Tuesday, July 7, 2020

Grow Credit Adds New Investor

Santa Monica-based Grow Credit, a fintech startup which provides small dollar loans and helps consumers establish their credit record through paying for online subscriptions, says it has added a new investor, Commerce Ventures. According to Grow Credit, Commerce Ventures will join its seed funding round alongside lead investor Mucker Capital, as well as Minal Hasan, founder of K2 Global Ventures. Size of the investment was not announced. According to Grow Credit, Hasn also has taken on an advisory position at the company. In addition to the new seed investors, Grow Credit said that MRV Banks, a fast growing bank in Missouri, has joined as its latest bank partner; Grow said that MRV will support a variety of financially inclusive products nationwide for Grow including its Build Membership. Grow Credit's service lets consumers establish or re-establish their credit by paying for subscriptions to such services as Netflix, Spotify, or Disney Plus.