Prism Data raises a $20M Series A led by Story Ventures to put cash flow underwriting inside the largest US banks

New York-based Prism Data has raised a $20 million Series A led by Story Ventures, with participation from FINTOP Capital, Core Innovation Capital, Obvious Ventures, 1st & Main Growth Partners and Mana Ventures. With the $5 million seed announced in 2023, total funding passes $25 million.

Led by CEO Jason Rosen, Prism spun out of credit card company Petal in 2023. Its software turns consumer-permissioned bank transaction data into credit attributes and scores; the flagship CashScore predicts default risk and first-party fraud from deposit account history rather than a credit file, with variants for BNPL, cash advance and earned wage access.

Prism works with three of the five largest US fintech lenders and six of the ten largest digital banks, and is distributed through Equifax, Plaid and LexisNexis. It says it is implementing cash flow underwriting with several of the country's largest traditional banks. The funding goes to data infrastructure, the REFRACT AI engine behind the next generation of CashScore models, and implementation teams for bank deployments.