Empower Finance strikes deal to buy Petal with Cashalo acquisition completed
The deal for Petal is expected to close later this quarter for an undisclosed sum.
The deal for Petal is expected to close later this quarter for an undisclosed sum.
According to a report by Fortune, sources say the start-up has received multiple offers for acquisition.
In addition, the company has also raised $20 million in new equity financing from its existing investors.
The new investment will be split between Petal and Prism Data as the businesses look to scale.
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Petal CEO says firm is hiring across the board for more than 100 positions this year.
Petal has closed $440 million in debt and raised $100 million in equity.
Series B round led by Valar Ventures.
Follows a $13m investment by Peter Thiel’s Valar Ventures.
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