Co-Brand Credit Card Startup Cardless Raises $30 Million (1)

Co-branded credit card startup Cardless Inc. raised $30 million in an equity round led by Activant Capital with participation from new and existing investors including Mischief, the fund co-founded by the CEO of Plaid Inc.

The San Francisco-based private firm partners with companies including Qatar Airways, Alibaba Group Holding Ltd. and Simon Property Group Inc., operator of Simon Malls, to launch co-branded credit cards. Brands start credit card programs with the aim of building customer loyalty, driving higher spending and differentiating from competitors. Cardless promises a tech-forward, nimble card platform aiming to create a better consumer experience than those offered ...