Registry — Vantage Bank Texas (US) added to the registry
Enforcement — Licence Revocation issued against Paytm Payments Bank · RBI · Apr 26, 2026
Partnership — Qolo Expands KeyBank Partnership to Launch Virtual Commercial Card Program · Apr 28, 2026
Product — Aven Launches Bitcoin-Backed Visa Credit Card with BitGo and Coastal Community Bank · Apr 28, 2026
M&A — Capacity Acquires DevRefactory to Expand Embedded Middleware and AI Capabilities · Apr 28, 2026
Funding — UAE B2B Embedded Finance Platform Comfi Raises $65M Pre-Series A · Apr 27, 2026
Deal Feed
Partnerships, funding rounds, product launches, and M&A across the ecosystem.
Prime Trust, a financial infrastructure provider for fintechs, raised $64 million in its Series A round in July 2021. The company reported an annual revenue run-rate exceeding $100 million. Prime Trust provides infrastructure APIs enabling fintechs to offer custody, payments, and compliance services.
The Bancorp Bank announced a banking-as-a-service sponsor bank partnership with fintech Current to provide back-end banking services and card issuing sponsorship. Current, a digital banking app with nearly 3 million members, will leverage The Bancorp's infrastructure to enhance its product offerings including basic, premium, and teen accounts. The partnership represents a key expansion for both companies in the BaaS space.
Netbank launched as a regulated Banking-as-a-Service platform in the Philippines, operating under a rural banking license. The platform plans to offer APIs for accounts, payments, loans, and cards, targeting the Southeast Asian market. This represents an early BaaS entrant in the region operating with a direct banking license.
Mastercard's Start Path program welcomed 11 fintechs in July 2021, including upSWOT and Swap. upSWOT offers a white-labeled business health dashboard for banking platforms, while Swap provides an embedded financial services platform. The cohort reflects Mastercard's focus on scaling embedded finance innovation.
Nium completed a $200+ million Series D funding round, becoming Southeast Asia's first global B2B payments unicorn. The company provides pay-outs, pay-ins, card issuance, and banking-as-a-service through a single API. The round validates growing investor appetite for global BaaS and payment infrastructure platforms.
Community First Bank selected Q2 Holdings' digital banking platform to support lending and wealth management capabilities. The partnership enables the bank to modernize its digital services for customers and fintech partners. It reflects the growing trend of community banks adopting fintech-powered platforms to remain competitive.
Fifth Third Bancorp announced a definitive agreement to acquire Provide, a digital lending and banking platform for healthcare practices. Fifth Third had been an early investor since 2018 and began funding loans through Provide's platform in 2020. Provide serves over 70% of the doctors it finances with core banking and payments services, making this a significant embedded finance acquisition.
Unit, an Israel and NYC-based BaaS fintech, raised $51 million in a Series B round led by Accel. Existing investors Better Tomorrow Ventures, Aleph, Flourish Ventures, and TLV Partners also participated. The funding brings Unit's total raised since 2019 to nearly $70 million, fueling its platform that enables companies to embed bank accounts and cards into their products.
Nymbus CUSO, a BaaS-adjacent platform serving credit unions, secured $5 million in new financing on June 15, 2021. The funding supports Nymbus's efforts to help credit unions launch digital-first banking products. The round highlights growing demand for BaaS solutions beyond traditional fintech-bank partnerships.
Cross River Bank launched Cross River Digital Ventures, a venture capital arm investing in fintech startups focused on lending, payments, investing, and embedded finance. The initiative aligns portfolio companies with Cross River's core banking infrastructure ecosystem. This positions the bank to deepen its role as a key BaaS provider by strategically backing next-generation fintechs.
Finastra showcased its FusionFabric.cloud open banking platform during DIFC Innovation Month in Dubai. The event on June 16 highlighted API-driven tools for retail banking and payments aimed at empowering fintechs. The showcase underscores growing open banking and embedded finance momentum in the MENA region.
