FinTech News
Imprint Raises $150 Million, Reaches $1.2 Billion Valuation
A FinTech that helps brands create rewards credit cards has closed a new round of funding.
About the Funding Round:
This week, Imprint announced that it raised $150 million. The Series D was led by Khosla Ventures, while Thrive Capital, Ribbit Capital, Kleiner Perkins, Hedosophia, Spice Capital, and Timeless also participated. Notably, the funding was raised at a valuation of $1.2 billion, securing “unicorn” status for the startup. To date, Imprint has now raised a total of $852 million, including a $24 million Series C last year.
According to Imprint, these latest funds will help the company accelerate is product delivery, expand into new financial products, implement automation/AI, and more. Meanwhile, this round comes as the startup has seen strong growth, increasing its cardholder base by 200% year over year. Recently, Imprint has also partnered with such brands as Rakuten, Booking.com, Crate & Barrel, and Fetch.
More on Imprint:
Imprint is a FinTech that aims to help brands create credit cards and other financial products that also integrate loyalty rewards. In a press release, the company notes that its partners have seen an 8x increase in lifetime value for cardholders (when compared to non-cardholders) and a 20% increase in cardholder spending versus prior loyalty programs. Currently, Imprint not only powers card products from the aforementioned brands but also HEB, Brooks Brothers, Turkish Airlines, and more.
What They’re Saying:
Commenting on the impact of this latest round, Imprint CEO and co-founder Daragh Murphy said, “This investment strengthens our position as the technology-first alternative to legacy co-brand issuers. We are excited to continue partnering with beloved brands and to help them deliver experiences that are modern, rewarding, and deeply connected to their customers.”
Additionally, Khosla Ventures Managing Director Keith Rabois said of the FinTech, “Imprint’s technology advantage enables them to execute with a level of speed and customization that legacy issuers simply cannot match. They have quickly become the partner of choice for major enterprises, and that momentum is why we are thrilled to double down.”
My Thoughts:
I’ve been following Imprint for a while and always thought that they had an interesting angle. Even if the credit cards they’ve created aren’t always for me (since the brands they’ve partnered with haven’t been my favorites), there’s no denying that they’re onto something with their approach. That’s why I’m not at all surprised to see them raise a successful Series D and cross that billion-dollar valuation mark. Perhaps one day they’ll help power a card program I’m actually attracted to!
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