Registry — Vantage Bank Texas (US) added to the registry
Enforcement — Termination of Enforcement Action issued against Deutsche Bank AG, DB USA Corporation, and Deutsche Bank AG New York Branch · Federal Reserve · Aug 25, 2026
Partnership — Revolut Japan Partners with Minna no Ginko via BaaS Banking Agency Agreement · Aug 25, 2026
Product — Absa Develops Embedded Payment Tool for Township Small Businesses · Aug 22, 2026
M&A — I-Remit Approves P20 Million Capital Infusion Into Surepay Technologies · Aug 22, 2026
Funding — Startup Embedd Raises Pre-Seed Investment Round · Aug 25, 2026
Deal Feed
Partnerships, funding rounds, product launches, and M&A across the ecosystem.
B2B payments fintech Plastiq filed for bankruptcy on May 25, 2023, and simultaneously entered a sale agreement with Priority Technology Holdings. Plastiq had enabled businesses to make payments via credit card on invoices that typically required other payment methods. The deal marks a notable failure in the B2B embedded payments space.
Nymbus raised $70 million in Series D funding led by Insight Partners, with participation from ConnectOne Bank, PeoplesBank, The Banc Funds Company, and Mendon Venture Partners. The banking technology provider will use the funds to scale its transaction processing and commercial banking platform. Nymbus offers modern core systems and BaaS capabilities to banks and credit unions.
Episode Six (E6), a US-based fintech providing payment processing and banking infrastructure via APIs, secured $48 million in Series C funding led by Avenir. The round includes participation from existing investor Anthos Capital. The funds will be used to expand go-to-market efforts and scale operations across 38 countries, modernizing payments infrastructure for banks and enterprises.
Fifth Third Bancorp announced the acquisition of Rize Money, Inc., a fintech platform providing payment infrastructure and risk management via a single API. The deal strengthens Fifth Third's embedded payments business, which was already growing at double digits with projected annual revenue exceeding $130 million. This positions the bank to serve fintechs and technology companies seeking to offer financial products through their own platforms.
The FDIC issued a consent order against Cross River Bank, a major fintech sponsor bank, citing inadequate oversight of fintech partners, fair lending compliance failures, and unsafe banking practices. The action heightened regulatory scrutiny on the bank-fintech partnership model. Cross River is one of a small number of banks serving as BaaS sponsors for fintechs.
PortX, a ModusBox spinoff, raised $17.5 million in a Series A round to build out its Banking-as-a-Service-like platform connecting community banks with fintechs. Fuse and BankTech Ventures invested $10 million of the round. The platform focuses on seamless API integrations for smaller financial institutions.
Tarabut Gateway, a MENA-focused open banking platform, closed a $32 million Series A led by Pinnacle Capital with participation from Aljazira Capital, Visa, and Tiger Global. The platform connects banks and fintechs via APIs, functioning as BaaS-adjacent infrastructure. Proceeds will fund expansion in Saudi Arabia.
Citi Retail Services launched Citi Pay, a new embedded payment product family starting with Citi Pay Credit, a digital-only credit card for participating retailers. The company also announced plans for Citi Pay Installment Loan. The launch reflects Citi's strategy to embed payment capabilities directly within retail experiences.
Treasury Prime partnered with Sydecar and Grasshopper Bank to provide embedded banking-as-a-service with white-label options. The platform processed $131.9 million in transactions by late 2023. The collaboration demonstrates the growing scale of BaaS middleware connecting fintechs with bank partners.
Mastercard and Fabrick signed a strategic partnership to accelerate embedded finance adoption across Europe. The collaboration enables companies to integrate payments, banking, and insurance into their products via APIs. Fabrick's platform already connected over 400 counterparties generating more than 330 million API calls monthly.
Maast launched embedded finance solutions enabling software companies to integrate banking, payments, and financial services directly into their platforms. The launch makes embedded finance more accessible for software providers and their end customers. This positions Maast as a BaaS enabler targeting the vertical SaaS market.
Staking service provider P2P.org secured $23 million in funding supported by Jump Crypto, Bybit, and Sygnum. The capital will fund blockchain infrastructure development and a new platform offering institutional-grade staking via APIs, RPC nodes, and white-label services for intermediaries.
Airwallex launched its global payments platform in Canada, offering cross-border payments, treasury, spend management, and embedded finance capabilities. The expansion provides Canadian businesses with an alternative to traditional banking for international financial operations. This marks a significant geographic expansion for Airwallex's embedded finance offering.
Texas-based TransPecos Banks partnered with fintech infrastructure provider Episode Six (E6) to launch a credit card program using E6's Tritium platform. The bank deployed E6Issuing and E6Wallet products for card issuing, processing, and virtual account ledger services. The partnership enables TransPecos to sponsor customer card programs with flexible support for multi-currency transactions and specialized products.
Open Payments, a Swedish fintech, raised €3 million to expand its B2B payment solutions. The company provides open banking-powered payment infrastructure, enabling businesses to embed payment capabilities. The round will support product development and market expansion.
Clear Street raised an additional $270 million in its Series B round, led by Prysm Capital, bringing the total Series B to $435 million at a $2 billion valuation. The company builds technology-enabled infrastructure for capital markets and prime brokerage, serving as a modern alternative to legacy bank-provided services.
Brassica Technologies closed an $8 million seed round backed by Mercury Fund, Valor Equity Partners, and others. Its subsidiary, Brassica Trust Company, holds a Wyoming Trust Charter and provides API-enabled custodial and transfer agent services for alternative assets, marketed as investment infrastructure as a service.
Malaysian full-stack payment provider Soft Space completed a US$31.5 million Series B1 round led by Southern Capital Group, with participation from transcosmos Inc., JCB, and Hibiscus Fund. The company's payment technology is used by over 70 financial institutions globally, positioning it as embedded payments infrastructure for banks and financial partners.
Apiture introduced Business Insights, a digital banking feature integrated with Monit, providing cash flow analysis, forecasting, and business health insights. The feature supports embedded banking strategies for U.S. banks and credit unions. This partnership enhances the digital banking toolset available to community financial institutions.
Peach Payments, a Cape Town-based payments gateway, raised €29 million ($31 million) in Series A funding led by Apis Partners. The company provides API infrastructure enabling merchants across Africa to accept payments via cards, digital wallets, mobile money, and BNPL services.
Bread Financial launched the Bread Cashback American Express Credit Card in April 2023, winning a Fintech Breakthrough Award for Best Credit Card Payments Solution. The card is the company's first partner product featuring digital wallet push provisioning. This highlights active white-label credit card innovation in the BaaS space.
KeyBank partnered with fintech infrastructure provider Qolo to offer virtual accounts and digital payments solutions. The partnership enables KeyBank to leverage Qolo's modern payment and account infrastructure. This represents a bank-fintech partnership model central to embedded finance and BaaS.
Inbank, a European fintech with an EU banking license, began developing its next-generation embedded finance platform in April 2023 with customer rollout planned for Q4 2023. The platform connects merchants, consumers, and financial institutions for financing, deposits, and embedded services. Inbank also refreshed its visual identity to align with the new strategic direction.
UK fintech Penny launched Penny Connect, a no-code embedded finance widget enabling platforms to integrate invoice finance for small businesses. The tool provides instant quotes with just three data points and next-day funding, removing the need for complex API integrations.