or low credit scores. Historically, consumers with low or no credit aren’t granted access to mainstream financial products. A good credit score can make a difference when renting an apartment, obtaining a mortgage, buying a car, and many other needs.

When we did a deep dive into this problem back in 2018, we set out to find a company and team building a solution. Credit Karma was on the rise, and other FinTech companies started to catch fire. With research, we discovered that millions of Americans were clamoring for ways to bank without fees, pay down their debts, improve their credit score, and access credit in a smart way.

When we met Self founder & CEO James Garvey, we were immediately impressed with his commitment to his customer and mission. Self’s Credit Builder Account enables customers to responsibly build credit while saving money. It was one of the first tech-enabled platforms to help Americans simultaneously build credit history and savings.

We have been honored to support the team since investing back in 2018, and we are proud to see their continued success. With over two million customers to date, Self is making credit accessible and empowering individuals to become financially resilient.

“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 to support our customers,” says Garvey.

We’re excited that new, alternative ways to unlock access to financial services without credit are on the rise across both the US and Emerging Markets, and a number of our portfolio companies are setting out to solve similar problems. For example, EasyKnock, a company we backed in 2018 helps homeowners convert the equity in their homes into cash without moving.

In LATAM, Dinie is the most flexible way for SMB entrepreneurs to finance their business, allowing small businesses to rotate working capital. Meanwhile in Asia, Kini is unlocking access to financial freedom by empowering employees via their earned wage-access (EWA) product for midsize to enterprise employers whose employees’ needs are not met through the traditional monthly pay cycles.

If you’re building a company that provides alternative ways to unlock access to cash and build your credit, let’s talk. Reach out to ryan@k50ventures.com.