Petal Card, backed by Peter Thiel’s Valar Ventures, seeks buyer

Hands holding up Petal Card credit cards. (Credit: Courtesy of Petal Card)

Petal Card is seeking a buyer as doubts loom about the fintech’s survival, according to five private equity, venture and banking sources.

Petal has tapped Goldman Sachs to advise on the process, they said. It’s unclear how much the startup is seeking. Petal was valued at $800 million in January 2022.