Deserve, a Fintech Startup, Considers Sale Amid Market Challenges

Deserve, a Silicon Valley fintech startup, is experiencing challenges in the market and is considering a potential sale. The 10-year-old company, backed by investors like Goldman Sachs, Visa, and Mastercard, has faced financial setbacks exacerbated by the crypto industry upheaval. Despite Deserve's optimistic outlook for 2024, industry insiders predict a potential sale at a significantly reduced valuation compared to its peak in 2021. Founder and CEO Kalpesh Kapadia's journey from India to the U.S. and the company's transformation from consumer credit cards to facilitating credit card launch for other businesses are significant aspects of their story. As the fintech market becomes more competitive, Deserve's struggles also highlight broader challenges for fintechs in the consumer lending space, particularly in the face of regulatory scrutiny and market complexities.