Cardless, a US-based credit card platform, has raised $60 million in a Series C funding round led by Californian VC Spark Capital. The investment round was further supported by previous backers Activant Capital, Industry Ventures, Pear VC, and other unnamed shareholders.
Founded in 2019 and headquartered in San Francisco, Cardless provides technology that enables companies to develop and launch co-branded credit cards and loyalty products within 90 days. Through its suite of APIs and custom components, the firm enables businesses to embed approval processes, rewards, and card management tools directly within their digital platforms. According to Bloomberg, the fintech projects reaching $150 million in annualised revenue by Q2 2026 and aims to achieve profitability by the end of 2026.
Michael Spelfogel, Cardless co-founder and president, envisions that “over the next decade, financial services will move inside the brands consumers already love – and Cardless is leading the shift by building the infrastructure to make it possible”.
The company, whose client roster includes Alibaba, Bilt, and Coinbase, plans to use the new capital infusion to expand its existing card programmes, secure new partnerships, and develop additional financial products.
This latest investment brings Cardless’ total funding to date to over $170 million, following its $40 million Series B in 2021 and a $30 million growth investment round secured in late 2024.
Source: https://www.fintechfutures.com/
