Philippines-Based Startup Zed Raises $16.5 Million to Empower Young Professionals with Credit
Zed, a startup based in the Philippines, specializes in developing credit products tailored for young professionals in the Asia-Pacific region. The company has successfully secured $16.5 million in its Series A funding round, as revealed in an exclusive report by Crunchbase News. This funding boosts Zed’s total financing to $22.5 million.
Leadership and Market Context
Accelerate, based in Palo Alto, California, spearheaded the latest funding. This investment comes during a significant surge in fintech investments, with global venture capital funding for fintech startups reaching $48.7 billion in 2025 across a total of 3,498 deals, marking an impressive 29.5% year-on-year increase.
Inception of Zed
Founded in 2021 by husband-and-wife duo Steve Abraham and Danielle Cojuangco Abraham, Zed stemmed from their experiences while visiting the Philippines. After selling their previous venture, a B2B mobile payment network named Simple, the couple encountered an “aha” moment during a trip when they noticed challenges young professionals face in accessing credit.
The Journey to Product Development
After obtaining a financial institution license from the Central Bank of the Philippines, Zed launched its first product in mid-2024: a modern credit card designed specifically for travel, online shopping, and peer-to-peer transactions. The founders emphasized the significant hurdles they overcame, stating that establishing compliance and operational frameworks was a massive endeavor akin to what traditional banks undergo.
Innovative Credit Solutions for a Young Demographic
Zed positions itself against traditional banks which typically cater to older, more affluent clients. The startup’s credit card features are appealing to young professionals. Highlights include zero foreign exchange fees, the ability to create temporary cards for secure transactions, and seamless money transfers similar to Venmo. Currently, Zed operates on an invite-only basis and has already attracted nearly 200,000 registrations through referrals.
Contemporary Business Growth and Future Plans
The customer base has reportedly grown tenfold, with a staggering 500% increase in monthly spending observed since early 2025. Zed generates revenue primarily through interchange fees and interest accrued on credit card transactions. With a current workforce of 13 employees spread between San Francisco and Manila, the company aims to expand across the APAC region, eyeing markets such as Vietnam, Indonesia, Malaysia, and India.
Endorsements and Future Aspirations
Nafis Jamal, an Acceleration Partner and a former head of consumer payments at the fintech giant Circle, shared his optimism for Zed’s growth prospects, highlighting the potential market for credit access in the Philippines. He praised the co-founders for both their technical ingenuity and in-depth understanding of the local regulatory landscape. Danielle and Steve’s mission, aiming to connect young people across markets with shared financial goals, is set to revolutionize access to credit in a rapidly evolving financial landscape.