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Cardless

Also a provider — view Cardless’s profile →

“Can a co-branded credit card launch platform become the full-stack embedded credit OS for any brand or digital experience?”

Founded2019
HQSan Francisco, CA 94107, USA
FoundersMichael Spelfogel
Total raised$170M+
Latest roundSeries C, September 2025
IndustryInfrastructure / Card issuing
The story

Founded in 2019 (originally as Guild Technology), Cardless initially focused on helping sports franchises and consumer brands launch co-branded credit cards quickly. After its Series B in 2021, it broadened from sports/lifestyle brands to a full B2B2C embedded credit infrastructure play. By 2024, Cardless repositioned itself explicitly as an 'embedded credit card platform' with modular APIs and pre-built components, targeting any brand wanting to embed credit natively. In 2025, the company extended its platform into BNPL and broader lending products, signaling a move from card-launch vendor to a full embedded credit OS.

Last 12 months
2024-11
2025-09
2024-Q4
Product timeline
2019
Founded as Guild Technology; pivoted to co-branded credit card platform for consumer brands and sports franchises.· card
2021
Raised $40M Series B led by Activant Capital; expanded co-branded card programs to include sports team partners such as Phoenix Suns and Boston Celtics.· card
2024
Launched full embedded credit card platform with modular APIs and pre-built components; announced Coinbase as embedded credit partner.· card
2024
Raised $30M growth round with strategic backing from Amex Ventures; rebranded positioning as embedded credit infrastructure platform.· pivot
2025
Raised $60M Series C led by Spark Capital; projected $150M annualized revenue by Q2 2026; expanded into BNPL and broader lending products.· lending
The stack
3 layers disclosed in Cardless’s embedded-finance stack
Card issuing
Cardless (self-operated)
Lending
in the full report
KYC
in the full report
Accounting gap: none
4 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.