Basis Theory has announced a major funding increase of $33 million to accelerate its mission of transforming how payments are handled with agentic commerce. The company works with big clients like Pinterest and MoneyGram, aiming to give merchants more control over sensitive payment data while collaborating across various payment service providers. This shift is key as product leaders increasingly see payments not just as a cost but as a driver of growth in their business.

Empowering Merchants with Better Data Control

Many merchants struggle with managing payment information across different providers, facing complex compliance rules and technical challenges. Basis Theory’s platform addresses this by enabling users to tokenize and securely manage sensitive payment data. This means merchants can decide exactly how their data is accessed or shared with external partners, reducing risks and increasing flexibility.

Colin Luce, Co-Founder and CEO of Basis Theory, emphasizes the importance of this shift. He explains, “The payments ecosystem is changing rapidly, and merchants no longer want to be locked into rigid platforms. We’re giving control back by making payments data as accessible and programmable as any other data type so it can fuel growth, intelligence, and automation across the entire business.”

Building the Foundation for AI-Driven Transactions

At the core of Basis Theory’s technology is a cloud-native, PCI-compliant vault that operates independently from any specific payment processor. This infrastructure creates a solid foundation for what’s called agentic commerce—a new way for merchants to participate in automated, AI-powered transactions safely and at scale.

The company also leads the Agentic Commerce Consortium, which includes over 20 organizations working to establish standards for AI-driven commerce. This group focuses on building the infrastructure needed for AI agents to act as trusted buyers, delivering personalized experiences and enabling autonomous purchasing experiences.

Amy Cheetham, a partner at Costanoa, highlights the significance of this development. She notes, “Basis Theory is at the forefront of a dramatic shift as AI reshapes e-commerce. By giving merchants secure, real-time control over payment data, Basis Theory allows AI agents to authorize transactions, personalize experiences, and drive autonomous buying.”

Founded by Fintech Experts and Growing Fast

Founded in 2020 by fintech veterans Brian Billingsley, Colin Luce, and Ben Milne, Basis Theory is well-positioned to expand its platform globally. The recent funding round was led by Costanoa, with participation from Stage 2 Capital, Moneta VC, and existing investors. This investment will help the company scale its enterprise-grade payment vault and solidify its leadership in agentic commerce.

This new funding marks a significant step forward in the company’s plans to revolutionize the payments industry. With its innovative platform and experienced leadership team, Basis Theory aims to give merchants the tools they need to succeed in a rapidly evolving e-commerce world.

As the payments landscape continues to evolve with AI and automation, Basis Theory is set to play a key role in shaping its future. The company’s focus on security, control, and innovation positions it as a leader ready to support merchants worldwide in navigating these changes.

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