HIghnote Closes $90 Million Series B

SAN FRANCISCO &&num;8212&semi; Highnote, a specialist in modern card issuance and program management, announced the closing of &dollar;90 million in Series B funding and the launch of its acquiring solution&period; The funding was led by Adams Street Partners with participation from existing investors including Oak HC/FT, Costanoa, WestCap, and Pinegrove Venture Partners&period;&NewLine;&OpenCurlyDoubleQuote;Highnote’s transformational platform and impressive growth trajectory motivated us to lead this funding round,” said Robin Murray, Partner at Adams Street Partners&period; &OpenCurlyDoubleQuote;We are excited to support the company’s vision to lead innovation in embedded finance&period;”&NewLine;With the launch of its acquiring solution, Highnote now supports full pay-in and pay-out functionality for customers on the same platform as issuing, leveraging a unified, core general ledger, and resulting in unmatched cost and time-saving benefits&period; With Highnote’s modern embedded finance platform, enterprise customers and B2B platforms can manage all internal, vendor, and customer-facing financial transaction activity on a single, unified, reconciled payments platform&period;&NewLine;The API-based acquiring platform allows companies to accept card payments online via plug-in checkout software or custom features they design&period; Built by the team who developed Braintree, Highnote’s acquiring platform is directly integrated to the major payment networks – creating streamlined data access, transparency, and better economics for customers&period; With certification by all major US card brands, Highnote’s expansion into acquiring positions the company as a unique solution for SMBs and enterprises looking for a holistic approach to embedded payments&period;&NewLine;&OpenCurlyDoubleQuote;We are excited to partner with Adams Street in our next phase of growth and about our entrance into the acquiring space, which accelerates the expansion of our world-class embedded finance and issuing platform,” said John MacIlwaine, CEO of Highnote&period; &OpenCurlyDoubleQuote;The acquiring landscape has evolved over time and represents an opportunity for next generation customers to accelerate growth through embedded acquiring in addition to embedded issuing&period;”&NewLine;&OpenCurlyDoubleQuote;Acquiring on Highnote&&num;8217&semi;s unified platform is a game-changer for us,” said Vlad Sadovskiy, CEO of Netevia, a leading embedded finance company specializing in innovative payment solutions&period; &OpenCurlyDoubleQuote;Hyper-verticalized businesses that are adopting our B2B platforms need API driven, seamless integration of all payment scenarios&period; Highnote is radically reducing the friction and complexity for us to deliver that to an ever-broadening set of clients&period;”&NewLine;

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