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.
Ally Lending announced a partnership with Sezzle to offer retail lending options to consumers. The deal pairs a bank-backed lender with a BNPL-style fintech, extending embedded finance into point-of-sale credit. This represents an early example of traditional banks collaborating with installment payment fintechs.
Cross-border payments fintech dLocal raised $200 million led by General Atlantic, achieving a $1.2 billion valuation and becoming Uruguay's first fintech unicorn. The platform enables global enterprises to process payments in emerging markets. The round highlights growing investor appetite for embedded cross-border payments infrastructure.
Truist Financial Corporation, the sixth-largest U.S. bank, unveiled Truist Ventures as its dedicated venture capital division focused on fintech investments. The launch was announced alongside its first investment in payments platform Veem. This signals Truist's strategic commitment to bank-fintech partnerships.
Payments platform Veem closed a $31 million funding round led by Truist Ventures, the newly launched corporate venture capital arm of Truist Financial. The round also included MUFG Innovation Partners and AB Ventures. The investment reflects growing bank interest in fintech payments infrastructure.
Italian PayTech firm Nexi partnered with Meniga, a provider of white-label digital banking solutions, to integrate personal and business financial management tools into Nexi's partner banks' apps. The deal leverages PSD2 open banking regulations to enhance digital banking experiences for individuals and small businesses across Nexi's bank network.
First Horizon Bank partnered with fintech Interchecks to launch ClearPath Fast Payments, a white-label payout platform for treasury clients. The platform enables instant payments via Visa Direct, ACH, and checks through API integration or a turnkey portal branded under First Horizon. This deal exemplifies banks embedding fintech-powered payment infrastructure to serve commercial clients.
Jiko completed its acquisition of Mid-Central Federal Savings Bank on September 4, 2020, becoming the first fintech to purchase a US-regulated bank. The deal received approvals from the OCC and the Federal Reserve Bank of San Francisco. Acting OCC Comptroller Brian Brooks praised the acquisition as a milestone for fintech maturity.
PayPal Ventures made a strategic investment in Neon, a Brazilian digital banking fintech. The investment strengthens PayPal's presence in the fast-growing Latin American fintech market. Neon offers digital accounts and financial services to underbanked consumers in Brazil, aligning with embedded finance trends in the region.
Banco Santander spun out its fintech venture capital arm Santander InnoVentures into an independent entity called Mouro Capital, doubling allocated funds to $400 million. Mouro Capital will invest in fintechs and financial services businesses globally. The move gives the fund greater operational independence while maintaining Santander's backing.
Intuit partnered with Green Dot as its BaaS sponsor bank to launch QuickBooks Cash, an AI-powered primary banking product for small businesses. Green Dot's CEO highlighted the deal during a summer 2020 earnings call, projecting millions of new accounts. The partnership represents a significant expansion of embedded finance into small business banking.
UK clearing bank ClearBank became the first clearing bank to offer multi-currency bank accounts via API, supporting over 30 currencies. The service enables fintechs and regulated financial institutions to access real-time payment services and banking functionality. This positions ClearBank as a key BaaS infrastructure provider in the UK and European market.
MX announced Portal, a new open banking API product enabling financial institutions and fintechs to embed data connectivity into their platforms. The product facilitates secure data sharing and account aggregation. Portal strengthens MX's position as infrastructure for embedded finance use cases.
NovoPayment and Visa launched a white-label Banking-as-a-Service platform enabling instant virtual account issuance and disbursements for banks and fintechs across Latin America and the Caribbean. The solution supports self-enrollment with biometric validation, instant virtual account creation, and optional contactless cards. It can be deployed in as little as 10 weeks, targeting issuing banks and fintechs seeking faster digital onboarding and financial inclusion.
Ally Financial partnered with Mastercard's Vyze platform to expand its financing capabilities into retail point-of-sale lending. The partnership enables Ally to offer embedded consumer financing at the point of purchase through Vyze's multi-lender marketplace. This marks Ally's entry into embedded retail lending beyond its core auto finance business.
TechCrunch reported on Max Levchin's vision for fintech's next opportunities, spotlighting how companies like Stripe Capital, Square Capital, Brex, and Shopify Capital were leveraging merchant transaction data to offer embedded lending products. This approach of using real-time cash flow data for creditworthiness was framed as the future of credit scoring.
Moov Financial, an open-source Banking-as-a-Service platform, raised $5.5 million in a seed round led by Bain Capital Ventures. The round included participation from Canapi Ventures, Commerce Ventures, Gradient Ventures, RRE Ventures, Uncorrelated Ventures, Veridian Credit Union, and 27 angel investors. Moov enables companies to embed financial services like receiving funds, storing value, and remittances via a single API with a developer-first, modular approach.
BankMobile Technologies, a subsidiary of Customers Bank, announced a business combination with Megalith Financial Acquisition Corp (MFAC) to bring its digital BaaS platform to the public market. The deal values the enterprise at $140 million. BankMobile serves over 2 million accounts across 722 college campuses and powers digital banking for partners like Google and T-Mobile.
Volante Technologies, a cloud-based payments and financial messaging solutions provider, raised $35 million in growth equity led by Wavecrest Growth Partners. Strategic investors included BNY Mellon, Citi Ventures, PostePay, and Visa Inc. The company's VolPay platform uses cloud-native microservices to power payment rails for major financial institutions.
Google expanded its digital banking initiative by partnering with six additional U.S. banks, including BMO and BankMobile, to offer digital bank accounts managed through Google Pay. The partnerships leverage BaaS infrastructure to embed banking services within Google's ecosystem. This signals big tech's deepening engagement with bank-fintech distribution models.
Coastal Community Bank expanded its Banking-as-a-Service operations including a partnership with Google for deposits and loans. The community bank adopted a pay-as-you-go and subscription revenue model with near-zero customer acquisition costs. This illustrates how smaller banks can compete in embedded finance through BaaS partnerships with big tech.
Industry analysis identified embedded finance as a $7 trillion market opportunity over ten years, with Stripe (valued at $36B) and Square ($57B) positioned as leaders. Payment facilitation companies were enabling platforms and online businesses to seamlessly integrate financial services, representing a paradigm shift in financial services distribution.
Open Payments, a Swedish fintech focused on open payments infrastructure, raised €3 million (~$3.5 million) in seed funding led by Industrifonden with participation from existing investor Brightly Ventures. The round supports the company's mission to build API-based payment infrastructure aligned with Europe's open banking regulations.
TD Bank extended its 15-year payments processing partnership with TSYS through a new multi-year deal signed in early August 2020. TSYS continued to provide core payments infrastructure for TD Bank's card and transaction processing. The renewal underscored the ongoing reliance of major banks on specialized payments processors.
Varo Money received full approval from the OCC, FDIC, and Federal Reserve on July 31, 2020, becoming the first consumer fintech in U.S. history to obtain a national bank charter. This allowed Varo to launch Varo Bank, N.A. on August 1, 2020, offering FDIC-insured banking services nationwide. The milestone marked a major shift in the competitive landscape between fintechs and traditional banks.