Cardless, a San Francisco, CA-based fintech provider developing co-branded credit card solutions, raised $30M in funding.
The round was led by Activant Capital, with participation from new and existing investors including Mischief, Industry Ventures, Thayer Ventures, Assurant and American Express.
The company intends to use the funds for the continued development of co-branded credit card and loyalty products, ongoing talent hiring in engineering and operations, and expansion into major retail, e-commerce, and SMBs.
Led by President Michael Spelfogel, Cardless is a provider of a credit card experience integrated into a mobile app or website, allowing to adapt the style and integrate it into customers’ ecosystem, or build one around it.
In 2024, Cardless continued to expand its portfolio of co-branded credit cards with a series of launches. The company partnered with airlines like Avianca and Qatar, the latter of which won World’s Best Airline for the 8th time at the 2024 World Airline Awards, managed by Skytrax. These additions build on Cardless existing partnerships with LATAM and TAP Air Portugal, bringing their total number of airline co-branded partners to four.
Additionally, the company ventured into the business and e-commerce space by partnering with Alibaba to introduce its first business credit card, designed for small and medium-sized businesses.
FinSMEs
26/11/2024