QuantLogix Private Company Profile

← Back to list

Cardless

Embedded co-branded credit card platform for consumer brands
Fintech 📍 San Francisco, CA Founded 2019
Current Valuation
Private
PRIVATE
Cardless builds end-to-end credit card programs for consumer brands and crypto platforms, packaging the issuer relationship, rewards engine, and customer experience into a turnkey offering. The company powers card products for Coinbase and Bilt-style ecosystems and raised a $60M Series C in late 2025 to expand its client base. Cardless positions itself as the next-generation alternative to legacy card-banks-plus-processors stacks like those built on Marqeta and Galileo.

Company Profile

CEO
Michael Spelfogel
Founded
2019
HQ
San Francisco, CA
Employees
~100
Total Raised
$130M
Est. Revenue
$15M (2025)
Growth
Series C growth-stage
Last Round
Series C — $60M (Sep 2025) · Lead: Activant Capital
IPO Status
private

Founders & Key People

Michael SpelfogelScott Kazmierowicz

Investors

Activant Capital · Industry Ventures · Underscore VC · Pear VC

Products

  • Co-branded credit card programs
  • Rewards engine
  • Issuer-processor stack
  • Coinbase card
  • Bilt-style ecosystem cards

Competitors

Marqeta · Stripe Issuing · Galileo · Lithic · Highnote
FintechCard IssuingB2BCo-Branded Cards
Private-company numbers are not real-time. Reflects publicly disclosed valuations from press releases, news reports, and tender offers as of recent date. Refreshed quarterly.