Trinity Capital Inc., a leading alternative asset manager, today announced the commitment of $15 million in growth capital to Kard Financial Inc., a commerce media network that helps fintechs and financial institutions drive usage, loyalty and engagement through merchant-specific rewards.  

Kard powers next-generation rewards programs through a flexible, API-first platform that enables financial institutions, fintechs, and loyalty programs to build deeply customized rewards ecosystems. By partnering with leading institutions across the U.S., Kard now reaches tens of millions of consumers and processes over $10 billion in transactions each month. Using proprietary first-party transaction data, Kard delivers AI-driven, hyper-personalized rewards that drive measurable, incremental growth for merchants and differentiated reward experiences that strengthen loyalty for issuers. Kard connects issuers, merchants, and consumers by helping banks and fintechs deliver differentiated rewards that build loyalty, while giving merchants a scalable way to drive measurable customer acquisition and engagement.

"Kard's approach to loyalty programs modernizes outdated systems and creates greater accessibility across the entire ecosystem," said Phil Gager, Senior Managing Director of Tech Lending at Trinity Capital. "We are excited to partner with their team as they continue to innovate within the rewards industry."

This capital infusion will help Kard scale operations and further expand into new markets.

"Kard started as a point solution helping our fintech and card issuer partners offer merchant-funded rewards, and has evolved into a scaled commerce media network," said Ben Mackinnon, CEO of Kard. "With spend data aggregated across debit, credit, receipts, and other sources, we can see how consumers actually spend—and, more importantly, what motivates them to switch. That insight lets us create measurable, incremental value for both financial institutions and merchants."