Imprint Secures $150M to Reinvent Co-Brand Credit Cards

Imprint, a financial platform transforming the way brands engage, reward, and retain customers, announced yesterday, December 17, that it has concluded a Series D funding round with $150 million raised. The company has reached the valuation of $1.2 billion, and it plans to use the funds to transform co-brand cards into a true loyalty platform.

The round was highly successful, and it was led by Khosla Ventures. However, it also saw meaningful participation from a number of other participants, including Thrive Capital, Kleiner Perkins, Spice Capital, Ribbit Capital, Hedosophia, and Timeless.

Commenting on the decision to support the firm, Khosla Ventures’ Managing Director, Keith Rabois, said that Imprint’s technology advantage enables them to execute with a level of speed and customization that legacy issuers are unable to match.

The firm’s announcement said that the new round of financing follows a period of rapid growth for Imprint, as leading brands are turning more and more to the company on their quest to replace legacy bank-issued programs, and deliver modern embedded loyalty experiences that delight their users, and drive meaningful increases in customer value.

A Major Milestone That Follows Imprint’s Rapid Growth

The company’s announcement has noted that it has seen rapid growth, which highlights strong customer adoption and capital markets validation. It highlighted 200% cardholder base growth on a year-over-year basis, the launch of new partnerships with Rakuten, Fetch, Booking.com, and Crate & Barrel, as well as achieving a AAA investment rating from Fitch Ratings for the inaugural $300 million securitization.

Imprint’s co-founder and CEO, Daragh Murphy, commented on the successful Series D, saying that brands today face pressure to earn customer loyalty through authentic and genuinely rewarding experiences.

“This milestone underscores how our team is delivering on our mission to build the best way to pay at the brands customers love. With this new capital, we are accelerating the evolution of co-brand from a bank product into a complete brand loyalty platform,” Murphy noted.

Imprint’s vision for the next three years is to become the platform that powers premium access for the customers of leading brands. Its approach combines financial products, a network of brand-funded rewards, and loyalty infrastructure. Combined, this will create a unified customer journey from application to spend, earn, redeem, and repeat.

Khosla Ventures’ Managing Director, Keith Rabois, said that Imprint’s technology lets them execute with a level of speed and customization that legacy issuers cannot match. He also added, “They have quickly become the partner of choice for major enterprises, and that momentum is why we are thrilled to double down.”