Juniper Bank was a

direct bank A direct bank (sometimes called a branch-less bank or virtual bank) is a bank that offers its services only via the Internet, email, and other electronic means, often including telephone, online chat, and mobile check deposit. A direct bank has no ...

based in

Wilmington, Delaware Wilmington ( Lenape: ''Paxahakink /'' ''Pakehakink)'' is the largest city in the U.S. state of Delaware. The city was built on the site of Fort Christina, the first Swedish settlement in North America. It lies at the confluence of the Christina ...

. The bank focused on branded

credit card A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the o ...

History

The bank was founded in January 2000. It received financing from

Benchmark Capital Benchmark is a venture capital firm based in San Francisco that provides seed money to startups. History The firm's most successful investment was a 1997 investment of $6.7 million in eBay for 22.1% of the company. In 2011, it invested $12 mill ...

. In November 2000, the bank began offering insurance products. In September 2001, the

Canadian Imperial Bank of Commerce The Canadian Imperial Bank of Commerce (CIBC; french: Banque canadienne impériale de commerce) is a Canadian multinational banking and financial services corporation headquartered at CIBC Square in the Financial District of Toronto, Ontario. ...

acquired 51% of the company. In August 2002, the Canadian Imperial Bank of Commerce made an additional $50 million investment in the company, bringing its ownership stake to 89%. Benchmark Capital sued, claiming that the terms of the offering were not fair. In November 2002, the bank signed a deal with

Airtran Airways AirTran Airways was a low-cost U.S. airline that was originally headquartered in Orlando, Florida, and ceased operation following its acquisition by Southwest Airlines. AirTran Airways was established in 1993 as Conquest Sun Airlines by the ...

to offer a branded credit card. In 2004, the bank was acquired by

Barclays Barclays () is a British multinational universal bank, headquartered in London, England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services. Barclays traces ...

. In May 2005, the bank began offering a

Harvard University Harvard University is a private Ivy League research university in Cambridge, Massachusetts. Founded in 1636 as Harvard College and named for its first benefactor, the Puritan clergyman John Harvard, it is the oldest institution of higher le ...

branded credit card. In August 2005, the bank invested $455 million to market a

US Airways US Airways (formerly USAir) was a major United States airline that operated from 1937 until its merger with American Airlines in 2015. It was originally founded in History of aviation in Pittsburgh, Pittsburgh as a mail delivery airline called ...

branded credit card. On May 25, 2006, the bank was folded into Barclays credit card division and renamed.

References

{{Barclays Banks established in 2000 2000 establishments in Delaware American companies established in 2000 Defunct banks of the United States