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- Cardless Secures $30M to Drive Co-Branded Credit Card Innovation
Cardless Secures $30M to Drive Co-Branded Credit Card Innovation
Slice of Finance Team
27 Nov
Key Highlights:
$30M growth investment led by Activant Capital, with participation from Mischief, Amex Ventures, and others.
10x revenue growth since early 2023 and fivefold increase in Annual Recurring Revenue (ARR).
Expanded partnerships with global brands, including Qatar Airways, Avianca, and Alibaba.
Only fintech powering co-branded cards on Visa, Mastercard, and Amex networks.
Launched a Visa Infinite product, Visa's most premium card variant.
Source: PR Newswire
Notable Quotes:
"These brands chose us because of our differentiated approach to the entire co-branded card experience. From embedded servicing to leveraging a brand's data for personalized sign-up offers, Cardless delivers an experience that other cobrand-focused banks and fintechs cannot match."
"Cardless is attacking one of the largest markets in fintech that has historically been woefully underserved. Cardless has built the only embedded platform capable of servicing both consumers and SMBs."
Our Take:
Cardless is redefining the co-branded credit card space, addressing a major gap in customer experience for large brands. Its ability to integrate seamlessly with Visa, Mastercard, and Amex while delivering tailored rewards programs showcases the company's technological prowess. The $30 million investment reflects confidence in its capacity to scale and maintain its impressive growth trajectory, especially in challenging economic conditions. With high-profile partnerships like Qatar Airways and Alibaba, Cardless is setting a new standard for innovation in the co-branded credit card market.