Highnote, an embedded payments platform specialising in card issuance and programme management for businesses, has raised $90 million in a Series B funding round led by Adams Street Partners. The round was supported by existing investors Oak HC/FT, Costanoa, WestCap, and Pinegrove Venture Partners, and reportedly brings Highnote’s company valuation to over $750 million, a source close to the transaction told Forbes. Highnote, based in San Francisco, US, made its market debut back in 2020 with an embedded payments platform built to enable companies to embed virtual and physical card payments, ledger, and wallet functionalities into their products. The company has now raised more than $145 million to date, including $54 million in combined seed and Series A funding. Alongside the fresh funding, the start-up has also announced the launch of a new acquiring solution. This API-based offering will provide customisable plug-in checkout software to enable companies to accept online card payments, and has been certified by all major US card brands and payment networks. In a statement on the launch, Highnote says it now supports “full pay-in and pay-out functionality for customers on the same platform as issuing, leveraging a unified, core general ledger”. Together with its existing issuing solution, the launch will allow customers to “manage all internal, vendor, and customer-facing financial transaction activity on a single, unified, reconciled payments platform”, the company adds.

Embedded payments platform Highnote lands $90m Series B, debuts new acquiring solution

Highnote, a San Francisco-based embedded payments platform, secured $90 million in Series B funding led by Adams Street Partners. The funding round included participation from existing investors such as Oak HC/FT, Costanoa, WestCap, and Pinegrove Venture Partners. Highnote's valuation surpassed $750 million post-funding. The company launched a new acquiring solution, allowing companies to accept online card payments through customizable checkout software certified by major US card brands and payment networks. Highnote has raised over $145 million to date, including $54 million in seed and Series A funding.