Search Results for "Banked"
21 results for "Banked"
Deals 20
Dave and Coastal Community Bank Announce Strategic BaaS Partnership
Dave Inc. and Coastal Community Bank's CCBX division announced a strategic BaaS sponsor bank partnership. Coastal Community Bank will serve as the sponsor bank for Dave's banking products and the new ExtraCash product. Customer onboarding is expected to begin in Q2 2025, targeting underbanked communities.
Boost Bank Launches Digital Banking App in Malaysia via Axiata-RHB Partnership
Boost Bank, a joint venture between Axiata Group's Boost and RHB Banking Group, launched its digital banking app in Malaysia targeting unbanked populations. The app offers savings accounts and loyalty services. The venture received its digital banking license from Bank Negara Malaysia in January 2024, and the product went live in June 2024.
Egypt's Zeal Raises $4M for Embedded Payment Solutions for Retailers
Zeal, an Egyptian fintech, raised $4M in January 2024 to expand its embedded payment solutions for retailers. The company enables merchants to accept digital payments, addressing the underbanked MENA market. The round supports Zeal's efforts to embed financial services into retail commerce.
Zenus Launches Fintech Division for Payments and Banking in Puerto Rico
Zenus announced the launch of its fintech division providing payment and banking services for organizations in Puerto Rico and abroad. The move follows the integration of payments processor FUEX into the Zenus brand. This positions Zenus as an embedded banking and payments provider serving underbanked markets in the Caribbean and Latin America.
Finology Closes Pre-Series A to Scale Embedded Finance APIs in APAC
Finology, an APAC embedded finance provider, completed a pre-Series A round led by Silverlake Group with participation from The Hive Southeast Asia and MTDC. The funding will scale its API-powered lending and insurance products targeting underbanked populations. The amount was undisclosed.
Core Bank Joins Banking-as-a-Service Association
Core Bank became a member of the Banking-as-a-Service (BaaS) Association, signaling its commitment to bank-fintech partnerships and serving underbanked communities. The membership aims to promote innovation and safe collaboration between banks and fintechs. Core Bank joins a growing group of community banks embracing BaaS models.
Treasury Prime Joins BaaS Association to Advance Embedded Banking Standards
Treasury Prime announced it joined the Banking-as-a-Service Association, a group representing over 80% of U.S. BaaS sponsor banks. The membership aligns the embedded banking software platform with an industry network promoting compliant banking services, best practices, and access for underbanked communities. The BaaS Association unites banks, fintechs, and tech providers to advance BaaS strategies.
Liberty Bank Joins The BaaS Association to Expand BaaS Strategy
Liberty Bank joined The BaaS Association on March 27, 2023, as part of its broader BaaS strategy. The bank aims to develop best practices and expand services beyond physical locations, including for underbanked communities. The association represents over 80% of U.S. BaaS sponsor banks. The membership underscores growing coordination among sponsor banks.
Sunrise Banks Joins The BaaS Association to Advance Standards
Sunrise Banks joined The BaaS Association on March 21, 2023, to support education, compliance, and standards for Banking-as-a-Service. The bank emphasizes serving underbanked communities through its fintech partnerships. Jason Hagan, SVP director of fintech innovation, highlighted the association's value for fintech-minded banks. The move aligns with broader BaaS ecosystem growth among U.S. sponsor banks.
Credable Raises Funding for Emerging Markets Embedded Banking Infrastructure
Credable, a digital banking infrastructure startup focused on emerging markets, secured funding to expand its embedded banking platform. The company enables businesses to offer savings, loans, and overdrafts to unbanked customers through bank partnerships. With over 1.2 million accounts opened, Credable positions itself as a Unit-like BaaS provider for developing economies.
Alviere Signs Grupo Coppel to Launch Embedded Finance Mobile Wallet
Alviere announced Grupo Coppel, Mexico's largest non-food retailer, as a client for its embedded finance platform. Coppel plans to launch 'Coppel Access,' a mobile wallet offering accounts, cards, payments, global money transfers, and crypto services to unbanked and underbanked consumers in the U.S. This partnership highlights the growing role of BaaS platforms in enabling non-financial enterprises to offer comprehensive financial services.
Quaint Oak Bank Joins BHB Banking-as-a-Service Association as Sponsor Bank
Quaint Oak Bank announced it joined the Bankers Helping Bankers (BHB) BaaS Association as a sponsor bank. The membership positions the community bank within a governance group focused on compliant BaaS solutions for banks partnering with fintechs. The move aims to serve underbanked communities through fintech partnerships delivering accessible banking services.
Banked Raises $15M Series A Extension to Expand Pay-by-Bank Network
Banked secured an additional $15M Series A extension from Insight Partners, Citi, National Australia Bank Ventures, and Rapyd to grow its pay-by-bank payment network. The platform enables merchants to accept direct bank payments without card networks. Strategic investment from multiple banks underscores the embedded finance potential of account-to-account payment infrastructure.
Bank of America and Banked Expand Pay by Bank to Euro Payments
Bank of America and UK fintech Banked Ltd expanded their Pay by Bank solution to support real-time euro currency payments for e-commerce. The partnership builds on the UK launch in February 2022, enabling consumers to pay directly from their bank accounts. This broadens embedded payment options for merchants across European markets.
Green Dot and Plaid Partner to Connect GO2bank Customers via Open Finance APIs
Green Dot and Plaid partnered to enable GO2bank customers to securely connect their accounts to over 6,000 Plaid-powered apps via open finance APIs. The integration improves data connectivity for Green Dot's digital banking customers. This expands embedded finance access for underbanked consumers using Green Dot's platform.
Banked Raises $20M Series A Led by Bank of America
UK-based BaaS and Pay by Bank fintech Banked raised $20 million in a Series A round led by Bank of America and Edenred Capital Partners. The round brought total funding to over $30 million. Proceeds will support US expansion and development of Banked's two-sided payments network for businesses and consumers.
dopay Raises $18M Series A for Virtual Banking Platform
dopay, a B2B2C payments and virtual banking platform serving unbanked workers in emerging markets, raised $18 million in Series A funding. The round was led by Force Over Mass Capital, FMO, and NN Group, with participation from Mbuyu Capital and Alder Tree Investments. Funds will be used to scale operations in Egypt and expand services beyond cashless payroll and prepaid cards.
Pngme Raises $15M Series A for African Financial Data Infrastructure Platform
African fintech Pngme raised $15 million in Series A funding for its financial data infrastructure platform. The company provides APIs, mobile SDKs, and machine learning services to help fintechs and banks serve underbanked populations. The round highlights growing investment in API-based data infrastructure for emerging market embedded finance.
pawaPay Raises $9M Seed for Single-API Mobile Money Payments in Africa
African fintech pawaPay raised $9 million in seed funding for its single-API platform connecting businesses to telco mobile money systems. The platform handles payments, compliance, and bank accounts for underbanked populations across Africa. The round supports expansion of mobile money-based embedded finance infrastructure.
Mobile Bank Current Raises $220M Series D at $2.2B Valuation
Current, a mobile banking and payments platform, raised $220M in a Series D round led by Andreessen Horowitz, tripling its valuation to $2.2 billion. The round brought total funding to $402.4M. Current offers embedded banking services including direct deposit, debit cards, and savings features targeted at underbanked consumers.