Cardless Secures $60M Series C Through Strategic Coinbase Partnership
Fintech startup Cardless has raised $60 million in Series C funding, propelling its embedded credit card platform to new heights. The San Francisco-based company secured this round led by Spark Capital, bringing its total funding to over $170 million. This milestone comes on the heels of successful partnerships with major players like Coinbase and Bilt Rewards.
Coinbase Partnership Drives Cardless Innovation
Cardless partners with brands to design and manage innovative co-branded credit card programs through seamless digital experience and powerful technology. The Coinbase collaboration exemplifies this approach perfectly. The co-branded credit card program allows users to earn Bitcoin rewards of up to 4% on purchases, with higher rates tied to account activity.
Coinbase used Cardless APIs to imagine a credit experience built for crypto, not traditional finance. The team built every component in-house, using their design philosophy to deliver the authentic Coinbase experience. This partnership demonstrates how embedded finance solutions can transform traditional credit card offerings.
Embedded Finance Revolution Through Strategic Funding
Cardless’ API-based platform, underwriting, and servicing workflows enable brands to create custom credit card programs that drive higher engagement and loyalty. Unlike traditional co-branded credit card models, this approach gives companies complete control over their customer experience.
The company will use the Series C capital to expand card programs, launch new partnerships, and scale its infrastructure. This funding enables Cardless to accelerate growth in a market that traditional banks have historically dominated.
Strategic Partnerships Fuel Revenue Growth
The timing of this funding round reflects strong market momentum. Revenue has increased 10x with partnerships from Coinbase and Bilt. These collaborations showcase the power of embedded finance solutions in creating differentiated customer experiences.
Bilt Rewards represents another significant partnership for Cardless. The company’s ability to work with diverse brands across different sectors demonstrates the versatility of its embedded credit card platform. Each partnership validates the market demand for API-driven financial products.
Market Positioning in Embedded Finance
Cardless raised $60 million in fresh venture funds to add features and build programs with name-brand clients, part of its effort to gain a stronger foothold in a business that traditional banks still dominate. This funding positions the company to compete directly with established financial institutions.
The embedded finance sector continues to expand as companies seek greater control over their financial products. Cardless provides the infrastructure that enables brands to launch credit cards without building complex financial systems from scratch. This approach reduces time to market while maintaining brand identity.
Technology Infrastructure Powers Partnership Success
Instant notifications and real-time data help drive cardholder engagement and loyalty. These technical capabilities differentiate Cardless from traditional credit card providers. The platform’s API-first architecture enables rapid integration with partner systems.
The Coinbase partnership illustrates how fintech companies can leverage embedded finance to create unique value propositions. By combining crypto rewards with traditional credit functionality, the collaboration appeals to digitally-native consumers seeking innovative financial products.
Future Expansion Through Enhanced Capabilities
This Series C funding enables Cardless to expand its platform capabilities significantly. The funding will expand the capabilities of its credit card platform, which allows companies to launch cards in-house. Enhanced features will attract additional enterprise clients seeking embedded finance solutions.
The company’s growth trajectory suggests strong market demand for API-driven credit card solutions. As more brands recognize the value of controlling their customers’ financial experience, Cardless is positioned to capture significant market share.
Conclusion
Cardless has raised over $170 million to date with this Series C round, demonstrating investor confidence in embedded finance solutions. The successful partnerships with Coinbase and Bilt Rewards validate the company’s approach to API-driven credit card programs. This funding positions Cardless to accelerate growth and capture additional market opportunities in the expanding embedded finance sector.
