Cardless, a credit card platform for product-first companies, secured $60 million in Series C funding. Spark Capital led the round. This latest investment brings Cardless's total capital raised to over $170 million.
The platform enables companies to design and launch credit cards in-house. This process takes as little as 90 days.
Cardless manages underwriting, compliance, and cardholder support. This approach allows companies to maintain control over customer relationships.
The platform has delivered 400% year-over-year transaction growth.
Expanding Embedded Credit Card Offerings
Current partners include Coinbase, Bilt, Qatar Airways, and Alibaba. These collaborations highlight the demand for embedded finance solutions. Cardless offers an alternative to traditional credit card technology provided by legacy institutions like JPMorgan Chase.
The company's platform uses APIs and prebuilt components. It covers the full credit journey, from application to cardholder experience. This model contrasts with the longer timelines of traditional banks such as Wells Fargo.
