Payments Fintech Highnote Raises $54m in Series A Funding

Fazzaco learned that Highnote, a payments Fintech, has raised $54 million in a Series A Funding round, which was led by Oak HC/FT and Oak and Costanoa Ventures with participation from XYZ, WestCap and SVB Capital.

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The funding will be used to grow Highnote's product and engineering teams as it continues to build out its platform to include instant credit issuance and full stack acquiring.

Highnote claims its clients can launch virtual card programs in weeks, rather than months.

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​Highnote was founded by John Macllwaine, a former general manager at PayPal's mobile payments subsidiary Braintree, and Kin Kee, former director of architecture at Braintree.