đź“ť Cardless raises $30M

Author

Liam Gill
November 27, 2024

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News of the Day

More than a quarter of U.S. residents use co-branded credit cards, but many brands like Walmart and Uber have pulled back from loyalty card programs due to lackluster returns. Enter Cardless, a San Francisco-based startup that claims to revolutionize the co-branded credit card industry through embedded finance and efficient customization. Cardless just raised $30 million in funding, led by Activant Capital, with strategic backer Amex Ventures joining. Offering Visa, Mastercard, and Amex options, Cardless helps brands create tailored card experiences—complete with rewards, fraud detection, and analytics—within weeks. With fivefold revenue growth and customers like Qatar Airways and Alibaba, Cardless is betting on untapped potential, particularly among brands new to credit cards. Investors believe the $77 billion industry is ripe for disruption as Cardless aims to outperform the 11 banks dominating the market today.

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