Lithic Raises $60M Series C Financing

July 28, 2021

Gunderson Dettmer represented client Lithic, a New York-based financial technology startup, in its $60 million Series C funding led by Stripes. The new capital will help the Lithic team scale and meet the demand for its developer platform, as well as expand the platform through strategic acquisitions to enhance the product and its core offerings.

In the announcement of the transaction, CEO and cofounder of Lithic Bo Jiang said, "Since launching the Lithic brand only 2 months ago, the demand for our API platform has only continued to grow. Card issuing is undergoing a renaissance similar to what card acquiring underwent a decade ago. By building accessible infrastructure and lowering the barrier to entry for developers and startups to create credit and debit cards, we're helping the next generation of companies to launch new financial services products faster and more cost effectively."

The Gunderson deal team was led by Melissa Marks and included Rafael Bellaver.