French digital bank Orange Bank partnered with consumer lending fintech Younited to enhance its consumer credit value chain. The collaboration integrates Younited's white-label lending platform into Orange Bank's services, enabling faster loan applications and broader clientele reach. The deal underscores growing bank-fintech collaboration in embedded lending across Europe.
Nityo Infotech invested $100 million in Singapore-based fintech MatchMove, becoming its largest shareholder. The investment is intended to accelerate global distribution of MatchMove's embedded finance platform via open APIs. This deal underscores growing institutional interest in BaaS infrastructure across APAC.
The U.S. Court of Appeals for the Second Circuit dismissed the New York DFS lawsuit challenging the OCC's authority to issue special purpose national bank charters to non-depository fintechs, ruling DFS lacked standing. The decision reversed a lower court ruling that had blocked the OCC's SPNB regulation. While no fintech SPNB charters had been issued, the ruling preserved the OCC's legal authority to grant them.
Deserve secured $50M in Series D funding led by Mastercard to scale its white-label credit card technology. The platform offers API/SDK features for instant card issuance and AI-driven profitability tools. Partnerships like Opportunity Financial's OppFi Card demonstrate the embedded finance model in action.
Divido secured $30M in Series B funding led by HSBC and ING to expand its white-label buy-now-pay-later product. The platform serves banks, retailers, and payment partners across 10 markets. This investment highlights major banks backing embedded BNPL infrastructure rather than building in-house.
Belvo, a Latin American open finance API platform often called 'LatAm's Plaid,' raised $43 million in a Series A round. Investors included Kaszek, Future Positive, Kibo Ventures, FJ Labs, MAYA Capital, VentureFriends, and angels such as Nubank's David Vélez and Wise's Harsh Sinha. The round was the largest Series A for a LatAm fintech at the time per Crunchbase data. The funding will help Belvo scale its developer-first API that connects apps to bank accounts, tax authorities, and gig platforms across Mexico, Brazil, and Colombia.
BaaS startup Synctera raised a $33 million Series A led by Fin VC, with participation from sponsor bank partners Veritex Community Bank, Midland States Bank, and Emigrant Bank. The company also announced a partnership with National Bank of Canada to help companies launch fintech apps and embedded banking products in Canada. Synctera emphasized a multibank structure to address BaaS pain points and regulatory concerns.
German fintech Raisin announced its first U.S. banking-as-a-service partner, Dallas-based MapleMark Bank, following 18 months of preparation for U.S. market entry. The partnership enables Raisin to offer its savings marketplace product to American consumers. This marks a significant transatlantic expansion for the European deposit marketplace platform.
Coastal Community Bank's CCBX BaaS division onboarded six new fintech partners in the first half of 2021, bringing its total to 21 active or in-progress relationships. New partners include Greenwood, One, Sable, Cheese, Till, Possible Finance, and Movocash. The rapid expansion underscores growing demand from mission-driven neobanks and niche fintechs for sponsor bank infrastructure.
Berlin-based Finleap Connect raised €22 million in a Series A round in June 2021 for its fintech connectivity platform. The round was led by SBI Investment and Ilavska Vuillermoz Capital. Finleap Connect focuses on open banking and financial data connectivity in Europe, building on its post-2019 merger operations.
Mastercard collaborated with upSWOT to provide a white-labeled business health dashboard for integration into online and mobile banking platforms. The tool offers SMB cashflow forecasting through 120+ API-enabled apps. This partnership helps banks embed fintech-powered SMB tools directly into their digital channels.
VP Bank partnered with InvestCloud to create an innovative Open Wealth Service platform. The platform enables customized wealth management solutions for VP Bank's clients and third-party intermediaries via an open architecture. This supports VP Bank's Strategy 2026 to become an international Open Wealth Service provider.
House Select Subcommittee on the Coronavirus Crisis Chairman Jim Clyburn sent a letter to Cross River Bank on May 27, 2021, investigating the fintech-bank's role in Paycheck Protection Program fraud. Cross River, a key BaaS partner bank for fintech lenders, faced scrutiny over its PPP lending practices. The inquiry highlighted risks in the fintech-bank partnership model for government lending programs.