Unit Raises $51M Series B to Grow Banking-as-a-Service Platform

Unit announced a $51 million Series B funding round in June 2021, led by Accel with participation from Better Tomorrow Ventures, Aleph, Flourish Ventures, and TLV Partners. The round brought Unit's total funding since its 2019 founding to nearly $70 million. Unit's banking-as-a-service platform allows companies to embed financial services such as bank accounts and debit cards into their own products with minimal integration effort.

Alongside the funding announcement, Unit introduced Unit Go in beta, a product that enables companies to launch live bank accounts and cards in minutes. The investment reflects strong investor appetite for BaaS infrastructure amid a broader wave of embedded finance adoption. Unit was highlighted as a standout among 51 fintech funding rounds that week, underscoring the momentum in payments and embedded banking.

The capital is expected to accelerate product development and customer acquisition for Unit's platform.