The primary focus of this newly acquired capital is to bolster Imprint’s financial standing. By strengthening its balance sheet, the firm aims to amplify its loan portfolio significantly and position itself optimally to take over existing co-branded issuer programs.
The substantial investment is a testament to Imprint’s growth trajectory and its strategic approach to delivering a modern co-branded credit card experience.
Over the past year, the firm has witnessed substantial growth, marked by successful partnerships with H-E-B, Holiday Inn Club Vacations, and Westgate Resorts. These collaborations have translated into noticeable increases in customer loyalty within their respective programs, prompting Imprint to explore further partnerships in the travel and retail sectors.
Writing in a statement following the announcement, Imprint CEO and founder, Daragh Murphy said, “Our ambition is to build a technology-first financial institution that focuses on the needs of great brands and their customers. We have intentionally built our platform with this in mind. We have developed a proprietary credit card ledger and core, a custom rewards platform, a machine-learning-based risk decision engine, and a seamless cardholder experience. Our brand partners can easily incorporate all elements of our cardholder experience into their website or app to further compound the loyalty growth from their co-branded card program.
“Building Imprint has been my life’s work, and I am incredibly fortunate to have brilliant collaborators across the team. This latest investment coincides with us adding deep industry expertise to our talented team, and we are always looking for new people who share our values. If you are courageous and ambitious, have an exceptionally-high bar, and pride yourself on creating tangible impact through your work, we would love to meet you,” he added.
Keep up with all the latest FinTech news here
Copyright © 2023 FinTech Global