Highnote Secures $90M Series B Funding and Launches Unified Acquiring Solution

Highnote, a leading card issuance and program management company, has successfully closed a $90 million Series B funding round, propelling its mission to innovate in embedded finance. The funding was led by Adams Street Partners, with participation from existing investors including Oak HC/FT, Costanoa, WestCap, and Pinegrove Venture Partners.

With the fresh capital, Highnote has unveiled its acquiring solution, a groundbreaking expansion that supports seamless pay-in and pay-out functionality on the same platform as card issuing. This innovative approach leverages a unified core general ledger, delivering unparalleled cost and time-saving advantages for businesses.

“The acquiring landscape has evolved, creating opportunities for next-generation customers to achieve growth through embedded acquiring alongside embedded issuing,” said John MacIlwaine, CEO of Highnote. “We are excited to partner with Adams Street in this next phase of growth and to bring a comprehensive solution to our customers.”

The acquiring platform, which features an API-driven design, enables businesses to accept online card payments via plug-in checkout solutions or customizable features. Built by the team behind Braintree, Highnote’s platform integrates directly with major payment networks, ensuring streamlined data access, increased transparency, and improved economics. Certified by all major US card brands, the solution caters to SMBs and enterprises seeking an all-in-one embedded payments platform.

Robin Murray, Partner at Adams Street Partners, commented on the company’s potential: “Highnote’s transformational platform and remarkable growth trajectory made us eager to lead this funding round. We are thrilled to support their vision of pioneering embedded finance innovation.”

By combining its issuing and acquiring capabilities on a unified platform, Highnote is uniquely positioned to meet the needs of enterprise brands, financial institutions, and vertical solution providers. Its platform is designed to address complex financial use cases, enabling businesses to manage internal, vendor, and customer-facing transactions efficiently.

With its robust embedded finance and issuing platform, Highnote aims to accelerate growth for businesses, offering a scalable and differentiated solution in an increasingly competitive financial landscape.