Pesto is a San Francisco, CA-based fintech that launched the Pesto Mastercard, an asset-backed secured credit card, in 2023. The card, issued by Continental Bank, allows consumers to send Pesto their assets and receive credit based on asset value regardless of credit score. It is designed to help users secure liquidity and build credit over time without selling assets, enabling many who don't qualify for unsecured cards to potentially improve their credit profiles. Pesto offers rates similar to existing credit cards, which the article notes are substantially lower than what pawn and payday loan clients typically pay. The company plans to use new funding to expand its customer base across the U.S., with an initial focus on Atlanta and Los Angeles. James Savoldelli is the founder and CEO.

Total raised

$11M

Funding rounds

1

Latest round

Series A

Latest activity

May 2023