US-based fintech developer Deserve collected $17m in a series C round on Monday led by financial services firm Sallie Mae.
Accel, Aspect Ventures, Pelion Ventures, Mission Holdings, Alumni Venture Group and GDP Venture also participated in the round.
Deserve, originally known as SelfScore, has developed financial technology that uses machine learning and alternative data to offer credit cards to users without a credit history. The offering is aimed at domestic and international students at US universities, who lack a credit history by virtue of their age.
The cash will allow Deserve to scale its platform and infrastructure, including the launch of a mobile app that lets users manage their finances, build a credit score and earn rewards.
Accel previously led a $12m funding round in October 2017, with participation from Aspect Ventures, Mission Holdings and other, unnamed backers.
Deserve closed a $14.4m series A round in 2016, following a $7.1m extension led by Pelion Venture Partners and backed by Accel and Aspect. Details about the first $7.3m tranche, secured in 2015, have not been revealed.