About Lithic
Lithic is a company based in New York (United States) founded in 2014 by David Nichols, Boling Jiang, and Jason Kruse.. Lithic has raised $116.6 million across 5 funding rounds from investors including Bessemer Venture Partners, Exor and Stripes. Lithic offers products and services including Virtual Card Issuance, Physical Card Issuance, and Dispute Management. Lithic operates in a competitive market with competitors including Jumio, IDX, HYPR, Keyless and MagicCube, among others.
- Headquarter New York, United States
- Founders David Nichols, Boling Jiang, Jason Kruse
- Stage Soonicorn
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Sectors
Financial Services
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Email
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Phone
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Website
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Social
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- Legal Name Lithic, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$116.6 M (USD)
in 5 rounds
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Latest Funding Round
$60 M (USD), Series C
Jul 28, 2021
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Investors
Bessemer Venture Partners
& 12 more
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Employee Count
Employee Count
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Products & Services of Lithic
Lithic offers a comprehensive portfolio of products and services, including Virtual Card Issuance, Physical Card Issuance, and Dispute Management. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
API for generating transaction-ready virtual cards quickly.
Service for customizing and issuing physical payment cards.
API tools for handling chargebacks and transaction disputes.
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Funding Insights of Lithic
Lithic has successfully raised a total of $116.6M across 5 strategic funding rounds. The most recent funding activity was a Series C round of $60 million completed in July 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 5
- Last Round Series C — $60.0M
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First Round
First Round
(27 Oct 2015)
- Investors Count 13
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Series C - Lithic | Valuation | Stripes | |
| May, 2021 | Amount | Series B - Lithic | Valuation | Bessemer Venture Partners | |
| Jul, 2020 | Amount | Series A - Lithic | Valuation | Teamworthy Ventures |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Lithic
Lithic has secured backing from 13 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Bessemer Venture Partners, Exor and Stripes. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Global investments are made in product-led growth companies.
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Founded Year | Domain | Location | |
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Venture capital investments and support for entrepreneurs in technology and innovation sectors.
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Founded Year | Domain | Location | |
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Venture capital investments in technology startups and entrepreneurs.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Lithic
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Lithic
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Lithic Comparisons
Competitors of Lithic
Lithic operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Jumio, IDX, HYPR, Keyless and MagicCube, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
AI-powered identity verification and fraud protection solutions are provided.
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| domain | founded_year | HQ Location |
Cloud-based solutions for identity protection and data security are provided.
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| domain | founded_year | HQ Location |
Passwordless multi-factor authentication and identity assurance solutions are provided.
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| domain | founded_year | HQ Location |
Cloud-based biometric authentication and identity management solutions are provided.
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| domain | founded_year | HQ Location |
IoT security solutions for mobile device transactions are provided.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Lithic
Frequently Asked Questions about Lithic
When was Lithic founded?
Lithic was founded in 2014 and raised its 1st funding round 1 year after it was founded.
Where is Lithic located?
Lithic is headquartered in New York, United States. It is registered at New York, New York, United States.
Who is the current CEO of Lithic?
Boling Jiang is the current CEO of Lithic. They have also founded this company.
Is Lithic a funded company?
Lithic is a funded company, having raised a total of $116.6M across 5 funding rounds to date. The company's 1st funding round was a Series A of $10.2M, raised on Oct 27, 2015.
What does Lithic do?
Lithic was founded in 2014 in New York, United States, within the fintech sector. White-label solutions for prepaid cards are offered, allowing businesses to issue configurable cards and manage real-time transactions. Key services encompass KYC verification, customer onboarding, APIs for seamless integrations, and card-issuing platforms. Operations center on enabling efficient payment processing for various enterprises across the region.
What products or services does Lithic offer?
Lithic offers Virtual Card Issuance, Physical Card Issuance, and Dispute Management.
Who are Lithic's investors?
Lithic has 13 investors. Key investors include Bessemer Venture Partners, Exor, Stripes, Index Ventures, and Commerce Ventures.
What is Lithic's valuation?
The valuation of Lithic is $800M as of Jul 2021.