Zed, the Philippines-based credit card startup built for a new generation of Filipinos, has secured US$16.5 million in Series A funding led by Silicon Valley venture capital firm Accel. The milestone investment signals growing global confidence in the country’s fintech ecosystem and Zed’s mission to make credit more accessible, transparent, and relevant to how young people live today.
Accel, best known for backing iconic companies such as Facebook, Spotify, Slack, and Dropbox, joins Zed’s existing investors, including Valar Ventures, along with notable angel investors Immad Akhund and Dalton Caldwell. With this round, Zed’s total funding now stands at US$22.5 million.
At its core, Zed is addressing a familiar frustration among young Filipino professionals. Despite having steady incomes, college degrees, and active careers, many are turned away by traditional banks due to outdated credit scoring systems that prioritize factors like the age of existing credit accounts rather than real financial behavior. This leaves a large, credit-worthy segment underserved.
Zed takes a different approach by using Artificial Intelligence to assess customers based on current income, transaction data, and other modern indicators beyond conventional credit scores. The result is a premium credit card experience designed around real, everyday spending habits. Cardholders enjoy zero foreign exchange fees for global travel, making overseas purchases more affordable, along with smart security features such as unlimited virtual cards with customizable spending limits and auto-expiry options for safer online shopping. The platform also allows peer-to-peer payments on credit, enabling users to split bills and send money seamlessly, then settle everything in one monthly statement.
The Series A round underscores strong belief in Zed’s vision. “In leading Zed’s Series A, we’re backing a team with the skill and ambition to build AI-powered finance that’s transparent, personal, and accessible for customers overlooked by today’s banks worldwide,” said Nafis Jamal, Partner at Accel. He added that young adults often face opaque fees, clunky apps, and impersonal systems that were clearly built for a different era.
Since its invite-only launch, Zed has seen rapid growth driven purely by word of mouth. Its waitlist has grown to nearly 200,000 sign-ups, while the active customer base has increased tenfold since the start of the year. Transaction volume has also surged by around 500%, even as most of the waitlist is still waiting to be onboarded.
With fresh funding, Zed plans to accelerate access for those on the waitlist and expand its team across key functions. The company is hiring for Operations, Risk, Growth, and Support roles in Manila, as well as Product, Design, Data Science, and Engineering roles in San Francisco.
“We’re reimagining financial tools to match the speed and ambition of this generation,” said Co-Founder Danielle Cojuangco Abraham. Co-Founder Steve Abraham added, “Banks in Southeast Asia are running on infrastructure designed for two decades ago. This round helps us rebuild that stack and move toward a future of more personal, proactive banking, made accessible to everyone, not just a few.”
Interested users can sign up at waitlist.zed.co, while career opportunities are available via careers@zed.co.
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