We’re delighted to announce that Union Square Ventures has joined our mission at Possible by leading a $11M Series B earlier this year. Existing major investors also participated in the round, including Canvas Ventures, Unlock Venture Partners, Columbia Pacific Advisors, Union Bay Partners, Tom Williams, and FJ Labs. We also secured $80 million in new debt financing from Park Cities Advisors. The equity and debt fundings have enabled us to grow our team rapidly and serve as many customers as we possibly can during the ongoing pandemic.
We met Gillian Munson and her partners at Union Square Ventures during the height of government enforced lockdowns in April. After a few Zoom calls, it was apparent that USV was the right long-term partner for Possible given our shared commitment to sustainable social impact. I’m glad to have Gillian as a board member and USV as a partner in building Possible. You can read about USV’s investment thesis in Gillian’s own words here.
Furthermore, the Possible team has fully transitioned to remote work, permanently converted our Seattle office to a co-working space, and have onboarded new team members from across the US and the globe. Tyler, our CTO, explains, "Being fully distributed allows us to access the talent pool of the entire world. Our success so far is a reflection of the quality of our people, and we believe hiring globally will allow us to find exceptional people to join us in achieving our mission.” If you’re interested in making financial services more fair and affordable for hardworking Americans, we’d love to work with you regardless of where you live! Check out our careers page for a number of new job openings.
Since launching in June 2018, we’ve given out loans to hundreds of thousands of customers, helping meet short-term cash needs while building credit history or establishing credit history for the first time. We’re excited to serve more customers like Gabriel, who wrote this recent review, "Great and easy app. It is helping me with my credit and is way better than any payday loan place. I highly suggest if you are wanting to help your credit rebuild and need some extra cash. Thanks Possible!"
The additional funding and transition to remote work will allow Possible to move faster in making financial services more fair and affordable for lower-income Americans. Our mission is more important than ever before, and we’re committed to doing everything we can to help our customers during these trying times.