Coinbase Partner Cardless Raises $60 Million in Growth Push

Cardless, a co-brand credit-card startup, has raised $60 million in venture funding to expand its offerings and strengthen partnerships with well-known clients. The company aims to gain a more substantial presence in the credit card industry, which is still predominantly controlled by traditional banks. The funding round was led by Activant Capital, with participation from existing investors, including Greycroft, Accomplice, and Clocktower Technology Ventures. Cardless plans to use the new capital to develop additional features and create more programs with established brands, as it seeks to differentiate itself in the highly competitive credit card market. The startup, which is a partner of the cryptocurrency exchange Coinbase, provides co-branded credit cards that allow businesses to offer customized rewards and benefits to their customers. By securing this latest round of funding, Cardless hopes to solidify its position and challenge the dominance of traditional financial institutions in the credit card space.