Cardless raises $60m

The round – which brings Cardless’s total funding to $170 million – was joined by Activant Capital, Industry Ventures and Pear VC.

The Cardless platform includes APIs and prebuilt components that enable companies to design every touchpoint — from application to cardholder experience — for their own in-house credit cards without taking on the risk or complexity themselves.

The firm says its customer data and AI applications power smarter decisioning, faster iteration, and more relevant offers. Cards can be launched in as little as 90 days, compared to the 18-month timelines of legacy banks.

Having recently secured deal with Coinbase and Bilt, Cardless says it will use the funding to expand its existing programmes, and introduce a broader range of financial products.

Michael Spelfogel, president, Cardless, says: “Legacy co-brands left billions on the table. Cardless puts companies in control to deepen loyalty, boost revenue, and deliver rewards people actually use. 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.”