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.
WebBank announced an investment in iCreditWorks to advance digital lending innovations through embedded finance partnerships. WebBank, a prominent BaaS bank partner, is deepening its embedded lending capabilities. The investment strengthens WebBank's position as a leading sponsor bank for fintech lending programs.
Coastal Community Bank joined the newly launched Bankers Helping Bankers (BHB) Banking-as-a-Service Association as a founding member. The association supports BaaS sponsor banks through legislative advocacy, best practices, and collaboration. Coastal's CCBX division provides BaaS to broker-dealers and digital financial service partners. The initiative aims to promote responsible BaaS delivery by federally insured institutions.
Backbase raised its first-ever external funding round of approximately €120M at a €2.5B valuation. The company provides middleware for banks to integrate data sources and build engagement tools like digital onboarding. The funding signals strong market demand for platforms that help banks modernize customer-facing experiences.
UK-based open banking platform Bud Financial raised $80 million in a Series B round led by Bellis Phantom Holdco. The funding supports AI R&D, international expansion, and embedded finance tools including lending products. Bud's platform is used by banks and fintechs to power data-driven financial services.
Railsbank rebranded to Railsr, repositioning itself as an embedded finance experience platform. Alongside the rebrand, Railsr launched a new rewards offering to complement its existing banking, wallets, credit, cards, and data products. The move signals the company's ambition to own the embedded financial layer of the internet.
OpenPayd and Yapily announced a partnership to offer a simplified payments experience by combining embedded finance and open banking APIs. The integration enables streamlined payment flows for businesses leveraging both platforms. This collaboration highlights the convergence of embedded finance infrastructure and open banking.
DECTA achieved Visa Ready certification under Visa's Fintech Enablement program, enabling it to provide full-cycle digital payment services for white-label use by fintechs. The certification validates DECTA's capabilities as a payment processing and card issuance infrastructure provider for embedded finance use cases.
Berlin-based infrastructure fintech Upvest closed a $42 million Series B led by Bessemer Venture Partners. The company's API and core banking system enables neobanks, brokers, and banks to embed investment services. The round included participation from ABN AMRO Ventures, Earlybird, Notion Capital, Partech, 10x Group, and Speedinvest.
Prime Trust, a financial infrastructure provider for fintech and digital asset innovators, raised over $100 million in Series B funding. Investors included FIS, Fin Capital, Mercato Partners, and Kraken Ventures. The company planned to expand into wealth management and Web 3 products.
Treasury Prime enabled fintech First Dollar to offer white-label virtual accounts, checking accounts, and debit cards through a bank's FBO (For Benefit Of) model. Treasury Prime provided the API layer and operational infrastructure connecting First Dollar to its partner bank network. The partnership exemplifies BaaS middleware enabling fintechs to launch banking products without a charter.
KeyBank launched its expanded embedded banking platform with end-to-end payment facilitation capabilities. The platform enables software companies to embed payments and lending, leveraging KeyBank's 2021 acquisition of XUP Payments. It offers digital merchant onboarding, risk management, and transaction reporting.
Singapore-based Triple-A, a digital currency payments solutions platform, raised $4 million in funding led by zVentures, Razer's corporate venture arm. The round was part of Insignia Ventures Partners' Moonshot Fellowship program. Triple-A enables merchants to accept cryptocurrency payments.
Third Coast Bank selected Treasury Prime as its BaaS provider and strategic partner, with a planned launch in Q3 2022. The partnership enables fintechs and enterprises to embed banking services like accounts, payments, and cards through Treasury Prime's platform. Third Coast had already secured multiple fintech clients ahead of the launch. The deal provides the bank with low-cost deposits and diversified revenue streams.
Unit, an Israeli BaaS fintech, closed a $100 million Series C led by Insight Partners, reaching a $1.2 billion valuation and becoming the first BaaS provider to achieve unicorn status. The round included participation from Accel, Better Tomorrow Ventures, Flourish Ventures, Stepstone, and Moving Capital. Funds will accelerate product development including new SDKs, banking front-ends, AWS integrations, and business credit cards.
Webster Bank announced it joined the newly launched Bankers Helping Bankers (BHB) BaaS Association as a founding member. The association focuses on legislative advocacy, best practices, and community building for sponsor banks delivering BaaS to non-banks. Webster highlighted its commitment to growing its BaaS business through fintech and non-financial institution partnerships.
Huntington National Bank acquired Torana, a B2C payments fintech, to expand its digital payments capabilities. The platform was rebranded as Huntington ChoicePay, targeting commercial sectors including healthcare. The deal strengthens Huntington's embedded payments infrastructure for business clients.
FIS partnered with Treasury Prime to launch an API-based embedded finance program enabling small and mid-sized banks to offer digital banking services to fintechs. Grasshopper Bank was the first adopter, using the platform to serve fintechs, SMBs, and venture firms. The program connects banks to Treasury Prime's network of 70+ fintech clients while leveraging FIS's core banking systems.
Fifth Third Bancorp completed its acquisition of Dividend Finance, a point-of-sale lender specializing in renewable energy and home improvement financing. The deal expands Fifth Third's digital lending and ESG-related capabilities. It positions the bank in the growing embedded lending space for sustainable energy projects.
Current, a U.S. fintech with nearly 4 million customers, launched its Platform API to enable embedded banking integrations. The API allows customers to link accounts to over 6,000 apps via Plaid without sharing banking credentials. The launch positions Current as an open banking enabler using phone number and device authentication.
KeyBank acquired GradFin, a fintech specializing in Public Service Loan Forgiveness counseling, to enhance its digital offerings for healthcare clients. The acquisition strengthens KeyBank's position in serving professional borrowers navigating federal loan programs. This deal reflects growing bank interest in acquiring niche fintechs to deepen client relationships.
Stripe launched Financial Connections, enabling businesses to directly connect to customers' bank accounts for verification and payments. The product competes with Plaid, Finicity, Yodlee, and MX by proxying through providers for banks without APIs. This positions Stripe as middleware bridging fintech applications to legacy banking infrastructure.
Truist Financial acquired Long Game, a fintech startup using gamification to encourage savings among younger users. The team was integrated into Truist's innovation group without a balance sheet transfer. The deal reflects major banks' efforts to attract younger demographics through engaging digital experiences.
Worldline partnered with fintech Algoan to develop a white-label, Open Banking-based credit assessment solution for banks and lenders. The tool uses machine learning algorithms and transaction data to improve credit scoring accuracy. The partnership leverages Worldline's access to over 3,500 banks across 19 European countries.
Token, an open banking API provider enabling account-to-account payments, raised $40 million in a Series C from Octopus Ventures and Element Ventures. The company serves major clients including Mastercard, BNP Paribas, HSBC, and Deutsche Payment across 15 countries. The funding supports Token's expansion of open banking payment infrastructure.