Washington-based financial services company FS Card has secured $40 million in a corporate round, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced Oct. 22 and financed by MasterCard.
According to its Crunchbase profile, "FS Card is a credit card venture designed to move small-dollar loan customers into a more affordable product. ... At FS Card, we see an opportunity to reimagine the small dollar lending landscape and meet the needs of a customer base that has been poorly served by existing credit options."
The 6-year-old company has raised three previous funding rounds, including a $10 million round in 2017.
The round brings total funding raised by Washington companies in financial services over the past 90 days to $152 million. The local financial services industry has produced 13 funding rounds over the past year, securing a total of $316 million in venture funding.
In other local funding news, artificial intelligence and SaaS company Aurora Insight announced an $18 million Series A funding round on Oct. 22, led by Alsop Louie Partners.
According to the business's profile on Crunchbase, "We provide detailed insights on existing wireless infrastructure and RF environments, enabling organizations to make the best business decisions."
Founded in 2016, the company has raised two previous rounds, including a seed round in 2017.
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