Kard secures $15m growth capital from Trinity Capital

October 22, 2025

Trinity Capital, a leading alternative asset manager based in Phoenix, Arizona, has provided $15m in growth capital to Kard Financial, a commerce media network that enables FinTechs and financial institutions to enhance customer loyalty through data-driven, merchant-specific rewards.

The $15m investment from Trinity Capital will support Kard’s continued expansion and innovation. The funding represents a strategic collaboration aimed at helping Kard scale its platform and enter new markets.

Kard operates an API-first rewards infrastructure that allows banks, FinTechs, and loyalty programmes to create deeply tailored and dynamic rewards ecosystems. Its technology connects issuers, merchants, and consumers to build loyalty while offering merchants scalable ways to drive measurable customer acquisition. Kard’s network processes more than $10bn in transactions each month and reaches tens of millions of consumers across the U.S., leveraging AI-driven insights from first-party transaction data to deliver personalised reward experiences.

Trinity Capital senior managing director of tech lending Phil Gager said, “Kard’s approach to loyalty programs modernizes outdated systems and creates greater accessibility across the entire ecosystem. We are excited to partner with their team as they continue to innovate within the rewards industry.”

Kard CEO Ben Mackinnon said, “Kard started as a point solution helping our fintech and card issuer partners offer merchant-funded rewards, and has evolved into a scaled commerce media network.

“With spend data aggregated across debit, credit, receipts, and other sources, we can see how consumers actually spend—and, more importantly, what motivates them to switch. That insight lets us create measurable, incremental value for both financial institutions and merchants.”

Founded in 2008, Trinity Capital has deployed over $4.7bn across more than 420 investments, operating across five key lending verticals: sponsor finance, equipment finance, tech lending, asset-based lending, and life sciences.