Total amount raised
$54.5 Million
Latest funding date
9/1/2021
Location
Highnote has successfully raised funds through five rounds, with the latest being a Series B round. The company is backed by ten investors, including Westcap, Oak HC/FT, Adams Street Partners, and Omega Venture Partners.
Highnote offers a unified platform for embedded finance, enabling businesses to seamlessly integrate financial services into their products. Keep reading to explore the intricacies of Highnote's fundraising journey and the investors backing this innovative platform.
What Is Highnote?
Highnote is an embedded finance company based in San Francisco, California. It specializes in developing a virtual payment platform to handle payment processing business flows.
The company operates in various industries, including Credit Cards, FinTech, Information Technology, Payments, and Transaction Processing. Highnote has a workforce of 101-250 employees.
How Much Funding Has Highnote Raised?
- Seed Round
- Amount Raised: USD 11,500,000
- Date: October 2020
- Lead Investors: Oak HC/FT
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their virtual payment platform.
- Series A
- Amount Raised: USD 42,574,931
- Date: September 2021
- Lead Investors: Costanoa Ventures, Oak HC/FT
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance platform capabilities.
- Convertible Note
- Amount Raised: USD 25,000,000
- Date: December 2021
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing product development and market expansion.
- Convertible Note
- Amount Raised: USD 25,000,000
- Date: June 2022
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further accelerate growth and innovation in their platform.
- Series B
- Amount Raised: USD 108,999,947
- Date: January 2025
- Lead Investors: Adams Street Partners, Omega Venture Partners
- Valuation at Round: Over USD 750,000,000
- Motivation Behind the Round: To support the expansion into U.S. merchant acquiring and enhance their embedded finance platform.
Total amount raised: USD 233,074,878. Current valuation: Over USD 750,000,000.
Key Investors
- Adams Street Partners
- Details: Adams Street Partners is a global private markets investment manager with investments in more than 30 countries across five continents. The firm is 100% employee-owned and manages $60 billion in assets.
- Investment Focus Areas: Private equity, venture capital, growth equity, private credit.
- Notable Investments: Not publicly disclosed.
- Oak HC/FT
- Details: Oak HC/FT is a venture and growth equity firm investing in healthcare and financial technology. They have a strong track record in supporting innovative companies in these sectors.
- Investment Focus Areas: Healthcare, financial technology.
- Notable Investments: Not publicly disclosed.
- Costanoa Ventures
- Details: Costanoa Ventures is a venture capital firm that invests in early-stage technology companies. They focus on providing support to startups that are solving complex problems.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Not publicly disclosed.
- WestCap
- Details: WestCap is a growth equity firm that invests in technology-driven companies. They aim to partner with visionary entrepreneurs to build market-leading businesses.
- Investment Focus Areas: Technology-driven companies, growth equity, venture capital.
- Notable Investments: Not publicly disclosed.
- Pinegrove Venture Partners
- Details: Pinegrove Venture Partners is a venture capital firm that invests in early-stage companies. They focus on identifying and nurturing high-potential startups.
- Investment Focus Areas: Early-stage companies.
- Notable Investments: Not publicly disclosed.
What's Next for Highnote?
Highnote's expansion into U.S. merchant acquiring presents a significant opportunity. By offering a unified platform that handles both issuing and acquiring, the company can attract enterprise customers and B2B platforms seeking comprehensive embedded finance solutions. This move is supported by a robust $90 million Series B funding round, indicating strong financial backing and growth potential.
Future fundraising opportunities appear promising as Highnote continues to innovate and expand its offerings. The successful Series B round suggests that additional funding rounds could be on the horizon, potentially accompanied by strategic partnerships to further enhance their platform. However, the company will need to navigate challenges such as competition from other fintech providers and maintaining high standards of service and compliance.
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