Extend raises USD 40 million in Series B funding

Thursday 28 October 2021 10:57 CET | News

US-based startup Extend has announced its USD 40 million Series B fundraising round led by March Capital.

To date, Extend has integrated with networks and processors, including Global Payments/TSYS, Mastercard, and Visa to build a platform that supports product development on top of the infrastructure banks are built upon. This means card issuers can enable Extend’s solutions with their current product offerings, no technical implementation required. Most recently, American Express announced they are now offering Extend’s virtual card platform to their Business Card Members with the ability to self-onboard with the card in their pocket.

Extend’s virtual card platform comprises a number of offerings including the first virtual card platform-as-service, an answer to the competition issuers are seeing from alternative corporate card solutions. Complete with a ready-to-use, front-end experience, not only can issuers offer their customers a suite of features, but businesses can onboard with their existing credit cards.

Additionally, Extend offers a number of API solutions for banks and 3rd-party service providers. Banks can leverage these solutions to drive new product development with customers, one example being a BNPL solution on credit rails that Extend facilitated between a bank partner and an established lending company.

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Keywords: funding, startup, Mastercard, Visa, Issuer, virtual card
Categories: Banking & Fintech | Cards
Countries: United States
This article is part of category

Banking & Fintech