Congratulations to Jessica Zhang, Alex Hegevall Clarke, and the Pier team— we’re excited to be a part of the journey!
We’re excited to announce Pier’s $2.4M oversubscribed round with investors including Y Combinator, Liquid 2 Ventures, HorizonVC, ACME Capital, our customers and many strategic angels including debt funds, founders/leaders from successful fintechs and founders of publicly traded companies. At Plaid, Stilt and J.P. Morgan, Alex Hegevall Clarke and I saw firsthand how the credit industry struggle with fragmented solutions and high compliance hurdles. With stringent federal and state regulations across 50 states, building an in-house tech stack capable of handling compliance becomes a time-consuming and expensive endeavor, often takes 9-12 months and costs millions. Pier is building "Stripe for Credit” to solve the problem. Our technology enables businesses to seamlessly launch or automate credit products. every aspect of the credit lifecycle, from origination and underwriting to compliance and servicing. Read more in our TechCrunch article - see link below in comments. Special thanks to our investors and early believers: Brad Flora, Puneet Kumar, Divya Bhat, Garry Tan at YC; Mike Miller, Brian Yee, Max Luo, Aike Ho Sandy Kory, Brian D. Ward, Brian Neer, Ryan Frazier Michael Ye, Bond Leung Sudarta, Devon Gethers and many more!