Card issuing company Highnote has raised $54m in seed and Series A funding as the firm emerges from stealth.
Highnote secured the funding from Oak HC/FT, XYZ Ventures, SVB Capital, West Cap and Costanoa Ventures.
Founded in 2020, Highnote offers a card issuance platform that enables digital firms of all sizes to embed virtual and physical payment cards into their existing products. The company comprises of 42 individuals who have come from a range of businesses including Google, PayPal, Goldman Sachs and JP Morgan.
The firm said it is aiming to overcome the ‘cumbersome limitations of legacy card issuing platforms’ by promising speedy implementation, simple integration and the flexibility to adapt the platform to meet specific customer needs.
According to Highnote, it will use the newly raised capital to grow its product and engineering teams as it continues to build out its product to involve instant credit issuance, full-stack acquiring and global expansion.
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