Highnote Secures $90M in Series B Funding to Transform U.S. Merchant Acquiring Landscape

Highnote Secures $90M in Series B Funding to Transform U.S. Merchant Acquiring Landscape

Highnote, a leader in innovative financial technology solutions, has announced its successful closure of a $90 million Series B funding round, alongside the launch of a new merchant acquiring solution. This significant financing was led by Adams Street Partners and included contributions from notable investors like Oak HC/FT, Costanoa, WestCap, and Pinegrove Venture Partners.

Expansion of Highnote’s Merchant Acquiring Capabilities

Highnote is recognized for its modern platform that integrates card issuing and acquiring functionalities. This dual capability enables the company to provide comprehensive pay-in and pay-out solutions, all managed via a single, unified core general ledger. This innovative approach leads to enhanced efficiency and significant cost savings for users.

New Features of the Acquiring Solution

The introduction of its merchant acquiring solution allows Highnote to accept card payments online, utilizing either:

  • Plug-in checkout systems
  • Bespoke solutions tailored to specific business needs

This latest addition complements Highnote’s embedded finance platform, known for its smooth integration with major payment networks, ensuring transparency and improved economics for its users.

Strategic Growth Plans with New Funding

The recent funding will be directed towards expanding Highnote’s presence in the embedded finance market, particularly enhancing its acquiring services. This initiative is designed to accelerate growth and broaden its market reach in the United States, providing a holistic approach to embedded payments suitable for both small and large enterprises.

Insights from Highnote’s Leadership

John MacIlwaine, CEO of Highnote, commented on the strategic significance of integrating acquiring services into their platform, stating that this move is crucial to enhancing their comprehensive offerings in embedded finance and card issuing.

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Robin Murray, a Partner at Adams Street Partners, expressed enthusiasm about the investment, highlighting, “Highnote’s transformational platform and impressive growth trajectory motivated us to lead this funding round. We are excited to support the company’s vision to lead innovation in embedded finance.”

For more information about Highnote and its innovative financial solutions, visit their official website at Highnote.

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