Accel leads Zed’s Series A: A Neobank for a New Generation
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Young adults navigating the banking system for the first time often find its doors mostly shut. Getting a credit card requires a history many haven’t had a chance to build. Opaque fees, clunky apps, and impersonal interactions make it clear these institutions were built for a different era (and a different customer).
Enter Zed: AI-Driven Banking for a New Generation
Zed wants to change this. Founded by husband-and-wife duo Steve Abraham and Danielle Cojuangco Abraham (who previously created mobile B2B payments network Symple, acquired by Feather), Zed is building AI-native, globally scalable banking for a new generation. They’ve launched in the Philippines—home to a rapidly-growing middle class—with a credit card focused on travel, online shopping, and peer-to-peer payments. Rather than traditional credit scores, Zed uses AI models that predict risk based on signals like transaction data and responsible spending. While legacy banks focus on a narrow segment of older, wealthier customers, Zed’s purpose-built for the young professionals that traditional financial systems have long ignored, and is poised to grow alongside them.
While still in an invite-only launch period, Zed’s customer base has grown tenfold this year, and the amount those customers spend on Zed has also grown substantially. Next, Zed plans to expand into other countries in APAC, a region with 200 million college-educated adults currently underserved by incumbent banks.
A Tight-Knit Team of Veteran Financial System Builders
Before Zed and Symple, Danielle led design at both Cricket Health and Proteus Digital Health. Steve previously built the corporate development team at Box, led growth equity investments in the internet and software sector at General Atlantic, and worked in technology investment banking at Morgan Stanley. They’ve put together the perfect team for this job: a tight, thirteen-person organization split between San Francisco and Manila with deep experience in financial systems and consumer applications. This includes an engineering and design roster boasting alumni from Circle, Facebook, Google, Amex, and Kabbage who have built products used by millions.
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. Welcome to the Accel family, Zed!
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