Overview

Lithic provides a platform for businesses to create and manage their own credit, debit, or prepaid card products. The platform allows companies to issue both virtual and physical cards, manage digital wallets, handle disputes, and set dynamic spending controls. Lithic operates with direct card network integrations and a native core system, which simplifies the implementation process and reduces the need for third-party services. This approach gives businesses more control over their banking relationships and financial operations as they grow. Lithic also offers a PCI-compliant solution to safeguard customer data and flexible KYC and KYB modules that can be easily integrated into existing systems. The company generates revenue by charging businesses for its services, likely based on the volume of cards issued and transactions processed. Lithic's goal is to empower businesses with scalable and efficient card management solutions.

Simplify's Take

What believers are saying

• Increased demand for virtual cards boosts Lithic's customer base.
• Growing interest in embedded finance aligns with Lithic's platform capabilities.
• Expansion of digital wallets enhances Lithic's digital wallet control features.

What critics are saying

• Increased competition could erode Lithic's market share.
• Changes in network policies may impact Lithic's cost structure.
• New regulatory requirements could increase operational costs for Lithic.

What makes Lithic unique

• Lithic offers direct card network integrations, reducing reliance on third-party providers.
• The company provides a PCI-compliant iFrame solution to protect customer information.
• Lithic's flexible KYC/KYB modules integrate seamlessly with existing setups.

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Funding

Total Funding

$158.9M

Above

Industry Average

Funded Over

4 Rounds

Notable Investors:

Bessemer Venture Partners

Notable Investors:

Bessemer Venture Partners

$60,000,000

Series C

Jul 2021

Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.

Series C Funding Comparison

Above Average

Industry standards

Ind Avg. $50M

$16M

$40M

$50M

$60M

$62M

$100M

View all funding stages