# Episode Six

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/episode-six

- Industry: Financial Services
- Headquarters: Austin, US
- Website: www.episodesix.com
- Total disclosed funding: $77M
- Latest round: Series C (Apr 28, 2023)
- Investors on record: 5

## About

Episode Six Limited, based in the US, is a modern card issuing platform that provides a range of financial services aimed at enhancing spending management for banks and fintech companies.Founded in 2015, Episode Six Limited operates as a card issuing platform that allows financial institutions to integrate custom financial solutions into their services. The company is headquartered in Austin, US. The leadership team includes CEO John Mitchell, who has a background in fintech. Episode Six has successfully completed a total of 5 deals, with the most recent funding round occurring on 5 March 2025, where it raised USD 40.00 mn in a SERIES C funding led by Avenir Growth Capital alongside investors Anthos Capital. The total amount raised by the company stands at USD 40.00 mn with a current valuation of USD 258.227 mn.Episode Six offers a comprehensive suite of financial services including prepaid cards, debit cards, credit cards, and commercial cards, along with innovative solutions like virtual accounts and installment loans. Their platform allows banks, fintechs, and digital lenders to embed these services, creating tailored offerings such as buy-now-pay-later solutions. The company serves a global customer base, particularly in North America, Europe, and Asia, facilitating varied financial transactions.Episode Six generates revenue through a structured transaction model, including partnerships and subscriptions with various financial institutions. Their product offerings, such as issuer processing for credit and debit cards, typically involve transaction fees based on usage. For instance, banks utilizing Episode Six’s platform for prepaid cards incur fees per card issued and transaction processed. This model extends to services like ledger management and installment loans, allowing financial entities to pay for essential technology and support, thereby establishing a dynamic pricing strategy in the competitive fintech landscape.In March 2025, Episode Six Limited secured funding from Japan Airlines aimed at bolstering financial services and expanding payment solutions. The investment focuses on enhancing customer experience and fostering mutual growth, laying the groundwork for the company’s strategy to explore new market opportunities and launch additional products. Plans are underway to diversify offerings and expand into new geographic regions, although specific markets and timelines have not been disclosed.

## Funding rounds

- Series C, Apr 28, 2023, $40M — Anthos Capital, Avenir Growth Capital
- Series B, Feb 23, 2021, $30M — HSBC Group, Anthos Capital, SBI Investment, Mastercard Incorporated
- Series A, Jul 21, 2020, $7M — HSBC Group, SBI Investment, Mastercard Incorporated

## Investors

- HSBC Group — Series A, Series B
- SBI Investment (https://capitalatlas.ai/funds/sbi-investment) — Series A, Series B
- Mastercard Incorporated — Series A, Series B
- Anthos Capital (https://capitalatlas.ai/funds/anthos-capital) — Series B, Series C
- Avenir Growth Capital (https://capitalatlas.ai/funds/avenir-growth-capital) — Series C