Lithic, a NYC-based card issuing platform for developers, raised $60m in Series C funding.
The round, which brought total fundraising to $110m, was led by Stripes, with participation from Bessemer Venture Partners, Index Ventures, Exor, Rainfall, Tusk Venture Partners, and Commerce Ventures.
The company intends to use the funds to continue to grow, help the team scale and expand the platform through strategic acquisitions to enhance the product and its core offerings.
Led by Bo Jiang, CEO and cofounder, Lithic provides an API platform for developers at startups and enterprises alike to quickly launch new debit and credit card programs. The company’s self-serve platform allows developers to optimize back-office operations and avoid unnecessary administrative burden. The new round of funding follows May 2021 Series B, when Lithic also officially launched its API developer platform.