Philippine credit card startup Zed raises $16.5m in new funding

The company uses AI to underwrite customers.

Philippine credit card startup Zed has raised $16.5m in a Series A funding round.

The round is led by Accel, a venture capital firm that has backed companies like Facebook, Spotify, Slack, and Dropbox, according to a press release.

Zed has raised a total of $22.5m.

Zed is a credit card company that targets young Filipino professionals. The company uses artificial intelligence (AI) to underwrite customers based on their current income, transaction data, and other data sources outside of just traditional credit scores.

Amongst services offered include zero FX fees or markup, unlimited virtual cards with custom spend limits and auto-closure settings, and the ability to split bills and send money seamlessly.

To date, Zed has nearly 200,000 sign-ups and has seen a 500% increase in monthly spend since early 2025, according to a press release.