X1 raises $15 million

X1, a consumer fintech startup offering the “smartest credit card ever made,” announced $15 million in additional funding led by Soma Capital, with participation from The Points Guy founder & CEO, Brian Kelly, and Cruise CEO, Kyle Vogt, bringing the series B round total to $40 million. To date, the San Francisco-based startup raided over $60 million.

Founded in 2017, X1’s VISA credit card is issued by Coastal Community Bank. It offers a range of benefits including cell phone protection, trip interruption reimbursement, travel and emergency assistance, and extended warranty protection, among other things.

Aside from a credit card, X1 is launching a new investing platform that will allow cardholders to buy stocks with their earned reward points. The new trading platform will live within X1’s app and will be rolling out to a select number of cardholders in the next several weeks.

The startup opened to the general public in September after 600,000+ consumers joined the waitlist.