Fizz Announces $14.4 Million Seed Round
Fizz logo and app

Fizz Announces $14.4 Million Seed Round

A credit-building debit card FinTech has raised a new early-stage round of funding.

About the round:

Fizz has revealed that it raised $14.4 million. The seed round was led by Kleiner Perkins, while V Angel, Y-Combinator, New Era Ventures, and others also participated. Previously, Fizz raised a $125,000 pre-seed round in 2021.

With the new capital, Fizz plans to build its team and create new product lines. Additionally, it intends to invest in marketing in order to build awareness.

About Fizz:

Taking its name from the mission “financial independence for Gen Z,” Fizz offers a debit card product that builds credit and is aimed at students. Using proactive AI budgeting tools, the platform allows customers to avoid debt while also building a positive payment history. Additionally, the app features gamified financial literacy courses to further help students learn to manage their money.

Applying for Fizz does not require a credit check, cosigner, or security deposit. Instead, customers are just required to provide their information and link a bank account with at least $150. Then, cardholders will be issued an unsecured line of credit and the company will make monthly payment reports to credit bureaus.

According to the company, in the past 12 months, Fizz grew to reach more than 300 colleges (from 0). They are also on track to surpass a nine-figure annual card volume total.

What they’re saying:

In a press release, Fizz co-founder and CEO Carlo Köbe discussed the need for their product, saying, “The concept of credit can be so daunting and inaccessible for younger people that they delay building credit history until it’s too late. Traditional cards are hard to get approved for, and even if you do, high-interest debt can trap students for decades.”

Meanwhile, president and co-founder Scott Smith stated, “Our card and app provide a clear path for younger generations to build credit early, so they’re not caught off guard when they need it most—for renting apartments, refinancing student loans, or passing background checks for their first real jobs.”

My thoughts:

While Fizz may not be the first credit-building debit card on the market, it sounds like a winner overall. Looking at their site, it seems as though they also have a strong angle by working with campus vendors to offer rewards on debit card purchases. Also notable (in light of recent events) is that the company partners directly with Lead Bank.

Given those factors, I can see why Fizz has attracted investor investment. Personally, as a fan of these types of products, I’m also rooting for it going forward.


Kyle Burbank

Head Writer ~ Fioney
Kyle is the head writer for Fioney. He is a personal finance nerd, constantly looking for new apps and services to test and incorporate into his own financial game plan. In addition to his role at Fioney, he's written for other publications including Born2Invest, Lifehack, and Laughing Place, as well as his own site Money@30. He also creates personal finance and travel-related videos for Fioney's YouTube channel, which has garnered more than 2 million views. Currently, Kyle resides in Springfield, Missouri with his wife of 10 years. Together, they enjoy traveling (including visiting Disney Parks around the world), dining, and playing with their dog Rigby.

Other Articles by Kyle Burbank

"The Unbanking of America" Book Review

In her new book " The Unbanking of America: How the New Middle Class Survives" author Lisa Servon looks at everything from the payday loan industry to FinTech while also discussing the changing economics of the middle class.
Charlie and SpeedBump logos

Charlie Introduces SpeedBump Fraud Protection Feature

A FinTech that helps prevent adults from falling victim to scams and fraud is adding a new feature to further that cause. About SpeedBump: Today, Charlie announced the launch of its SpeedBump feature. This tool combines alerts, pauses, and real-time education to help protect older adults who may be vulnerable to scams and fraud. SpeedBump may be activated when Charlie customers take certain actions, such as adding a payee, making...
AMEX card in the middle of a restaurant table full of food

American Express to Acquire Tock from Squarespace

American Express is expanding its dining platform with not one but two acquisitions. About the acquisitions: Today, Amex announced that it will be acquiring the restaurant reservation service Tock from Squarespace (who purchased the company in 2021). The purchase is expected to be for $400 million in cash but is subject to closing conditions, customary adjustments, and regulatory approval. Amex also notes that, as part of the deal with Squarespace,...
The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get the Latest News Delivered to Your Inbox

A Guide to Building Credit and Increasing Your Credit Scores

When it comes to credit, there’s some good news. The average credit score in the United States has been steadily rising in recent years, coming in at 715 in 2023. That may be because, today, consumers not only have more ways to access their credit reports and scores than ever before but also because there are an increasing number of options that Americans have for building credit in the first...

2024 SoFi Checking and Savings Review

Ever since I started taking an interest in the FinTech sector, one company whose name I’ve seen pop up over and over again is SoFi. Lately it seems as though that theme has been sent into overdrive as the company has not only become a household name thanks to its stadium naming rights deal but also because of the company’s continued product expansions. The most interesting development in my mind...
Brim logo

Brim Financial Raises $85 Million as It Eyes Global Expansion

Toronto-based FinTech infrastructure startup Brim Financial has announced a new funding round. About the round: Brim has revealed an $85 million round. The Series C was led by EDC Investments while new investor Vistara Growth and returning investors White Owl Group, Epic Ventures, and Zions Bank also participated. To date, the company has now raised $110 million including a Series B in 2021. According to Brim, the latest funding will...
Chase Freedom Flex card

Chase Reveals Q2 2024 Freedom 5%(+) Bonus Categories

Chase has announced its bonus category picks for the second quarter of 2024 — including some interesting twists. About the categories: As April approaches, Chase has revealed what categories Freedom and Freedom Flex cardholders can earn bonuses on. From April 1st through June 30th, customers can earn 5% (or more) in three categories:, Hotels, and Restaurants. Similar to how Chase embraced a "New Year, New Me" theme last quarter,...
Rent Day

Bilt Announces Home Collection Deal for May 2024 Rent Day

For May's Rent Day, Bilt is offering a deal that will allow members to decrease their rent bill while also adding to their home decor. About the Home Collection offer: Bilt has crafted a unique Rent Day offer for May 2024. Through the 1st, when Bilt members redeem their points toward rent payments, they'll receive the same number of points to be used toward Bilt Home Collection items. To take...