Tiger Global leads the round, which will expand Kard’s merchant network and product suite
NEW YORK–(BUSINESS WIRE)–Kard, the rewards-as-a-service API that connects modern card issuers to the brands their cardholders love, announced today that it has raised a $23 million Series A round led by Tiger Global. Also participating in the round are Fin Capital, s12f, and existing investor Underscore VC, which led Kard’s Seed round; as well as a number of strategic angel investors. Kard will use this round to expand its merchant network and product suite, as well as bolster hiring efforts across all departments, including engineering, product, sales, and account management.
Kard is the first 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 unique card experience. Rewards programs have become table stakes for cardholders in a crowded and competitive market, but building a rewards program from scratch requires finding and integrating with retail partners, matching card transaction data to specific locations, negotiating ad rates, managing settlements, and more. Kard’s capabilities handle all of this, allowing any card issuer to seamlessly embed a fully customized and tailored rewards solution into its own user experience, optimized for its unique customer base.