Sila Raises $13M Series A for Compliant Payment Infrastructure API

Sila, a U.S.-based fintech offering API-driven payment infrastructure, announced a $13 million Series A funding round led by Revolution Ventures on July 26, 2021. The funding brings Sila's total raised to over $20 million. Sila provides APIs for compliant payment processing, KYC (Know Your Customer), and KYB (Know Your Business) verification, enabling developers to build financial products with built-in regulatory compliance.

The platform is backed by Evolve Bank & Trust, which provides the underlying banking infrastructure and regulatory framework. This bank-fintech partnership model allows Sila's clients to move money and verify identities through a single API without needing to establish their own banking relationships. The funding will be used to expand Sila's product capabilities and grow its customer base among fintechs and platforms seeking embedded finance solutions.

The round highlights continued investor interest in compliance-first BaaS infrastructure providers that bridge the gap between fintechs and regulated banking partners.