Zed raises $16.5 million in Series A for Asia credit cards

Zed raised $16.5 million in Series A funding. Accel led the round. It offers credit to young pros in Philippines.

Funding details: $16.5 million (Series A)

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Zed raised $16.5 million in Series A funding. Accel led it from Palo Alto. Total funding hits $22.5 million. This follows a $6 million seed in 2021. The Philippines startup targets young professionals in Asia-Pacific.

Accel backs Zed’s credit cards for those banks reject. Founders saw the need on a trip. Young lawyers and grads lack cards despite good jobs. Zed uses data like cash flows and spending for risk checks, not just age-based scores.

The funds help expand in APAC like Vietnam, Indonesia, Malaysia, India. Long-term, global reach. The card has zero FX fees, single-use options, and easy P2P sends. Waitlist has 200,000 from word of mouth. Customer base grew 10x, spend 500% in 2025. Revenue from fees and interest.

Steve Abraham and Danielle Cojuangco Abraham, co-founders and co-CEOs, said banks miss prime young users. They built compliance and ops for a Central Bank license. Launched mid-2024.
Accel’s Nafis Jamal said few have credit in fast-growing Philippines. He praised the team’s tech, local know-how, and execution.

Zed builds credit products for young professionals in Asia-Pacific. It serves the Philippines now with plans for more APAC countries. The startup uses alternative data to underwrite for stable jobs and spending habits.

Details from a Crunchbase News exclusive.