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Fizz raises $14.4m to help Gen Z build credit for the future

Fizz raises $14.4m to help Gen Z build credit for the future

Fizz, the student debit card that builds credit, has raised a $14.4 million series seed round to provide young generations with an easy-to-use debit card that helps avoid overspending.

Fizz's debit card uniquely aids young adults in establishing credit without the burden of interest or fees. The financing was led by Kleiner Perkins with participation from SV Angel, Y-Combinator, New Era Ventures, and the founders and operators behind ten unicorns, including Handshake, Postmates, and Public.com.

Fizz is the first credit-building debit card for students with an innovative, proactive AI budgeting solution at its core. Fizz also offers engaging, gamified financial literacy courses presented in a fun and interactive quiz format. Fizz has already helped students build credit at every Ivy League school, and every top-25 US News & World Report school. The Fizz card requires no credit history, cosigner, or security deposit to get started, making it accessible to nearly all young adults, including internationals.

Carlo Köbe, Co-founder and CEO, Fizz: "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. After dropping out of Cornell and Harvard during COVID, we spent nearly two years working with regulators and banks to launch Fizz.''

Fizz plans to use the capital to scale its team and build out additional product lines, as well as invest in marketing and sales to build awareness at more colleges and universities.

Ilya Fushman, Partner, Kleiner Perkins: "Financial independence usually starts in college and getting it right is incredibly important, but most of the services have not changed in decades. Fizz has built the technology and partnerships to offer a suite of modern products that make it easy for college students to get on the right path and build their financial future. The impact these products are having on the ground is terrific."

The financing is the latest milestone in a record-breaking year for Fizz. In the last 12 months, Fizz grew from 0 to over 300 colleges and universities, and this year will cross 9 figures in annual card volume. Millions of students graduate with credit card debt—Fizz's first order of business is creating a way out of that vicious cycle for young adults, and growing into a household name in the personal finance ecosystem.

www.joinfizz.com

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