COMPANY INFO
Discover Financial Services, Inc. was founded in 1985 by Sears. As of 2023, it has approximately 21,100 employees and operates in the financial services industry. Its website is discover.com. The company provides banking and payment services including credit cards, personal loans, and deposit products, and operates the Discover, Pulse, and Diners Club payment networks. It was acquired by Capital One in May 2025, continuing to offer its financial products under the Capital One brand. (Discover.com, Wikipedia, Macrotrends, PitchBook)
Discover Financial Services, Inc. is a leading name in the financial services industry, founded in 1985 by Sears. Headquartered in Riverwoods, Illinois, the company employs approximately 21,100 people and operates across several locations in the United States. Discover Financial Services, Inc. is renowned for providing a broad range of banking and payment services, including credit cards, personal loans, and deposit products. The company also operates major payment networks such as Discover, Pulse, and Diners Club. In May 2025, Discover Financial Services, Inc. was acquired by Capital One, continuing its legacy by offering financial products under the Capital One brand.
Over its history, Discover Financial Services, Inc. has maintained a measured and strategic approach to external financing. The company’s only recorded funding round is a seed investment in 2013, through which it raised a total of $750K. This conservative funding profile reflects Discover Financial Services, Inc.'s position as a mature financial institution, leveraging its scale and operational capacity rather than continuous rounds of venture capital. Key investment milestones for Discover Financial Services, Inc. include its early-stage development support from renowned backers before scaling through organic growth and strategic industry moves, culminating in its notable acquisition by Capital One.
Seed funding was secured to support the initial launch and early development of Discover Financial Services, Inc.'s offerings. This foundational capital enabled the company to build its core financial services infrastructure and establish itself in the competitive financial services market.
Salesforce played a pivotal role as a lead investor in the seed round of Discover Financial Services, Inc., providing not only financial backing but also strategic support for early-stage development and market entry.
Bessemer Venture Partners participated as a lead investor during the seed stage, contributing essential capital and advisory expertise which helped Discover Financial Services, Inc. set the groundwork for its ensuing growth and success in the financial sector.
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