Cardless, a US-based credit card platform founded in 2019, has raised $60 million in a Series C funding round led by Spark Capital, bringing its total capital secured since inception to over $170 million.
The investment round, announced on September 23, 2025, saw participation from Californian VC firm Spark Capital as the lead investor. Previous backers Activant Capital, Industry Ventures, and Pear VC also supported the round, alongside other unnamed shareholders. Cardless plans to deploy the new capital to expand its existing card programmes, secure new partnerships, and develop additional financial products.
Headquartered in San Francisco, Cardless provides technology that enables companies to develop and launch co-branded credit cards and loyalty products within 90 days. Through its suite of APIs and custom components, the firm facilitates the embedding of approval processes, rewards, and card management tools directly within client digital platforms. Its client roster includes companies such as Alibaba, Bilt, and Coinbase.
Michael Spelfogel, Cardless co-founder and president, stated his vision that “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.”
According to Bloomberg, Cardless projects reaching $150 million in annualised revenue by the second quarter of 2026 and aims to achieve profitability by the end of 2026. This latest investment follows a $40 million Series B round in 2021 and a $30 million growth investment secured in late 2024.
