San Francisco based virtual payment card enablement startup raised $54m in Seed and Series A funding led by Oak HC/FT.
“There is an incredible opportunity today to design a platform built for purpose, to fill the need for embedded finance, and to allow businesses to move more quickly,” said John Macllwaine, the ex-GM of PayPal subsidiary Braintree, who co-founded Highnote with Kin Kee, Braintree’s former director of architecture. “Marqeta is doing a great job illuminating the opportunities, but the platforms was built 10 years ago and it was designed for a certain use case. They are where they are,” he concluded with a small shrug. ¯_(ツ)_/¯