# Cardless

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cardless

- Industry: Financial Services
- Headquarters: San Francisco, US
- Website: www.cardless.com
- Total disclosed funding: $108M
- Latest round: Series C (Aug 1, 2025)
- Investors on record: 10

## About

Cardless, Inc. is a US-based embedded credit card platform that provides businesses with innovative solutions to integrate credit card offerings directly into their applications and websites, enhancing customer engagement and retention. Founded in 2019 and headquartered in San Francisco, US, Cardless, Inc. specializes in embedded credit solutions. The company was co-founded by Michael Spelfogel and Scott Kazmierowicz, the latter currently serving as CEO. Cardless has successfully completed 7 funding deals, with the latest raised on November 26, 2024, totaling USD 25.000 mn from investors including Activant Capital, American Express Ventures, and others. The total amount raised by the company is USD 25.000 mn, leading to a current company valuation of USD 76.645 mn. Cardless provides an embedded credit card platform that simplifies the integration of credit card offerings for businesses. The main product includes a dynamic apply button that allows customers to apply for credit cards through a streamlined pre-built form, granting them immediate access to digital cards. The platform is utilized across various industries, including airlines and retail, enhancing customer acquisition through personalized campaigns and rewards while ensuring compliance with security standards.Cardless earns revenue through B2B partnerships, where businesses integrate its credit card solutions. The revenue model includes subscription fees for access to services and revenue sharing from transaction fees as customers utilize their cards. Their platform enables real-time data analytics, improving approval rates and fostering customer loyalty, which can lead to increased transaction volumes for both Cardless and its clients. In August 2025, Cardless, Inc. raised USD 60 million in series C funding led by new investor Spark Capital, with participation from returning investors Activant Capital, Industry Ventures, Accomplice, and Pear VC.

## Funding rounds

- Series C, Aug 1, 2025, $60M — Industry Ventures, Spark Capital, Activant Capital, Pear VC, Accomplice
- Series B, Apr 7, 2021, $38M — Activant Capital, Pear VC, Accomplice, Boston Celtics Incorporated, Turner Digital Basketball Services, Inc.
- Series A, Jun 1, 2020, $7M — Greycroft, Pear VC, Accomplice
- Seed, Oct 1, 2019, $2.8M — Greycroft, Great Oaks Venture Capital, Pear VC, Clocktower Technology Ventures

## Investors

- Greycroft (https://capitalatlas.ai/funds/greycroft) — Seed, Series A
- Great Oaks Venture Capital (https://capitalatlas.ai/funds/great-oaks-venture-capital) — Seed
- Pear VC (https://capitalatlas.ai/funds/pear-vc) — Seed, Series A, Series B, Series C
- Clocktower Technology Ventures (https://capitalatlas.ai/funds/clocktower-technology-ventures) — Seed
- Accomplice (https://capitalatlas.ai/funds/accomplice) — Series A, Series B, Series C
- Activant Capital (https://capitalatlas.ai/funds/activant-capital) — Series B, Series C
- Boston Celtics Incorporated — Series B
- Turner Digital Basketball Services, Inc. — Series B
- Industry Ventures (https://capitalatlas.ai/funds/industry-ventures) — Series C
- Spark Capital — Series C