In the United States, credit cards are extremely powerful tools for consumers, the foundation of consumer lending, and the highest revenue sector in all of payments. Within the card market, co-branded cards - a partnership between a brand and a card issuer - makes up a quarter of spending, roughly $1 trillion. Yet this massive segment is stagnant and missing most of the tech-forward brand that defines today's consumer landscape.
Cardless is breathing new life into the card industry with their modern credit card issuing platform. They allow today's brands to launch a credit card within weeks, rather than months, with customized rewards that are managed from a best-in-class consumer app.
We led Cardless's Series B in July 2020.
$ 40 MM