Highnote, an embedded finance company specialising in modern card issuance and program management, has secured $90m in a Series B funding round.
The investment was led by Adams Street Partners, with participation from existing investors including Oak HC/FT, Costanoa, WestCap, and Pinegrove Venture Partners.
Highnote provides a comprehensive payments platform that enables businesses to embed virtual and physical card payments, ledger, and wallet functionalities into their products. Its technology aims to create seamless financial solutions for companies of all sizes.
The company plans to use the newly raised capital to accelerate the expansion of its embedded finance and issuing platform. A key focus of this expansion is the launch of its acquiring solution, which allows customers to handle both pay-in and pay-out transactions on a single platform, leveraging a unified general ledger.
With its API-based acquiring platform, Highnote offers businesses the ability to accept card payments online through plug-in checkout software or custom-built features. The platform is directly integrated with major payment networks, enhancing data access, transparency, and economic efficiency for customers. It has received certification from all major US card brands, positioning itself as an attractive solution for SMBs and enterprises seeking a holistic embedded payment experience.
Highnote CEO John MacIlwaine said, “We are excited to partner with Adams Street in our next phase of growth and about our entrance into the acquiring space, which accelerates the expansion of our world-class embedded finance and issuing platform. The acquiring landscape has evolved over time and represents an opportunity for next generation customers to accelerate growth through embedded acquiring in addition to embedded issuing.”
Robin Murray, partner at Adams Street Partners, said, “Highnote’s transformational platform and impressive growth trajectory motivated us to lead this funding round. We are excited to support the company’s vision to lead innovation in embedded finance.”
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