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Cardless Secures $60 Million to Expand Co-Branded Card Offerings

According to Cardless, its $60 million Series C funding led by Spark Capital underscores strong growth momentum, with high-profile brand partnerships fueling rapid expansion in the co-branded credit card sector.

Fact Check
Multiple recent articles from credible sources, specifically Bloomberg and Bloomberg Law, directly corroborate that Cardless raised $60 million. Conflicting information from other sources appears to be outdated or related to a different event, such as a funding round for a venture capital firm that invested in Cardless, rather than for Cardless itself.
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Summary

Cardless announced the close of a $60 million Series C funding round led by Spark Capital, bringing its total capital raised to over $170 million. Other investors include Activant Capital, Industry Ventures, and Pear VC. The platform enables companies to launch branded credit cards in as little as 90 days, handling underwriting, compliance, and customer support. Cardless has partnered with brands such as Coinbase, Bilt, Qatar Airways, and Alibaba, reporting 400% year-over-year transaction growth. Funds will support the expansion of existing programs, launch of new co-branded cards, and development of additional financial products.

Terms & Concepts
  • Co-Branded Credit Card: A credit card issued through a partnership between a financial institution and a retail or service brand, offering benefits tied to the partner's products or services.