Search Results for "Backed"
20 results for "Backed"
Deals 20
EDX Markets Applies to OCC for National Trust Bank Charter
EDX Markets Holding Company, backed by Charles Schwab, Citadel Securities, Fidelity Digital Assets, and others, filed an application with the OCC for a de novo national trust bank charter for EDX Trust, National Association. The proposed Chicago-based trust bank would provide digital asset custody, asset management, and settlement services exclusively for institutional clients. The application was made public on April 1, 2026.
Spade Raises $40M Series B for Payment Transaction Data Infrastructure
Spade, a U.S.-based data infrastructure startup, raised $40 million in Series B funding led by Oak HC/FT. Andreessen Horowitz and Y Combinator also backed the round. Spade converts raw payment transaction data into structured data with 99.9% coverage of U.S. and Canadian merchants.
Capital On Tap Closes £500M Securitization for SME Credit Cards
Capital On Tap closed a £500 million asset-backed securitization dubbed 'London Cards 3' to fund its small business credit card operations. The deal provides long-term, scalable funding for the fintech's embedded credit products amid tightening lending conditions.
Standard Chartered Becomes Sponsor Bank for DeCard Stablecoin Credit Card
Standard Chartered became the principal banking partner for DCS Card Centre's DeCard stablecoin credit card, providing transaction banking, settlement, and liquidity services. DeCard originally launched in May 2025 with Visa. This sponsor bank arrangement enables stablecoin-backed consumer card payments on traditional rails.
Palmer Luckey's Erebor Digital Bank Awaits OCC Charter Approval
Erebor, the digital bank backed by Palmer Luckey, had not received OCC approval as of August 7, 2025, despite submitting its application in June 2025 with expectations of approval by late 2025. Industry experts suggested the timeline was unrealistically optimistic, noting that bank charter approvals typically take a year or longer.
Quantix Secures $500M Citi Securitization for Embedded Lending Platform
Quantix, a subsidiary of Astra Tech, secured $500M in asset-backed securitization from Citi — the largest UAE fintech deal. The funds will scale its CashNow embedded lending platform for gig workers and SMEs. The deal highlights embedded finance via API integrations into non-financial apps.
YouLend Secures $1B+ Financing Facility with Castlelake for US SMB Lending
Embedded finance platform YouLend announced a $1B+ financing facility backed by Castlelake to fund revenue-based lending for U.S. small businesses. The lending is embedded within e-commerce platforms such as Shopify and eBay. This significant capital commitment enables YouLend to scale its embedded SMB lending operations in the U.S. market.
Defacto Launches White-Label Lending-as-a-Service Platform for Banks
Defacto introduced Defacto Core, a customizable white-label Lending-as-a-Service platform aimed at banks and lenders serving SMBs. The platform emphasizes regulatory compliance, backed by Defacto's French ACPR financing license. This enables banking partners to embed lending products under their own brand with reduced compliance burden.
Skyfire Raises $8.5M to Build AI-Native Global Payment Network
Skyfire raised $8.5 million to develop a global AI payment network featuring secure wallets and agent identities for autonomous transactions. The round was backed by Neuberger Berman, Brevan Howard Digital, and others. The platform targets the emerging market for machine-to-machine and AI-agent financial transactions.
Conduit Raises $6M to Expand Cross-Border Payments API into Africa
Conduit raised a $6 million seed extension to expand its B2B cross-border payments API from Latin America into Africa. Backed by Helios Digital Ventures, the platform enables USD transfers via ACH and SWIFT without requiring a U.S. entity. The expansion addresses a critical gap in cross-border payment infrastructure for emerging markets.
Fragment Raises $9M Seed Round Backed by Stripe and Plaid Executives
Fragment, a fintech infrastructure startup, announced a $9 million seed round bringing total funding to $10.8 million. Investors include executives from Stripe and Plaid. Fragment provides an API to compose fund flows, generate code, and embed financial products into applications, targeting developers building on banking rails.
French Fintech Powens Acquires Spanish EMI Unnax for Open Finance Expansion
French open finance firm Powens completed its acquisition of Unnax, a Spanish electronic money institution specializing in open finance and embedded banking. The deal, approved by Banco de España, creates Powens Group with combined capabilities spanning Europe and Latin America. The acquisition is backed by PSG Equity and strengthens Powens' position in embedded banking infrastructure.
Mastercard Partners with SAVA Backed by Access Bank to Serve African SMEs
Mastercard partnered with South African fintech SAVA to deliver expense management tools for small businesses across Africa. Access Bank serves as SAVA's sponsor bank in South Africa, providing the regulatory banking infrastructure. The partnership leverages SAVA's Payment Transaction System and targets SMEs in South Africa, Nigeria, Kenya, and Egypt.
WealthOS and Quai Digital Partner on White-Label Wealth Management Platform
Barclays-backed WealthOS became the strategic technology partner for Quai Digital's B2B white-label wealth management outsourcing platform. The partnership supports over 200,000 accounts and enables new products like digital pensions. This extends embedded finance into the wealth management vertical for banks and fintechs.
GXS Bank Secures $109M to Scale Singapore Digital Banking Operations
GXS Bank, Singapore's digital bank backed by Grab Holdings, raised $109M in January 2024. The digital bank was established as part of Singapore's digital banking license initiative, enabling Grab to embed financial services into its super-app ecosystem. The raise supports GXS Bank's growth in embedded finance for Southeast Asian consumers.
APX Lending Launches Bitcoin-Backed Lending Platform for Banks
APX Lending launched a Bitcoin-backed lending platform in August 2023, offering a B2B SaaS solution that enables banks and financial institutions to expand their lending offerings via crypto-collateralized loans. The platform is designed to help traditional banks integrate crypto lending without building proprietary infrastructure.
Stronghold Launches StrongholdNET Payments Ecosystem with Blockchain Integration
Stronghold launched StrongholdNET, a payments ecosystem integrating blockchain technology with merchant financing, card processing, and ACH transfers. The platform expanded Stronghold's Merchant Financing Program with DeFi-backed cash advances. It combines traditional payment rails with blockchain-based settlement.
Brassica Raises $8M Seed for Investment Infrastructure-as-a-Service API
Brassica Technologies closed an $8 million seed round backed by Mercury Fund, Valor Equity Partners, and others. Its subsidiary, Brassica Trust Company, holds a Wyoming Trust Charter and provides API-enabled custodial and transfer agent services for alternative assets, marketed as investment infrastructure as a service.
Infinant Completes Financing to Expand BaaS Interlace Platform
Infinant completed a round of financing backed by FintTop Capital and JAM FINTOP BankTech to expand its Interlace platform. The cloud-based platform helps US banks launch and scale banking-as-a-service and embedded finance programs above their core banking systems.
Nordax Bank and NOBA Bank Group Complete Merger
Nordax Bank and NOBA Bank Group completed their merger in November 2022, later rebranding as NOBA Bank Group in 2023. The combined entity focuses on consumer finance and digital banking experiences across the Nordics. The deal was backed by Nordic Capital.