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.
Transcard launched SMART Disburse, a disbursement platform supporting multiple payment types including ACH, virtual cards, RTP, and Mastercard Send. The platform features embedded payment capabilities that integrate with legacy software and ERP systems via APIs. It enables businesses to pay suppliers and individuals through a single interface.
Dinie, a São Paulo-based API-first embedded lending fintech, raised a $3.8 million seed round co-led by Accion Venture Lab and K50 Ventures. The company also secured $20 million in debt financing from Empirica Investimentos. Dinie embeds credit products into e-commerce platforms like iFood and Elo7 to serve micro, small, and medium enterprises in Brazil.
Kraken Bank, operating under a Wyoming Special Purpose Depository Institution (SPDI) charter, applied for a Federal Reserve master account on July 12, 2021. The application raised significant policy questions about fintech and crypto firm access to Fed payment infrastructure. The request remained pending, becoming a focal point for debates on non-traditional bank access to core banking services.
Finzly and ICBA Bancard partnered to offer instant payments to community banks via Finzly's Payment Galaxy hub. The platform supports ACH, wires, RTP, and future FedNow connectivity. This gives community banks access to modern payment rails typically available only to larger institutions.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.