The firm, which offers a Visa credit card that people can qualify for even if they’ve never used credit before, is exploring its options, according to Fortune, citing five sources from the private equity, banking and venture capital sectors. Petal has already received several acquisition offers, says one source, adding that even if no deal is agreed the firm has $55 million in the bank from a funding round earlier this year. However, other sources predict the startup will go out of business if it does not secure a buyer. Petal cut around 20% of its workforce in June, says Fortune. The following month it secured a $200 million debt facility, bringing its total funding to $300 million in equity capital and more than $680 million in debt financing. The August facility gave the company "substantial fuel" to expand its card programme, according to a statement at the time. Instead of relying solely on credit scores, Petal has built proprietary technology that analyses banking history—measuring creditworthiness based on income, spending, and savings. Over the summer, it spun off its B2B-focused subsidiary Prism Data.