News rebrands as Lithic after its Series B funding

Monday 24 May 2021 09:32 CET | News

Founded as in 2014, the newly rebranded card issuing platform, Lithic, has announced that it has raised USD 43 million in Series B funding.

The round was led by Bessemer Venture Partners with participation from Index Ventures, Tusk Venture Partners, Rainfall Ventures, Teamworthy Ventures, and Walkabout Ventures. The Lithic card issuing platform was released in 2020 under the brand, with the mission to make it simple for developers to programmatically create virtual and physical payment cards. 

In recognition of this opportunity, the company is rebranding to Lithic and using the new capital to double down on development of the card issuing platform., the consumer product, continues to be a virtual card service dedicated to making payments safer and easier online, and is now officially powered by the Lithic card issuing platform, as the press release states.

Lithic will use its fresh capital to expand the tools and technologies it offers to developers to issue and manage virtual cards, including enhancements for to continue serving its security-conscious customers. The company has raised a total of USD 61 million to date.

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Keywords: rebranding, funding, virtual card, Issuer
Categories: Banking & Fintech
Countries: United States
This article is part of category

Banking & Fintech