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Privacy.com raises USD 10.2 mln to help businesses create virtual payment cards

Thursday 16 July 2020 10:16 CET | News

Virtual card platform Privacy.com has announced raising USD 10.2 million in a Series A funding. 

According to the press release, the round was led by Teamworthy Ventures with participation from Tusk Venture Partners, Index Ventures, Quiet Capital, Exor Seeds, and Rainfall Ventures.

The new funding will fuel the expansion of the Privacy's Card Issuing API, a service designed for businesses of all sizes to issue and manage virtual and physical cards for all their payment needs, including procurement, expense reimbursement, disbursement automation, on-demand services, digital banking, agency services, and more.

By lowering the hurdles to issuing cards, Privacy's Card Issuing API has enabled businesses to create new payments-enabled business models in a diverse set of industries ranging from digital advertising to insurance. 

Moreover, Privacy's Card Issuing API has been in beta testing for over a year and over a hundred developers have already adopted the programme and transaction volumes have grown ten-fold. In launching its API, Privacy aims to make card issuing convenient for businesses. Over the past 3 years, Privacy.com has issued over 5 million cards. 

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Keywords: Virtual card, Privacy.com, funding round, Teamworthy Ventures, Tusk Venture Partners, Index Ventures, Quiet Capital, Exor Seeds, Rainfall Ventures, API, cards
Categories: Payments & Commerce | Cards
Countries: World
This article is part of category

Payments & Commerce