X1 Raises Additional $15M in Series B Funding

x1 card

X1, San Francisco, CA-based provider of a smart credit card, raised $15M in Series B funding.

The round, which brought the series B round total to $40M, was led by Soma Capital with participation from Brian Kelly, and Kyle Vogt.

The company intends to use the funds to accelerate growth and roll out new financial services for its members, starting with a new investing platform allowing cardholders to buy stocks with their reward points.

Co-founded by Twitter alums Deepak Rao and Siddharth Batra, X1 Card offers a credit card built with 17g of stainless steel and laser etching technology and that leverages technology to offer smart credit limits, a rewards program, and automated features to improve the experience of clients as they shop and spend.

The new trading platform will live within X1’s app and will be rolling out to a select number of cardholders in beta over the coming weeks. Cardholders with access will be able to buy stocks by using earned reward points.