New York-based Imprint, which enables big brands rapidly issue co-branded credit-cards, has raised $75 million in a Series B led by Palo Alto, Calif-headquartered Ribbit Capital. Other participants include Thrive Capital, Kleiner Perkins, and Moore Specialty Credit.
The three-year-old startup has previously raised more than $52 million from investors such as payments processor Stripe, former Goldman Sachs CEO Lloyd Blankfein, Affirm, Allen & Co., and Late Show host James Corden.
Momentum on Its Side
“Imprint is the modern alternative to legacy banks in the co-branded credit card market,” said Imprint co-founder and CEO Daragh Murphy, alluding to traditional banks’ perceived slower embrace of technology. The additional funding “further strengthens our balance sheet and empowers us to continue to scale our existing programs and launch new programs with the world’s great brands,” added Murphy, a former McKinsey executive and corporate lawyer.
Murphy, Thrive Capital partner Gaurav Ahuja, who serves as the startup’s chairman, and Michael Pechman, a former Thrive Capital director who has worked at Google and McKinsey, co-founded Imprint in 2020. In an early push into travel and grocery sectors, Imprint has helped brands such as Holiday Inn Club Vacations, Westgate Resorts and H-E-B, issue co-branded credit cards. In 2020, Imprint has grown 20x so far, Ahuja said in a recent LinkedIn post.
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“Imprint is the clear leader for modern co-branded credit cards,” said Nick Huber, general partner at Ribbit Capital. “Daragh and the seasoned leadership team he has recruited have built a platform that is winning in the traditional co-branded credit card market and delivering real value to brands and customers alike.”
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Speed Is of The Essence
Imprint touts its digital cardholder experience and technology stack that can deliver bespoke programs and customized rewards. It leverages the technology and its other expertise to launch co-branded cards in as little as three months — reportedly six times faster than traditional banks. It also provisions a digital card compatible with mobile wallets that can be used immediately.
Over the next six months, Imprint plans to target multiple new verticals, adding to its partnerships with grocery and travel firms.