Philippines credit card startup Zed has raised US$16.5 million in a Series A funding round led by Accel, the venture capital firm known for backing global tech giants like Facebook, Spotify, and Slack.

This fresh capital brings Zed’s total funding to US$22.5 million.

The investment marks a significant milestone for the local fintech sector, signalling growing confidence from top-tier Silicon Valley investors in Philippine-founded financial technology.

Founded by Danielle Cojuangco-Abraham and Steve Abraham, Zed targets young Filipino professionals who are often overlooked by traditional banks.

Instead of relying solely on outdated credit scores, the company utilises artificial intelligence (AI) to underwrite customers based on current income, transaction data, and other alternative sources.

“We’re reimagining financial tools to match the speed and ambition of this generation,” said Co-Founder Danielle Cojuangco-Abraham.

The startup’s credit card offers premium features tailored to modern spending habits, including zero foreign exchange fees, unlimited virtual cards with customisable spend limits, and auto-closure settings for enhanced security.

Steve Abraham, Co-Founder of Zed, noted that the funding would accelerate their plans to rebuild the financial stack.

“We envision a future where we can deliver a level of personal, proactive banking that used to be reserved for the few, and make it accessible to everyone,” he said.

Since its invite-only launch, Zed has seen significant demand, with nearly 200,000 sign-ups on its waitlist.

According to the company, it has recorded a 500% increase in monthly transaction volume since early 2025.

Featured image by yogiermansyah22 via Freepik.