# Highnote vs Increase

> A head-to-head look at two embedded-finance infrastructure companies that solve different halves of the same problem. Highnote, founded in 2020 by ex-Braintree executives John MacIlwaine and Kin Kee, is a card-issuing and program-management platform that lets companies launch branded debit, credit and commercial cards on one API. Increase, founded the same year by Stripe's first employee Darragh Buckley, is a bank-grade money-movement API for ACH, wire, real-time payments and checks - and in 2025 it bought a bank charter of its own. Issuing cards versus moving money: the same wave, two different primitives.

## Achievements

- Highnote: raised $90M Series B in January 2025 at a valuation above $750M; total funding around $155M.
- Highnote: named to the Forbes Fintech 50 in 2024, 2025 and 2026; obtained Visa card issuer-processor certification.
- Highnote: unified card issuing, acquiring, credit and a real-time ledger on a single API; 70+ enterprise customers.
- Increase: powers over $500B in annual money movement for Stripe, Ramp and Gusto - while self-funded and profitable.
- Increase: acquired a bank charter via Twin City Bancorp and launched Increase Bank in 2026.
- Increase: named to the Forbes Fintech 50 (2025, 2026) and won American Banker's Innovation of the Year in 2025.

## Latest updates

- **2026-07** — Increase Bank launches as an FDIC-member institution built for fintech companies.
- **2026-02** — Highnote named to the Forbes Fintech 50 for a consecutive year.
- **2025-06** — Increase receives Fed approval to fully acquire Twin City Bancorp, gaining a bank charter.
- **2025-01** — Highnote raises $90M Series B at a $750M-plus valuation.

## Links

- Website: https://highnote.com
- LinkedIn: https://www.linkedin.com/company/highnote-inc/

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Published by YesPress — https://yespress.io
Last updated: 2026-08-21