Pesto

Market position

A Y Combinator Winter 2021 fintech company operating in secured and asset-backed consumer credit, positioned as an alternative to pawn-based lending according to press coverage listed on its Y Combinator profile.

Pesto states it launched the first asset-backed credit card and that its platform is built on infrastructure it operates itself for a live card program, integrating underwriting, servicing, compliance, ledgering, mobile payments and card operations into one system so partners do not have to rebuild it.

Technology

An integrated credit infrastructure stack covering underwriting, servicing, compliance, ledgering, mobile payments and card operations, supporting revolving secured card programs issued on the Mastercard network.

Go-to-market

The consumer product was offered directly to cardholders. The platform is sold to brands through a "Get a Demo" request on the company website.

Consumers seeking a secured, asset-backed credit card, and brands that want to launch and manage their own revolving, secured credit card programs.

Geography

Headquartered in San Francisco, with roles also listed in Los Angeles.

History

Pesto participated in Y Combinator's Winter 2021 batch as a fintech company based in San Francisco, with Jared Friedman as primary partner; job listings associate the company with the name PingLend. It launched an asset-backed credit card and served consumers directly, then converted the operating systems it developed into a platform offered to partner brands seeking to launch their own secured credit programs.