Search Results for "NEA"
21 results for "NEA"
Deals 20
Kinective Partners with PayNearMe to Expand Payment Solutions
Kinective partnered with PayNearMe in March 2026 to expand payment solutions for banks and credit unions. Kinective Gateway will provide financial institutions access to fintech solutions through a portfolio of core and business services. The partnership aims to broaden the range of payment capabilities available to community banks and credit unions.
US Sponsor Banking Sector Grows Nearly 10% With Over 100 Banks Active
U.S. sponsor banks grew nearly 10% year-over-year, with over 100 banks now active in the space. Success is increasingly tied to selective fintech partnerships emphasizing compliance readiness and recurring revenue. Pathward highlights AI and embedded finance as the next frontier for sponsor banking evolution.
Slash Raises $41M Series B for Vertical Business Banking Platform
Slash secured a $41M Series B at a $370M valuation led by Goodwater Capital, NEA, and Menlo Ventures. The company provides industry-specific business banking including checking accounts and payment cards. The round supports its challenge to one-size-fits-all banking with tailored vertical financial solutions.
Core10 and PayNearMe Partner to Modernize Loan Repayments via Middleware
Core10 and PayNearMe announced a banking-as-a-platform middleware partnership enabling financial institutions to integrate modern payment options like PayPal, Venmo, and cash at retail locations into their core banking systems. The integration uses Core10's Mesh middleware platform. This deal accelerates deployment timelines to weeks and streamlines reconciliation for banks and credit unions.
Class-Action Lawsuit Targets Evolve and Partner Banks Over Synapse Bankruptcy Fallout
A class-action lawsuit was filed against Evolve Bank & Trust, Lineage Bank, AMG National Trust, and American Bank over mishandled customer deposits following Synapse's April 2024 bankruptcy. Customers of fintechs like Yotta and Juno report receiving pennies on the dollar, with up to $95 million in funds reportedly unaccounted for.
Janea Systems Builds Middleware for Fintech CUSO to Integrate Legacy Banking Cores
Janea Systems partnered with a leading fintech Credit Union Service Organization (CUSO) to develop custom middleware connecting legacy core banking systems with a loan decision engine. The solution supports multiple banking cores while reducing third-party dependencies. It serves as an abstraction layer enabling fintech applications without requiring full core banking replacement.
FDIC Issues Consent Order Against Thread Bank Over BaaS Oversight Failures
The FDIC issued a consent order against Thread Bank, a BaaS sponsor bank, for inadequate oversight of its fintech partners in embedded finance. The order, issued in May 2024 and made public in July, requires enhanced risk assessments and board-approved thresholds for fintech partnerships. This was part of a broader wave of regulatory actions targeting over 25% of FDIC-supervised BaaS banks in 2024.
Capital One Announces $35 Billion Merger With Discover Financial
Capital One proposed a $35 billion merger with Discover Financial, which would create the nation's largest credit card issuer with 19% market share. The deal forced regulators to confront outdated bank merger policies unchanged for nearly 30 years. It highlighted consolidation pressures affecting the fintech-banking ecosystem.
Unit Launches White-Label App for Embedded Banking and Lending
Unit introduced its White-Label App enabling software companies to launch branded embedded banking and lending products with a single line of code. The product reduces development timelines from 6-12 months to near-instant deployment. This significantly lowers the barrier for non-financial platforms to offer banking services through BaaS infrastructure.
Cross River Partners with Pay.com for Embedded Payments Platform
Cross River and Pay.com partnered to build simplified embedded finance systems for US business payments. The collaboration leverages Cross River's banking infrastructure to scale Pay.com's payment capabilities amid projected embedded finance market growth to nearly $7 trillion by 2030.
HMBradley Partners with NYCB as New Sponsor Bank Replacing Hatch Bank
Neobank HMBradley partnered with New York Community Bank (NYCB), a division of Flagstar Bank, as its new sponsor bank, replacing Hatch Bank. The switch enabled HMBradley to end a 16-month waitlist for over 25,000 users and support scaling deposits toward $1 billion. At the time of the announcement, HMBradley held nearly $600 million in deposits.
Plastiq Acquires SMB Fintech Nearside for $130 Million
Plastiq acquired Nearside, a fintech offering SMB banking, lending, and credit products, for $130 million. The deal strengthens Plastiq's position in small business financial services. Nearside's embedded banking and credit capabilities complement Plastiq's payments platform.
Synapse Partners with Lineage Bank to Expand BaaS Platform
Synapse announced a partnership with Lineage Bank, adding the Tennessee-based bank as a sponsor bank on its BaaS platform. Lineage provides FDIC deposit insurance, payment processing, and card issuance to fintechs using Synapse. The deal supports Synapse's multi-bank strategy to help fintechs launch regulated financial products faster.
BNP Paribas Showcases White-Label Fintech Integrations at VivaTech 2022
BNP Paribas presented embedded finance partnerships at VivaTech 2022, featuring integrations with fintechs Instanea (open banking payments via Token), SIS ID (blockchain fraud prevention), and HOKODO (B2B BNPL). The bank supports startups through white-label embedding, technical assistance, and partnership models to enhance its payment services offering.
Current Launches Platform API to Enable Embedded Banking Experiences
Current, a U.S. fintech with nearly 4 million customers, launched its Platform API to enable embedded banking integrations. The API allows customers to link accounts to over 6,000 apps via Plaid without sharing banking credentials. The launch positions Current as an open banking enabler using phone number and device authentication.
Amount Acquires Linear Financial Technologies for $175M
Fintech infrastructure provider Amount acquired Linear Financial Technologies for $175 million in cash and stock. The deal combines consumer and business banking technology, serving major banks including TD, Regions, American Express, and PNC. The acquisition expands Amount's ability to offer end-to-end digital banking and lending solutions to financial institutions.
Mercury Financial Extends Sponsor Bank Partnership with First Bank & Trust Through 2025
Mercury Financial extended its sponsor bank partnership with First Bank & Trust (FB&T) through 2025, supporting the expansion of its digital financial services for near-prime customers. FB&T serves as the bank issuer and payment model behind Mercury's fintech platforms. The renewal signals long-term commitment to the embedded finance relationship.
Synctera Adds Regent Bank as BaaS Sponsor Bank Partner
Synctera announced Regent Bank as a new community banking partner for its BaaS platform, joining existing partners Coastal Community Bank and Lineage Financial Network. The partnership expands Synctera's sponsor bank network as it targets 15 community bank partners by end of 2021. Regent Bank, based in Oklahoma, aims to grow its fintech servicing capabilities through the marketplace.
The Bancorp Partners with Current as BaaS Sponsor Bank
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.
Unit Raises $51M Series B to Grow Banking-as-a-Service Platform
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.