Firstcard, a fintech startup based in Palo Alto, California, has raised $4.7 million in seed funding. The round, which brings the total amount raised to $7.7 million, was led by VCs and angels such as AngelList Early Stage Quant Fund.
The company will use the funds to double down on its student-first approach and scale its tech infrastructure and marketing efforts on college campuses. Firstcard provides college students with a variety of financial solutions, including a bank account, tools to build credit, earn cash back, and grow savings with friends.
The company's Credit Builder Card is a unique product that allows students to get a credit card and start building credit without worrying about their credit history, overspending, or application rejection. Firstcard also offers a cash back program that lets students earn up to 15% cash back at selected merchants. In the future, the company plans to launch Firstcard Plus, a $3 monthly subscription plan that will offer students up to 4.25% APY on their savings. Firstcard is led by a team of experienced entrepreneurs, including CEO Kenji Niwa, CTO Daniel Junqueira, and CMO Ma Qing. The company is committed to providing college students with the financial tools they need to succeed.
