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.
UK payments fintech Modulr achieved principal issuing member status with Visa, gaining direct access to Visa's card network without intermediary banks. This enables Modulr to issue Visa cards directly for its clients in travel, alternative banking, and other verticals, strengthening its Payments-as-a-Service platform.
Rapyd announced a full-stack Fintech-as-a-Service solution for Brazil, partnering with Dock (BaaS technology provider), Banco Rendimento, and others. The offering includes white-label e-wallets, local card issuing, cash payments, transfers, boleto, and cards via a single API integration. The launch targets both local and global businesses expanding into the Brazilian market.
Quona Capital closed a $203 million fund sponsored by Accion, targeting financial inclusion-focused fintech companies in emerging markets. The fund aims to back startups providing embedded finance and digital financial services to underserved populations. This represents significant capital flowing into BaaS and embedded finance infrastructure in developing economies.
Larky joined Visa's Fintech Fast Track Program to accelerate integrations for its nudge® platform. The partnership enables financial institutions to enhance mobile banking with geo-targeted communications, loyalty programs, and cross-selling capabilities. Larky gains access to Visa's partner network to scale its BaaS-adjacent engagement tools.
UK-based BaaS provider Thought Machine raised $83 million in a Series B round led by Draper Esprit. Existing investors Lloyds Banking Group, IQ Capital, Playfair Capital, and Backed also participated. The funding supports global expansion including a new US office and entry into North America, Australia, and Japan.
SatchelPay (Satchel.eu) marketed a full white-label Banking-as-a-Service solution enabling fintechs and companies to launch branded online banking apps within two months. The platform included payment cards, IBANs, international transfers, ATM access, and subscription management. SatchelPay handled regulatory compliance and took 50% of commissions on a revenue-sharing model.
nbkc bank partnered with KC Collective to sponsor its Fountain City Fintech (FCF) startup incubator program. The bank provides fintech startups with banking support, compliance expertise, and infrastructure to accelerate from inception to launch in 75 days. This partnership reflects a growing trend of community banks embedding themselves in fintech ecosystems.
CRIF, a global credit and business information provider, announced the acquisition of Strands, a Barcelona-based PFM fintech serving over 6,300 banks globally. The deal strengthens CRIF's open banking capabilities and embedded finance offerings for financial institutions.
Paysafe partnered with Celero Commerce on February 27, 2020, to expand its presence in the US payments market. The partnership combines Paysafe's payment processing capabilities with Celero's merchant services platform. The deal targets SME and enterprise merchants seeking integrated payment solutions.
UK digital banking platform Revolut raised $500 million in Series D funding led by TCV, valuing the company at $5.5 billion. The round included participation from DST Global, Index Ventures, and Balderton Capital. Revolut planned to use the capital to strengthen product development, roll out banking operations in Europe, and increase daily user engagement.
Finastra launched its Fusion Phoenix core banking platform in the cloud via Microsoft Azure. Commerce National Bank & Trust and Commencement Bank were the first U.S. customers. The move enables community banks to access scalable, cloud-native core banking infrastructure, aligning with BaaS and embedded finance trends.
LendingClub announced its acquisition of Radius Bank for $185 million, becoming the first fintech company to acquire a US-regulated bank. The deal was expected to close in 12-15 months with break-even anticipated two years after completion. This landmark transaction reshaped the boundary between fintech platforms and traditional banking.
Varo Money received FDIC deposit insurance approval on February 12, 2020, advancing toward becoming a nationally chartered digital bank. Built on Temenos T24 cloud core, Varo offers features like early direct deposit and no-fee overdrafts. This milestone is significant for the BaaS landscape as it represents a fintech pursuing its own charter.
Revolut launched open banking for UK retail and business customers, partnering with TrueLayer to enable account aggregation. Users can connect external bank accounts to view balances within the Revolut app. This deepens Revolut's embedded finance capabilities and positions it as a financial hub.
Tricolor, an auto loan platform targeting underserved low-credit consumers, raised $30 million in preferred equity. The funding supports scaling its retail network and proprietary credit decisioning engine. The platform exemplifies embedded lending infrastructure for underserved consumer segments.
Finix, a payments infrastructure startup, raised a $35M Series B led by Sequoia Capital. The company positions itself as the 'AWS of payment processing,' enabling businesses to own their payments stack. The round signals growing investor interest in the infrastructure layer powering embedded finance.
Airwallex and Visa partnered to launch Borderless Cards, offering businesses multi-currency card capabilities for international payments. The product debuted at Pause Fest 2020 in Melbourne. It enables businesses to spend globally without foreign exchange markups, embedding payments into Airwallex's cross-border financial platform.
The Bancorp Bank announced an extension of its Banking-as-a-Service relationship with neobank Chime in February 2020. The Bancorp supports Chime's spending and savings accounts as well as debit services. The extension reinforces The Bancorp's role as a key sponsor bank for major consumer fintechs.
The Bancorp Bank became the exclusive card issuer and back-end banking services provider for SoFi Money, a cash management product. The partnership leverages The Bancorp's payments sponsorship platform, ranked as a top issuer of private-label debit and prepaid cards. SoFi members gain physical and virtual debit cards with features including ATM fee reimbursement and P2P payments.
Payments platform Flywire secured $120 million in Series E funding led by Goldman Sachs, achieving a valuation exceeding $1 billion. The funding supports multi-vertical expansion and follows the acquisition of healthcare payments firm Simplee. Flywire provides embedded payment processing across education, healthcare, and travel verticals.
The Monetary Authority of Singapore received 21 applications for five digital bank licenses from fintechs and e-commerce firms. Winners were expected to be announced in June 2020 with operations commencing by mid-2021. This regulatory initiative opens Singapore's banking sector to non-traditional players.
French fintech Bankin' launched Bridge Pay, an API extension of its Bridge infrastructure enabling bank transfer payment initiation directly through apps. The product targets e-commerce for high-value items and B2B payment automation without credit card reliance. Bankin' leverages its aggregation platform serving 4 million users to position itself as a payment initiation API provider for developers.
Temenos announced a global strategic partnership with Google Cloud to make its cloud-native, API-first banking software available on Google Cloud. The partnership enables over 3,000 financial institutions to leverage scalable cloud infrastructure for core banking and digital transformation. This marks a significant alignment between a major banking software provider and a hyperscale cloud platform.
SoFi's leadership announced they had abandoned pursuit of a federal banking charter, opting for alternative growth strategies instead. The decision reflected the difficult regulatory environment for fintech charter applications and signaled continued reliance on partner-bank models.