Highnote, an embedded payments platform that helps businesses issue cards and run their programs, has secured $90 million in a Series B funding round led by Adams Street Partners. The round also saw participation from existing investors, including Oak HC/FT, Costanoa, WestCap, and Pinegrove Venture Partners. This investment reportedly raises the company’s valuation to more than $750 million, per a source cited by Forbes. Since its inception in 2020, Highnote has focused on enabling businesses to integrate virtual and physical card payments, ledger systems, and wallet functionalities into their offerings. With this latest funding, the company’s total capital raised to date exceeds $145 million, including $54 million from earlier funding rounds.
In addition to the funding announcement, Highnote introduced a new API-based acquiring solution designed to simplify online card payments. This customizable plug-in software allows businesses to accept card transactions seamlessly and is certified by all major U.S. card brands and payment networks. Highnote claims this development enhances its platform by providing unified pay-in and pay-out functionalities through a single core general ledger. Together with its existing card issuance capabilities, the company states that this unified platform will enable customers to manage financial transactions spanning internal operations, vendor interactions, and client transactions on one reconciled system.
