As it consolidates its expansion in Spain and Latin America, the Spanish fintech specialized in the subscription economy, Card Dynamics, has raised 2.5 million euros in a financing round. It has been led by Big Sur Ventures next to GAA, a US-based investment management firm, and other private investors.
The positioning of the company in the world of subscriptions and the growing transition from card payments, has favored the affiliation of banks and businesses to the platform. In the same way as the capital increase in the middle of the pandemic. Subscription service registration skyrocketed Come in 20% and 40% during the first weeks of the COVID period. The peak of monthly growth occurred in April, reaching 85%.
Improved customer experience
Founded in 2018 by Mario Cantero, former Director of Global Acquisition of Grupo Santander, Card-Dynamics has developed a B2B platform that eliminates friction in the underwriting economy. In addition, it greatly improves the customer experience by creating a data bridge between banks and businesses. Thanks to Card-Dynamics, a cardholder can register on an online platform or commerce. With means of payment included, from the bank’s secure environment. Or a merchant can, with the customer’s permission, update the customer’s payment information on registered cards. And thus avoid recurring payment denials when something happens to the existing card.
The differential advantage of Card Dynamics is that the participants of the platform benefit from a strategic point of view without prejudice to immediate results. On the one hand, the banks reinforce the direct relationship with the customer who was stolen from them by the country while ensuring the intermediation of recurring transactions. For another, the shops access a catchment channel alternative, high-quality customer services while ensuring you have the data you need to charge your customers. Indirectly customers have a wonderful user experience. In this way, You avoid having to fill in registration forms on each platform, as a result of the collaboration of banks and businesses.
The capital injection will be used to establish local business development teams in countries such as Chile, Mexico, Brazil, Ecuador and Peru, among others. As well as for product improvement driven by revolutionary technological and regulatory trends. The platform is in the cloud and has security certificates such as PCI. Lis able to serve a global base of banks and businesses.
Card Dynamics is promoted by players in the payments industry globally. Something that has allowed it to have both banks and businesses, a key condition in a B2B platform. In addition to its great advisors, the team is made up of talented executives with experience, not only in payments, but also in important loyalty networks such as Avios.