Kard, a New York-based provider of an API service that connects modern card issuers to brands, raised $23M in Series A funding.
The round was led by Tiger Global, with participation from Fin Capital, s12f, and Underscore VC.
The company intends to use the funds to expand its merchant network and product suite, as well as bolster hiring efforts across all departments, including engineering, product, sales, and account management.
Led by CEO Ben Mackinnon, Kard is a rewards platform that specifically services the entire spectrum of card issuers, including traditional banks, neobanks, banking-as-a-service providers, and the broader fintech market — anyone building a card experience. It enables users to build and offer a rewards program to their customers from scratch, which includes finding and integrating with retail partners, matching card transaction data to specific locations, negotiating ad rates, managing settlements, and more.
Kard works with digital bank Varo and a network of merchant advertisers, helping them build targeted offers to appeal to the right shopper at the right time and capture incremental market share within a highly desirable audience. Offers are translated into each card issuer’s native format — cashback, points, and more. Kard’s partner include national merchants, advertising agencies, small e-tailers, and in-house digital advertising teams.
