Highnote secures USD 90 million in Series B funding round

As part of its latest announcement, Highnote, a card issuance and programme management company, revealed that it received USD 90 million in a Series B funding round, as well as launched an acquiring solution for its users. Led by Adams Street Partners, the funding round also saw participation from existing investors, including Oak HC/FT, Costanoa, WestCap, and Pinegrove Venture Partners. Adams Street Partners’ decision to lead the funding round can be attributed to Highnote’s capabilities and growth trajectory, with the investor now aiming to support the company in its development strategy and in advancing Embedded Finance.

Highnote’s acquiring solution

By introducing the acquiring solution, Highnote intends to support pay-in and pay-out capabilities for customers on the same platform as issuing, utilising a unified, core general ledger, and resulting in cost and time-saving opportunities. Through Highnote’s Embedded Finance platform, enterprise customers and B2B platforms are set to be able to manage all internal, vendor, and customer-facing financial transaction activity on a single, unified, reconciled payment platform.

Furthermore, Highnote’s API-based acquiring platform enables companies to accept card payments online through plug-in checkout software or custom features they develop. Additionally, the company’s acquiring platform is directly integrated into several payment networks, in turn creating simplified data access, transparency, and improved economics for customers. Holding certification from all major US card brands, Highnote’s entry into acquiring solidifies the company’s position in the industry and delivers a solution that focuses on meeting the needs of small and medium-sized enterprises (SMEs) and businesses looking for a complete approach to Embedded Payments.

Securing the USD 90 million funding and completing its unified issuing and acquiring platform is set to allow Highnote to serve demanding use cases in Embedded Finance, including vertical solution providers, enterprise brands, marketplaces, and financial institutions.