HIghnote Closes $90 Million Series B

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; Highnote&comma; a specialist in modern card issuance and program management&comma; 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&sol;FT&comma; Costanoa&comma; WestCap&comma; and Pinegrove Venture Partners&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Highnote’s transformational platform and impressive growth trajectory motivated us to lead this funding round&comma;” said Robin Murray&comma; Partner at Adams Street Partners&period; &OpenCurlyDoubleQuote;We are excited to support the company’s vision to lead innovation in embedded finance&period;”<&sol;p>&NewLine;<p>With the launch of its acquiring solution&comma; Highnote now supports full pay-in and pay-out functionality for customers on the same platform as issuing&comma; leveraging a unified&comma; core general ledger&comma; and resulting in unmatched cost and time-saving benefits&period; With Highnote’s modern embedded finance platform&comma; enterprise customers and B2B platforms can manage all internal&comma; vendor&comma; and customer-facing financial transaction activity on a single&comma; unified&comma; reconciled payments platform&period;<&sol;p>&NewLine;<p>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&comma; Highnote’s acquiring platform is directly integrated to the major payment networks – creating streamlined data access&comma; transparency&comma; and better economics for customers&period; With certification by all major US card brands&comma; 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;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;We are excited to partner with Adams Street in our next phase of growth and about our entrance into the acquiring space&comma; which accelerates the expansion of our world-class embedded finance and issuing platform&comma;” said John MacIlwaine&comma; 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;”<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Acquiring on Highnote&&num;8217&semi;s unified platform is a game-changer for us&comma;” said Vlad Sadovskiy&comma; CEO of Netevia&comma; a leading embedded finance company specializing in innovative payment solutions&period; &OpenCurlyDoubleQuote;Hyper-verticalized businesses that are adopting our B2B platforms need API driven&comma; 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;”<&sol;p>&NewLine;