US-based virtual card platform Privacy.com has scored $10.2m in its Series A round, which was led by Teamworthy Ventures.
Tusk Venture Partners, Index Ventures, Quiet Capital, Exor Seeds and Rainfall Ventures also joined the round as investors.
With the equity burst, the company will continue the expansion of its API. Its API enables businesses of all sizes to issue and manage virtual and physical cards. Tools include procurement, expense reimbursement, disbursement automation, on-demand services, digital banking, agency services and more.
The company’s API has been in beta testing for over a year and has been used by more than a hundred developers.
Privacy.com CEO Bo Jiang said, “Many existing payment processors espouse being developer-first, but their solutions still take months to build, cost thousands of dollars, and require customers to sign an NDA before sharing pricing.
“We decided to build the most efficient, transparent, and easiest way to issue virtual cards. Privacy.com makes it possible to issue a virtual card in hours and provides all the pricing upfront, making it friendlier for developers everywhere.”
Last year, Teamworthy Ventures supported the $27m Series B round of modernised health savings app Lively.
Copyright © 2020 FinTech Global
