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.
eToro and OpenPayd partnered to launch an embedded finance proposition across Europe. The collaboration enables eToro to leverage OpenPayd's banking-as-a-service infrastructure for payments and financial services. This expands embedded finance availability for eToro's European user base.
Fadi Cheikha, founder of payments firm US Alliance Group, agreed to acquire 65-85% of Florida Bancshares, parent of First National Bank of Pasco. The deal aims to integrate fintech capabilities while preserving the community bank's charter and local focus. Closure was expected by year-end 2022.
Treasury Prime announced a BaaS partnership with Tennessee-based FirstBank (FB Financial Corp), a $12.7 billion asset bank. The deal enables FirstBank to offer embedded finance solutions to fintechs, payments firms, and InsureTech clients via Treasury Prime's API platform. FirstBank is the first bank on a Jack Henry core to leverage these solutions.
Banc of California acquired payments platform Deepstack Technologies for $24 million (70% cash, 30% stock). The deal adds merchant processing and fraud tools to the bank's capabilities. This positions the $9.5 billion-asset bank to expand its embedded payments and fintech services.
Synctera launched the BaaS industry's first Line of Credit product on September 20, 2022, enabling fintechs to offer credit products through its embedded finance platform. The product expands Synctera's toolkit beyond deposit accounts and cards into lending. This marks a significant step in broadening the range of financial products available through BaaS platforms.
Treasury Prime was accepted into the Jack Henry Vendor Integration Program, enabling all banks on Jack Henry's core to adopt Treasury Prime's BaaS technology. Third Coast Bank SSB became the first Jack Henry bank partner to leverage the integration. This significantly expands Treasury Prime's addressable market among community and mid-size banks.
Power emerged from stealth mode with $316.1 million in funding to provide a full-stack, white-labeled credit card issuance platform. The platform embeds directly within companies' existing mobile and web applications. It offers customers a frictionless experience for applying for and managing credit cards, positioning Power as a major new entrant in embedded card issuance.
Modern Treasury and Goldman Sachs partnered to provide integrated software and payments solutions to corporate customers. The collaboration targets mid-market companies seeking embedded finance access. It combines Modern Treasury's payment operations platform with Goldman Sachs' transaction banking capabilities.
The Japanese Bankers Association announced plans for an API Gateway to standardize connections to the Zengin interbank payment system, targeting completion by 2027. The initiative aims to ease fintech participation by providing uniform API access to Japan's core payment rails. This represents a significant step toward open banking infrastructure in Japan.
FIS announced Worldpay for Platforms, a new solution combining merchant services, banking, and embedded payments for SMB-focused software providers. Built on the Payrix acquisition, the platform enables SaaS companies to embed commerce and financial services into their offerings. The launch targets the growing demand for embedded finance among vertical SaaS platforms.
Mastercard entered a partnership with Copenhagen Fintech to empower and strengthen collaboration within the Nordic fintech ecosystem. The deal focuses on open banking, startup programs, and ecosystem growth. It positions Mastercard to deepen embedded finance relationships across the Nordics.
Swedish fintech Bits raised €1M in pre-seed funding in early September 2022 to develop its low-code platform that helps technology companies build and manage embedded financial services via open banking integrations. The round supports Bits' mission to simplify how non-financial companies offer financial products. The startup operates at the intersection of open banking and embedded finance.
The OCC took enforcement action against Blue Ridge Bank (a Unit partner) for inadequate oversight of its fintech partnerships, signaling heightened regulatory focus on BaaS arrangements. The action highlighted risks when banks rely on middleware platforms to manage fintech relationships. This marked a significant escalation in regulatory pressure on the BaaS model, affecting platforms like Synctera, Unit, Treasury Prime, and others.
Alloy, an identity decisioning platform serving over 300 banks and fintechs, raised $52 million in additional funding led by Lightspeed Venture Partners and Avenir Growth, reaching a $1.55 billion valuation. The API-based infrastructure connects clients to over 160 data sources for KYC/KYB, AML, credit, and compliance workflows. The funding targets accelerated growth and global expansion amid rising fraud demands.
Splitit completed a $10.5 million capital raise to expand its white-label Installments-as-a-Service platform. The platform, launched in May 2022, embeds merchant-branded installment payment experiences directly into checkout flows. The funding supports Splitit's next phase of growth in the embedded BNPL space, differentiating through a frictionless, white-label approach.
Bond Financial Technologies launched the industry's first white-label solution enabling B2B SaaS platforms to offer commercial charge cards without writing code. The platform includes built-in compliance and underwriting, allowing companies to go live through a single API agreement. This eliminates the traditional process of establishing separate relationships with card issuers, manufacturers, banks, and card networks.
Anchor, a banking-as-a-service platform for Africa, was one of three fintech companies from the continent selected for Y Combinator's Summer 2022 batch. The accelerator program concluded in September 2022. Anchor's inclusion highlights growing BaaS demand in African markets.
The Bancorp Bank, a major U.S. sponsor bank for fintech-BaaS partnerships, transitioned from a state to a national charter in September 2022. The move came amid increased OCC scrutiny of partner bank-fintech relationships. The charter change has significant implications for regulatory oversight of BaaS arrangements.
Solid, an embedded fintech-as-a-service platform formerly known as Wise, closed a $63 million Series B round. The funding supports its platform enabling companies to embed banking, payments, and card services into their products via APIs.
First National Bank of Omaha (FNBO) launched Bend by FNBO, a Credit Card-as-a-Service (CaaS) platform built with Marqeta. The open API solution enables fintechs, digital brands, and platforms to offer customized credit card programs. FNBO handles underwriting, compliance, and risk management, positioning itself as a major embedded finance partner.
Bond Financial Technologies launched its Credit Builder Card, a secured credit card powered by Mastercard and issued by Evolve Bank & Trust. The embedded credit product enables fintechs and brands to offer credit-building services without consumer credit checks. Repayment histories are reported to credit bureaus, targeting credit-challenged consumers.
WebBank announced a collaboration with American Express focused on embedded finance and digital lending innovations. The partnership positions WebBank as a strategic enabler of financial product innovation. It underscores the growing role of industrial loan charter banks in powering embedded finance at scale.
BaaS startup Unit partnered with Thread Bank to embed banking services including accounts, cards, payments, and lending. The deal is part of Unit's multi-bank approach and serves clients such as AngelList and HoneyBook. Thread Bank, based in Tennessee, adds another sponsor bank option to Unit's infrastructure.
Parafin, an embedded finance startup specializing in capital products for platforms, raised a $60 million Series B round. The funding supports the company's mission to help platforms offer embedded lending and cash advance products to their merchants. The round reflects continued investor confidence in embedded finance infrastructure.