Fair Raises $20M


Fair, a Houston, TX-based multilingual neobank and financial services platform, raised $20m in funding.

The backers were not disclosed.

Led by Khalid Parekh, founder and CEO, Fair is a membership-based fintech startup that aims to empower consumers with ethical banking, lending, investments and retirement services.

The company will open early bird membership enrollment in March, with a public launch in April.

Fair’s offerings include:

  • Free account-to-account international money transfers
  • Free ATMs and teller services and conventional banks and retail outlets
  • Early access to paycheck funds (two days)
  • Instant, interest-free microloans (buy now pay later at the register)
  • Interest-free loans for home, auto and business (all loans are equity-based)
  • Debit card accounts for kids
  • Up to 2% annual dividend account
  • Available in English, Spanish and Arabic

To join, members will pay a one-time annual or monthly membership fee based on their preference. Fair banking services are provided by Coastal Community Bank, Member FDIC and will offer MasterCard® Debit Card.

Parekh is also founder of AMSYS Group, a tech firm valued at nearly $350 million.

Recent Deals

Interested in advertising your deals? Contact Edwin Warfield.