Cardless Secures $60 Million to Expand Embedded Finance Solutions with Coinbase, Bilt
NEW YORK – Cardless, a fintech company enabling brands to launch co-branded credit card programs, has raised $60 million in funding to scale it’s platform and meet growing demand. The company’s rapid growth is fueled by partnerships with major players like Coinbase and Bilt Technologies, demonstrating a shift towards financial services integrated directly within consumer brands.
Cardless reported a 10x increase in revenue and a 400 percent surge in transaction volume over the past year, driven largely by these key collaborations.
Coinbase’s co-branded credit card, powered by Cardless, offers users up to 4 percent in Bitcoin rewards linked to their account activity, fostering increased engagement within the Coinbase ecosystem. Bilt Technologies, a fintech focused on rent rewards, recently transitioned its card issuing platform to Cardless, enabling tailored perks for renters and homeowners.
“Cardless’s technological capabilities and focus on customer experience set them apart,” said Ankur Jain, CEO of Bilt technologies.
Cardless distinguishes itself by offering a full-stack solution encompassing underwriting, compliance, and servicing, while allowing brands to maintain complete control over the user experience. This contrasts with traditional bank partnerships,which can require up to 18 months for card launches. Cardless boasts the ability to launch programs in as little as 90 days.
“We build infrastructure to enable brands to put their credit card directly in their ecosystem. That decreases friction, increases conversion, and ultimately makes the brand more money,” explained Cardless leadership.
Current cardless clients include Coinbase,Bilt,Alibaba,and Qatar Airways. First Electronic Bank,based in Salt Lake City,serves as Cardless’s issuing partner.
This funding round underscores a growing trend: as noted in industry analysis, financial services are increasingly moving “inside the brands consumers already love,” with embedded finance solutions like those offered by Cardless leading the way.
