Pesto
Pesto, formerly known as PingLend, is a fintech company based in San Francisco, offering the Pesto Secured Rewards Mastercard, which allows customers to secure credit using personal items like jewelry or a cash deposit.
Company Overview
Pesto is a fintech company located in San Francisco, CA, USA with a team size of 8. Operating in the credit and lending sub-industry, Pesto is known for its innovative credit solutions. The company was part of the Y-Combinator's W21 batch and caters to regions including the United States, America/Canada, remote, and partly remote locations.
Pesto Secured Rewards Mastercard
Pesto offers the Pesto Secured Rewards Mastercard, which provides 1% cash back on purchases. The credit line is based on the total value of items such as diamond rings, gold, luxury watches, or a debit card used as security deposit. This card does not require a credit score check to prequalify, making it accessible to a broader audience. The card can be used wherever Mastercard is accepted. The credit line is reviewed for a potential increase after six months of account activity.
Unique Security Deposit Options
Pesto allows customers to use valuable items like diamond rings, gold, and luxury watches as security for their credit card instead of cash deposits. This unique approach leverages the value of physical assets to secure a credit line. Items provided as security are insured, and Pesto offers insured shipping for these items, ensuring the valuables are protected throughout the process. This service provides flexibility and increases credit accessibility for users.
Media Features and Recognition
Pesto has been featured in prominent publications such as TechCrunch, NerdWallet, Fortune, and Forbes. These features highlight the company's innovative approach to credit and lending in the fintech industry. Media recognition is a testament to Pesto's unique offerings and its impact on the credit market.
Customer Support and Accessibility
Pesto provides a user-friendly mobile app for card management and offers live support to address customer inquiries and issues promptly. The company accepts Individual Taxpayer Identification Numbers (ITINs) for applications, ensuring that a broader audience can access their services. Additionally, Pesto offers flexible borrowing times, catering to the varied needs of its customers.