Fintech startup raises $21M
Brent: Credit cards are pretty uniform in size, but their terms and associated partnerships and incentives vary dramatically. And an Austin fintech startup is making its mark on the industry.
Concerto has a platform to support creation and management of branded credit card programs, with an early emphasis on baseball, including partnerships with the Texas Rangers, Los Angeles Angels, Baltimore Orioles and Cincinnati Reds. Those team-issued cards give fans access to game tickets and other team goodies.
Now it's opening its next chapter up with $21M in new funding led by San Francisco-based Matrix Partners. Others in on the round included PayPal Ventures and GoldenTree Asset Management, which is also funding $2B worth of credit card receivables.
Concerto is led by co-founder and CEO Daniel Duncan, who worked at Chase and Citibank before launching Austin Logistics and being CEO of Credit Shop Inc.
“Concerto has aggressive plans to deploy our platform across a wide range of markets, where great credit card loyalty programs make sense for our partners and their customers," he stated.
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