Highnote has recently announced the closure of a $90m Series B coupled with the launch of its new merchant acquiring solution.

The financing was spearheaded by Adams Street Partners and saw contributions from existing backers such as Oak HC/FT, Costanoa, WestCap, and Pinegrove Venture Partners.

The company, known for its innovative financial technology solutions, operates a modern platform that offers both card issuing and acquiring capabilities. This dual-functionality allows Highnote to offer comprehensive pay-in and pay-out features, all managed through a single, unified core general ledger, delivering unparalleled efficiency and cost reductions.

With the introduction of its acquiring solution, Highnote is expanding its capabilities to include accepting card payments online, either through plug-in checkout systems or bespoke solutions tailored to specific needs. This advancement builds on the company’s already robust embedded finance platform, known for its seamless integration with major payment networks, ensuring transparency and improved economics for users.

The new funds will be utilized to expand Highnote’s footprint in the embedded finance market, particularly by enhancing its acquiring services. This move is aimed at accelerating growth and expanding its market presence in the United States, offering a holistic approach to embedded payments that cater to both small businesses and large enterprises.

Additional insights into the strategic development were highlighted by John MacIlwaine, CEO of Highnote, who emphasized the transformative potential of integrating acquiring services on their platform. He noted that this expansion into acquiring is a strategic move to enhance their already comprehensive embedded finance and issuing platform.

“Highnote’s transformational platform and impressive growth trajectory motivated us to lead this funding round,” Robin Murray, Partner at Adams Street Partners said. “We are excited to support the company’s vision to lead innovation in embedded finance.”