Croissant, a fintech platform that aims to provide a more affordable and accessible alternative to traditional banking, has recently launched with $24 million in initial funding. The platform offers a suite of financial products and services, including a chequing account, savings account, debit card, and mobile app.
Croissant’s mission is to bring banking services to underserved and underbanked communities, who often struggle to access traditional banking services due to high fees and strict eligibility requirements. The platform’s approach is to offer lower fees and more flexible eligibility criteria, while still providing the same level of security and convenience as traditional banks.
The $24 million in initial funding for Croissant was raised from a group of investors led by Insight Partners, a global venture capital and private equity firm. Other investors include Redpoint Ventures, Abstract Ventures, and FJ Labs.
Croissant is one of the latest additions to the growing fintech industry, which has seen significant growth in recent years. The industry has disrupted the traditional banking sector by offering innovative and user-friendly financial products and services that are accessible to a wider audience. With its focus on affordability and accessibility, Croissant is well-positioned to become a major player in this space.