Extend financing led by Point72 Ventures and FinTech Collective
Extend has announced its US$11m Series A financing. Extend’s platform enables frictionless virtual credit card issuance for corporations, banks, and other start-ups. The round was led by Point72 Ventures and FinTech Collective, with additional participation from Reciprocal Ventures and strategic partner City National Bank.
Extend’s platform offers a simple, secure virtual card payment option for the US gig economy. Having integrated with both Mastercard and Visa, and already partnered with a half dozen strategic banks, Extend will use the funds to launch features for its app and open APIs, accelerate bank partnerships, and recruit talent across engineering, marketing, and operations.
Extend partners with card issuers so they can deliver advanced virtual card capabilities to their clients. This allows banks to accelerate innovation and meet client needs. With Extend, businesses can instantly send virtual credit cards to anyone, each with a unique spending limit and validity period, taking control of spend, gaining visibility, and earning rewards.