TLDR
- Cardless secures $60M Series C to scale co-branded credit card programs
- Cardless funding hits $170M as it expands partnerships and card offerings
- Coinbase & Bilt fuel Cardless’s 10x growth and 400% surge in transactions
- Cardless raises $60M to speed launches, boost rewards, and grow user base
- Fintech Cardless targets $150M revenue by 2026 with fresh $60M backing
Cardless has raised $60 million in its Series C round led by Spark Capital. The San Francisco-based fintech company will use the capital to expand card programs, launch new partnerships, and scale its infrastructure. This brings Cardless’s total funding to over $170 million, solidifying its position as a key player in the co-branded credit card space.
The company saw revenue grow 10x year-over-year, driven by strong performance from its flagship programs. Partnerships with brands like Coinbase and Bilt have proven instrumental in delivering this growth. Cardless now plans to accelerate its go-to-market strategy and broaden its customer base.
Cardless provides a full-stack platform for brands to create and manage custom credit card programs. The company handles the complex backend — including underwriting, compliance, and servicing — while brands maintain control over user experience. This model enables launches in as little as 90 days, compared to legacy banks’ 18-month average.
Coinbase Partnership Boosts Cardless Revenue
Cardless has deepened its relationship with Coinbase through its co-branded credit card program. The card allows users to earn Bitcoin rewards of up to 4% on purchases, with higher rates tied to account activity. Instant notifications and real-time data help drive cardholder engagement and loyalty.
This program exemplifies how Cardless uses embedded finance to align financial products with brand ecosystems. The Coinbase card integrates seamlessly into the user journey, helping Cardless attract a digitally native audience. These features have helped the platform outperform legacy offerings in transaction volume and engagement.
Cardless’s transaction volume has grown 400% year-over-year. With usage climbing steadily, the company expects to see more substantial uptake from new financial partnerships. The Coinbase program highlights the company’s ability to tailor offers for specific user bases using data and smart rewards logic.
Bilt Relaunches Card with Cardless Infrastructure
Bilt Rewards selected Cardless to power the new Bilt Card after ending its partnership with Wells Fargo. The updated card will feature improved user experience and personalized rewards designed for renters and homeowners. Cardless’s infrastructure enables Bilt to offer rewards for rent payments and neighborhood spending.
The switch to Cardless represents a strategic pivot for Bilt, prioritizing flexibility and speed of innovation. Cardless’s APIs and components allow Bilt to iterate on features and deepen customer relationships rapidly. The relaunch is expected to boost customer loyalty and card usage among Bilt’s user base.
Bilt’s CEO, Ankur Jain, praised Cardless for its tech capabilities and user-first approach. With this partnership, Cardless continues to grow its footprint among lifestyle-focused brands. Both companies anticipate strong growth in cardholder acquisition and engagement in the coming quarters.
Scaling Ahead of Profitability Target
Cardless aims to hit $150 million in annualized revenue by Q2 2026, up from $15 million in mid-2025. The company expects to reach profitability by the end of 2026 while scaling operations and partnerships. It continues hiring across product, compliance, and support to meet growing demand.
The six-year-old startup began with sports-focused cards but pivoted to broader brands for greater scale. Cardless now competes against major banks and rising fintech players, offering faster launches and more flexible terms. Its lean 50-person team supports a growing roster of high-velocity card programs.
Cardless is positioned to capture market share in the $200 billion credit card industry. The company will continue investing in data, rewards innovation, and embedded finance features. This marks a shift from building to rapid scaling as Cardless accelerates its market expansion.
