Total amount raised
$14 Millions
Latest funding date
Location
Card91 has successfully raised funding through multiple rounds, with notable investors such as Sabre Partners and EMVC backing the company. The platform offers a comprehensive suite of payment infrastructure solutions, including credit card issuance, prepaid payment instruments, and UPI integration.
Keep reading to explore the intricacies of Card91's fundraising journey and the investors supporting this innovative platform.
What Is Card91?
Card91, founded on August 1, 2020, is a fintech company based in Bengaluru, Karnataka, India. The company was established by Ajay Pandey, Kush Srivastava, and Vineet Saxena.
Operating in the banking, financial services, and software industries, Card91 specializes in providing plug-and-play payment infrastructure solutions. With an employee count ranging between 51-100, the company focuses on simplifying business payments and enabling new-age payment use cases through card issuance and management.
How Much Funding Has Card91 Raised?
- Pre-Seed Round
- Amount Raised: $1M
- Date: December 2020
- Lead Investors: EMVC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the core technology and infrastructure of Card91's platform.
- Seed Round
- Amount Raised: $13M
- Date: March 2022
- Lead Investors: Infinity Ventures, Point72 Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Card91's reach both within India and internationally, enhance its service offerings, and acquire new talent.
Total Amount Raised: $14M. Current Valuation: Not publicly disclosed.
Key Investors
- Infinity Ventures
- Details: Infinity Ventures is a venture capital firm that invests in early-stage technology companies. They focus on simplifying the card issuance process for startups, businesses, and banks.
- Investment Focus Areas: Payment infrastructure, card issuance, technology startups
- Notable Investments: Not publicly disclosed
- Point72 Ventures
- Details: Point72 Ventures is the venture capital arm of Point72 Asset Management. They focus on early-stage investments in financial technology, artificial intelligence, and enterprise technology.
- Investment Focus Areas: Financial technology, artificial intelligence, enterprise technology
- Notable Investments: Not publicly disclosed
- Sabre Partners
- Details: Sabre Partners is a private equity firm that invests in growth-stage companies, particularly in the financial services sector. They aim to disrupt the complex value chain of payments and modern card issuing.
- Investment Focus Areas: Financial services, payment value chain, modern card issuing
- Notable Investments: Not publicly disclosed
- EMVC (Emphasis Ventures)
- Details: EMVC is a venture capital firm that focuses on investing in early-stage FinTech companies. They aim to support innovative financial technology solutions.
- Investment Focus Areas: Early-stage FinTech companies
- Notable Investments: Not publicly disclosed
- Commerce Ventures
- Details: Commerce Ventures is a venture capital firm that invests in companies transforming commerce through technology. They support businesses that innovate in the commerce sector.
- Investment Focus Areas: Commerce technology
- Notable Investments: Not publicly disclosed
What's Next for Card91?
Card91 is poised to capitalize on the burgeoning demand for modern payment solutions. With a $13 million pre-Series A funding round, the company is set to expand its product offerings and reach more businesses across India and internationally. This financial backing provides a solid foundation for scaling operations and enhancing technology.
Future fundraising opportunities seem promising, given the successful pre-Series A round. As Card91 continues to grow, it may attract further investments to support its ambitious expansion plans. However, the company will need to navigate regulatory challenges and integrate with multiple players to launch card programs effectively.
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