Badge, a San Francisco company that runs an operating platform for Apple Wallet and Google Wallet, announced on 19 February 2026 that it has raised $17.1m in total funding. That includes a $13.8m Series A led by TTV Capital, with participation from Stripe, Synchrony Ventures and Infinity Ventures.
The total also includes a $3.3m seed round that had not been announced before, led by QED Investors and Infinity Ventures. Fortune, which reported the news as an exclusive, said the company was founded in 2023. No valuation was disclosed.
As part of the Series A, Lynne Laube, a venture partner at TTV Capital and co-founder and former chief executive of Cardlytics, joined Badge's board of directors.
“More people are leaving their physical wallets at home and relying entirely on their phones to transact.”Eric Senn, co-founder and CEO, Badge
What Badge does
Badge provides the infrastructure that makes Apple and Google Wallet programmable, according to Pulse 2.0. From one dashboard, companies can create and distribute wallet passes, push live updates such as new balances, images, links and notifications, and measure performance.
The company says wallet cards can adapt to context, behaviour, location and time, which it describes as laying the groundwork for wallet commerce, where transactions and customer engagement happen directly from the wallet.
The passes include branded loyalty cards, membership cards, gift cards and tickets. Pulse 2.0 reported that across Badge's customer base this has led to repeat e-commerce and in-store purchases, without naming customers.
Fortune said Badge focuses on the functions that keep wallet use sticky: loyalty programmes, gift cards, membership cards and tickets.
The wallet as a channel
Eric Senn, Badge's co-founder and chief executive, argues that the wallet is becoming a new surface brands must have a strategy for, alongside websites and apps. He told Fortune that more people use Apple and Google Wallet than TikTok, and that wallets are pre-installed on phones, which makes them a lighter-touch way to keep customers than asking them to download an app. Senn previously co-founded the mobile commerce marketplace Storr.
Senn pointed to Apple's new ticket interface as an example of the shift. It is no longer just a ticket but a portal to merchandise, food ordering and venue maps, he said, and part of a wider move that makes the wallet a core layer of the iOS and Android ecosystem rather than a feature tucked inside it.
Pulse 2.0 cited a 2025 PYMNTS Intelligence report saying wallets account for 35% of online purchases and 21% of in-store transactions, and said more than 4.3 billion people use digital wallets worldwide.
Senn told Fortune the biggest challenge is not growth but avoiding damage to the channel. He said the team is thinking about guardrails to stop wallets from filling with spam in the way email and text messages have.
What the money is for
Badge said it will use the new capital to accelerate go-to-market efforts, expand its product capabilities and deepen partnerships, with the aim of becoming core customer infrastructure for enterprise brands and platforms that adopt Apple and Google Wallet.
Lynne Laube said in the announcement that Badge has quickly emerged as a foundational platform for brands that want wallet experiences that are real-time, measurable and built for scale.
The sources did not report Badge's headcount, revenue or the names of its customers.