‘Financial providers need actionable insights, not raw data’: Credit card company Petal spins off B2B data unit, Prism Data
- Petal is a fast growing credit card company that uses bank history, not traditional credit scores, to make underwriting decisions.
- The company is spinning off its technology to serve other players in the industry.

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Petal is one of those fintech companies raising lots of money that hasn’t gotten a lot of press. It’s not because the company isn’t interesting — it is doing some really cool things around consumer credit. Petal may not be getting the ink it deserves because the story revolves around financial data. Financial data is definitely valuable — it’s just not sexy. The underwriting machine is the story here and the story now becomes more complicated with news that the firm is going B2B.
Petal is a credit card company that uses cashflow information from bank account data to make underwriting decisions. More than 50 million people lack credit scores in the U.S. and by looking at banking history, the firm has found a way to provide access to credit for thin file/no file consumers.
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