Imprint's management team. From left, front row: Wael ElSahhar, Alexandra Schwartz, Daragh Murphy and Kathleen Leonik. Back row: Mariana Coontz, Ruochen Ren and Sean Rowles. Image: Imprint
Imprint works with various brands to create credit card rewards programmes and claims to be well positioned to grow its business.
Branded payments provider Imprint has raised $75m in a Series B funding round to bolster its capital and reach new clients.
The funding round was led by Ribbit Capital which has been involved in various funding rounds over in recent years, backing companies such as Robinhood, Vivid Money and Plaid.
Imprint was founded in 2020 by Irishman Daragh Murphy and Gaurav Ahuja. Murphy studied law in UCD and was previously the VP of operations and strategy at workspace provider WeWork.
The US-headquartered company helps consumers to shop with their preferred brands and receive rewards. Imprint works with various brands to design, launch and manage co-branded credit card programmes.
Murphy said the latest funding round is a “milestone” for the company and that most of the new capital will be used to “fortify our balance sheet”. The start-up aims to grow its loan book and find new brands that are seeking a “new co-branded issuer”.
Imprint said it has experienced a year of high growth and launched new partnerships with H-E-B, Holiday Inn Club Vacations and Westgate Resorts.
“Our ambition is to build a technology-first financial institution that focuses on the needs of great brands and their customers,” CEO Murphy said in a blogpost. “We have intentionally built our platform with this in mind.
“We have developed a proprietary credit card ledger and core, a custom rewards platform, a machine-learning-based risk decision engine and a seamless cardholder experience. Our brand partners can easily incorporate all elements of our cardholder experience into their website or app to further compound the loyalty growth from their co-branded card programme.”
Towards the end of 2021, Imprint raised $38m in a Series A funding round led by VC firm Kleiner Perkins. Other investors in that funding round included Stripe and chat show host James Corden.
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