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Cards-as-a-service startup Deserve is moving beyond the consumer market to offer fintechs, banks and B2B businesses a white label commercial card platform for their corporate customers.
The Deserve Commercial Credit Card Platform is designed to help companies of all sizes, from banks and online lenders to fintechs and marketplace businesses, to create credit and charge cards for their business customers. With instant issuance and digital wallet provisioning, the digital application allows approved cardholders to start using their cards within minutes.
Deserve also provides enterprise-level controls for CFOs to track, manage, and understand expenses, along with a range of cashback reward programmes.
“We are extending our digital, cloud-native, mobile-first platform from consumer cards to commercial. With this, we will enable any financial institution or platform that serves other businesses to embed and issue commercial credit cards. For non-banks, this can be a significant source of revenue and can enhance brand loyalty,” says Kalpesh Kapadia, CEO and co-founder of Deserve. “Our platform will enable those who serve small and medium-size businesses and corporations to offer true credit combined with sophisticated expense management. We are thrilled to have Customers Bank as the first bank on our platform.”
In October, Deserve picked up a strategic investment from Visa as part of a project with Blockifi to launch the world’s first credit card with crypto rewards. This followed a $50 million Series D funding round in June that was co-led by Mastercard, alongside Mission Holdings and Ally Ventures.
Financial Services
