Mbanq Powers Cheqly's SME Digital Banking via BaaS Platform

Mbanq, a BaaS platform provider, partnered with Cheqly to deliver SME-focused digital banking services through a white-label arrangement. Mbanq provided the backend banking infrastructure, allowing Cheqly to brand and customize the product for its target market of startups and small businesses. The partnership reduced operational costs for Cheqly while enabling rapid deployment of banking features tailored to underserved SME segments.

Cheqly was able to offer accounts and banking tools without obtaining its own banking charter or building core systems. Financial terms of the arrangement were not disclosed. The deal reflects a broader trend of BaaS platforms enabling niche fintechs to reach market faster with lower capital requirements.