Cheese

Cheese provides banking services focusing on immigrants and Asian American communities via a mobile app. It offers a Mastercard debit account to individuals even without a social security number and little to no credit history. Instead, it relies on other sources such as passports and visa information to verify customer details.

The debit account accessible through the mobile provides customers benefits such as 10% cash back on purchases at more than 10,000 selected stores, 3% deposit bonus for referrals, up to 2 days advance in direct deposits, and a 0.3% annual yield on their daily cash balance. In addition, Cheese also had plans to offer services to build customer credit scores, which was open for signups to join the waitlist as of June 2022.

Funding and financials

The company’s last funding round was in May 2020, where it raised USD 3.6 million in pre-seed funding in a round led by iFly.vc.