US-based personal finance app developer Self Financial completed a $40m series D round yesterday that included Conductive Ventures, the venture capital firm funded by consumer electronics manufacturer Panasonic.
VC firm Meritech Capital led the round, which also featured Altos Ventures and Silverton Partners. It increased the company’s funding to $77m since it was founded as Self Lender in 2015.
Self offers what it calls a credit builder account, allowing users to apply for a loan from one of its bank partners. They pay back the loan in instalments over a period between one year and two, with each payment they make helping to strengthen their credit history.
The company raised an initial $535,000 from TechStars, Kickstart Seed Fund and Galvanize Ventures, before Silverton Partners supplied $1.5m in seed funding in 2015, later co-leading its $5m series A round with Deepspace Ventures and Accion Venture Lab two years later.
Investors including Altos Ventures, Silverton Partners and Accion Venture Lab provided $10m for Self in November 2018, before Conductive Ventures and Altos Ventures co-led a $20m series C round featuring Silverton Partners in February this year.