Imprint, a New York-based fintech that provides co-branded credit cards for some of the world’s most popular consumer brands, has today announced US$75m in Series B funding.
The equity funding is led by Ribbit Capital with “significant participation” from Thrive Capital, Kleiner Perkins, and Moore Specialty Credit. The funding will predominantly be used to scale the company’s existing co-branded card programmes and launch new ones, and comes at a time of growth for the card issuer.
In a market ripe for disruption – but one that, for a long time, has been dominated by big banks – Imprint has grown rapidly since its launch in 2020. It partners with some of the world’s biggest brands, including resort operators like Holiday Inn Club Vacations and Westgate Resorts.
After focusing initially on the grocery and travel segments, it will expand into new verticals over the next six months, allowing brands to launch customisable rewards programmes that help them to grow brand loyalty and increase average spend.
Imprint ‘the clear leader’ in co-branded credit cards
"Imprint is the modern alternative to legacy banks in the co-branded credit card market,” explains CEO and Co-Founder Daragh Murphy. “We are proud to help great brands create deeper relationships with their customers and drive more customer loyalty.
“This additional funding further strengthens our balance sheet and empowers us to continue to scale our existing programmes and launch new programmes with the world’s great brands. We remain focused on disciplined growth and are excited to continue to serve our brand partners and their customers with a premium co-branded experience."
Speaking with FinTech Magazine at the start of the year, Murphy predicted that, this year, "retailers will need to quickly implement digital-first programmes that offer more personalised and relevant rewards"; the company's latest funding announcement will certainly help brands to do just that.
Nick Huber, General Partner at Ribbit Capital, continues: “Imprint is the clear leader for modern co-branded credit cards. Daragh and the seasoned leadership team he has recruited have built a platform that is winning in the traditional co-branded credit card market and delivering real value to brands and customers alike. We're excited to continue to support Imprint as they scale their business and transform the way brands engage with their customers.”
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