X1, a US-based smart credit card provider, has secured $15m in a Series B funding round led by Soma Capital.
The round also saw participation from individual angel investors such as Kyle Vogy and Brian Kelly.
X1 claims it is the ‘smartest credit card ever made’ and is built with 17g of stainless steel and laser etching technology.
The company said it harnesses the power of technology to offer smart credit limits, an ‘unparalleled’ rewards program and automated features that it believes will ‘transform the way you shop and spend’.
X1 is partnered with Visa Signature, allowing cardholders to use it at more than 46 million merchants around the world.
According to FinSMEs, 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.
X1 plans to use the newly raised capital to speed up growth and roll out new financial services for its members, beginning with a new investing platform allowing cardholders to buy stocks with their reward points.
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