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Founded Year



Private Equity - II | Alive

Total Raised


About CardWorks

CardWorks is a consumer lender, merchant acquiring bank, and loan servicer to regulated financial institutions and non-bank lenders. CardWorks provides servicing operations and portfolio management to bank and non-bank consumer and small business lenders through CardWorks Servicing and Carson Smithfield. CardWorks Servicing is an independent servicer of nationally-branded Visa®/Mastercard® cards, secured cards, and unsecured installment loans. Carson Smithfield provides post-charge-off debt recovery services. On February 18, 2020, CardWorks announced it was being acquired by Ally Financial for $2.65B. However, on June 24, 2020, both parties announced that the deal had been called off. This was due in part to the structure of the deal. According to the acquisition announcement, the share number of the deal was based on Ally’s closing stock price of $32.85 on February 14, and the price was based on Ally’s forecast of closing equity and other adjustments, excluding any possible kill-or-fill adjustment. Such an adjustment was said to potentially arise if Ally’s stock price were to decline by more than 15% in which case a kill-or-fill termination right would be exercised in which Ally can elect to fill it by issuing additional stock. In this deal, it appears that Ally which saw its stock price drop post deal opted not to "fill" the deal per reports.

Headquarters Location

101 Crossways Park West

Woodbury, New York, 11797,

United States


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Research containing CardWorks

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CB Insights Intelligence Analysts have mentioned CardWorks in 1 CB Insights research brief, most recently on Jun 25, 2020.

Latest CardWorks News

CardWorks acquires Dataline Systems

Jan 23, 2023

Jan. 23, 2023 CardWorks Servicing LLC, an outsourcing support services for credit cards and installment loan products, has acquired Dataline Systems LLC, a business process outsourcing and financial services operations support company, according to a press release. "Dataline has unique capabilities in payment disbursement services, data reporting and analytics, and business process automation, each of which are additive to our existing CWS capabilities," Matt Berman, head of servicing business at CardWorks, said in the release. "As such, the acquisition will further strengthen our end-to-end credit card and installment loan portfolio management and servicing offerings for banks, credit unions, non-bank lenders, and asset managers." CardWorks will offer its resources and operational support to Dataline, which will in turn grow its business with clients in both companies. KEEP UP WITH ATM AND DIGITAL BANKING NEWS AND TRENDS Sign up now for the ATM Marketplace newsletter and get the top stories delivered straight to your inbox. SUBSCRIBE NOW

CardWorks Frequently Asked Questions (FAQ)

  • When was CardWorks founded?

    CardWorks was founded in 1987.

  • Where is CardWorks's headquarters?

    CardWorks's headquarters is located at 101 Crossways Park West, Woodbury.

  • What is CardWorks's latest funding round?

    CardWorks's latest funding round is Private Equity - II.

  • How much did CardWorks raise?

    CardWorks raised a total of $11.5M.

  • Who are the investors of CardWorks?

    Investors of CardWorks include Parthenon Capital, Reverence Capital Partners and Pacific Investment Management Co..

  • Who are CardWorks's competitors?

    Competitors of CardWorks include ClearOne Advantage and 4 more.

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