Highnote builds a unified embedded payments platform that combines card issuing, program management, ledger, wallet, and now acquiring capabilities. Its API-based platform allows customers to issue virtual and physical cards and accept card payments online via plug-in checkout or custom integrations, with direct integration to major payment networks. The platform uses a single core general ledger to provide reconciled pay-in and pay-out functionality for enterprise customers, B2B platforms, SMBs, marketplaces, and financial institutions. Highnote’s acquiring launch expands its product from issuing to full merchant acquiring in the U.S., with certification by major U.S. card brands. The company closed a $90 million Series B led by Adams Street Partners and has raised more than $145 million in total. Built by the team who developed Braintree, Highnote emphasizes transparency, better economics, and reduced friction for embedded finance use cases. Highnote is headquartered in San Francisco, California. Highnote builds a card-issuing platform that lets companies provision virtual, physical, and tokenized payment cards and embed finance through APIs. The company was founded by PayPal/Braintree alums John Macllwaine and Kin Kee and emerged from stealth while announcing $54 million in funding. Highnote enables businesses of any size to offer branded payment cards, let customers open bank accounts, and monitor and manage card usage and spend across their networks. It positions itself against incumbents like Marqeta by promising faster provisioning, greater product flexibility, and more control and data for brands. Over time the company expects to expand point-of-sale services that could include buy-now-pay-later and other credit features. Investors cited the founding team’s payments experience and the market opportunity in embedded finance when backing the company.

Total raised

$144M

Funding rounds

3

Latest round

Series B

Latest activity

Jan 2025