With funding of $54 million from Seed and Seed, A round, funds to the tune of $54 million were raised, and thus Highnote, which is regarded as the world’s most modern card platform, is built to give users an embedded card experience.
Consumers expect a fast and effortless mode of payment
Beyond any doubt, the consumer expects a quick and effortless way of payment. Be it while paying for coffee, for health insurance, and the likes. According to estimates, in the U.S alone, the embedded finance sector is expected to be worth $3.6 trillion in the next decade.
Here’s how funds were raised for Highnote
A total amount of $54 million was raised from Seed and Series A round. It has come to light that Oak HC/FT spearheaded Series A. Meanwhile, it is learned that Oak HC/FT co-led the Seed along with Costanoa Ventures. Besides this, there was participation from XYZ, SVB Capital, and WestCap. Additionally, Bill Ready, President of Commerce & Payments at Alphabet Inc Class C (NASDAQ: GOOG) Google, who served as former COO of Paypal Holdings Inc (NASDAQ: PYPL), and Renaud Laplanche, CEO of Upgrade, participated as angel investors.
Highnote is the first card issuing platform especially built for small and mid-sized companies
It is a known fact that the larger corporate houses are armed with the capability and equipped with the technology to meet the demand of embedded finance; it is the small and medium companies who are left in the lurch. Such groups are left with no choice but to depend on legacy providers who seldom give them absolute control. Besides this relying on legacy providers demands tedious legal implementations. Against this backdrop, Highnote, the first card issuing platform especially built for small and mid-sized companies, was introduced.
Highnote is capable of acting as both issuer and the processor
Founded by John Macllwaine, former General Manager at Braintree, and Kin Kee, former Director of Architecture at Braintree, Highnote gives companies the ability to help stand apart from the crowd by taking advantage of embedded payment experiences. As a result, Highnote allows companies to cut down on speed without compromising on the flexibility required to generate customer engagement and loyalty.
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