Search Results for "Neo"
20 results for "Neo"
Deals 20
Ualá Raises $195M to Scale Embedded Insurance Across Latin America
Argentine neobank Ualá closed a $195 million equity financing round led by Allianz X, reaching a $3.2 billion post-money valuation. The funds will support Latin America expansion and embedded insurance scaling. This positions Ualá as a major embedded finance player in the LATAM region.
Neo Financial Raises $68.5M to Expand Canadian Digital Banking Platform
Neo Financial, a Canadian digital-first banking and financial products company, raised $68.5M in equity funding. The round supports the launch of a securitization program and continued platform expansion. Neo Financial offers embedded banking products in the Canadian market.
CommerceOne Acquires Green Dot Bank to Form Sponsor Bank Holding Company
CommerceOne Financial is acquiring Green Dot Bank's charter and ~$5 billion in assets to create a new publicly traded bank holding company. Simultaneously, Smith Ventures is acquiring Green Dot's non-bank fintech operations for $690 million. A seven-year exclusive agreement positions CommerceOne as the sponsor bank for the fintech business. The deals are expected to close in Q2 2026 pending regulatory approval.
Gemba Joins JPMorgan Chase Fintech Forward Accelerator in September 2025
Gemba joined JPMorgan Chase's 12-week Fintech Forward Programme in September 2025, an accelerator providing early-stage fintechs with mentorship, networks, and scaling support. The program targets neobanks and digital finance startups. JPMorgan's involvement signals continued big-bank investment in fintech ecosystem development.
Capital One Receives Conditional Approval to Acquire Discover Bank
Federal regulators conditionally approved Capital One's acquisition of Discover Bank, while simultaneously penalizing Discover $100 million. This deal combines two major card-issuing banks and has significant implications for the payments and BaaS landscape. The merger creates a combined entity with substantial scale in cards and payments infrastructure.
Mashreq Bank Sells Majority Stake in Paytech Neopay for $385M
Mashreq Bank sold a majority stake in its payments subsidiary Neopay to a consortium including Dgpays and Arcapita for $385 million, retaining a minority position. The deal separates Neopay's embedded payments infrastructure from the parent bank to enable independent growth.
NovoPayment Receives $20M from Morgan Stanley Expansion Capital
NovoPayment secured a $20M investment from Morgan Stanley Expansion Capital for its API-driven digital banking and payments SaaS platform. The company serves banks, neobanks, and merchants with scalable, compliant infrastructure. The funding will support product expansion and continued market growth in Latin America and beyond.
Neo Financial Raises $360M to Challenge Traditional Banks in Canada
Canadian challenger bank Neo Financial raised $360M to accelerate growth and position itself as a leading alternative to traditional banks. Notable investors include Shopify founder Tobi Lütke, Slack founder Stewart Butterfield, and Valar Ventures. The round signals strong demand for embedded banking alternatives in Canada.
Mbanq Launches White-Label Mobile Digital Banking Apps as BaaS Solution
Mbanq launched a new suite of white-label mobile digital banking apps designed for credit unions, banks, neobanks, fintechs, and brands. The apps support web, Android, and iOS with full branding customization. The offering includes digital onboarding with KYC/KYB, deposit and loan origination, card issuance, and domestic/cross-border payments, aiming to reduce development costs and accelerate time-to-market.
Fidelity Bank Launches ANDI Digital Bank Powered by Helix
Fidelity Bank launched ANDI, a new digital bank serving communities across Louisiana, powered by Helix's BaaS technology platform. Helix, a Q2 subsidiary, provided the core banking infrastructure enabling the digital-first experience. This launch demonstrates community banks leveraging BaaS technology to compete with neobanks.
Neonomics and Bislab Partner on Embedded Finance for Financial Institutions
Neonomics and Bislab announced a partnership to develop embedded finance solutions for financial institutions and insurance companies. The collaboration combines Neonomics' open banking infrastructure with Bislab's industry expertise. The partnership targets the European financial services and insurance markets.
Mastercard Highlights Fintech Co-Creation Strategy Serving 80% of Top Digital Players
Mastercard announced its deepened co-creation strategy with fintechs, revealing it serves 80% of top digital payment and neobank players. The initiative emphasizes embedded payment partnerships amid the broader fintech funding slowdown.
Trigger Software Partners with Mambu to Launch Neobank Engine
Trigger Software partnered with cloud-native banking platform Mambu to launch Neobank Engine, a pre-configured middleware solution. The product includes 300+ screens and 150+ processes covering KYC, onboarding, and payments. It enables neobank launches in as little as three months at fixed cost.
Mercury Ends Middleware Contract with Synapse in Late 2023
Neobank Mercury terminated its contract with BaaS middleware provider Synapse, triggering layoffs at Synapse. The move reflects a broader industry trend of mature fintechs seeking direct bank relationships to reduce intermediary layers. This signals growing challenges for middleware-dependent BaaS models amid regulatory pressure.
Novo Integrates Gusto to Offer Embedded Payroll for Small Businesses
Novo announced an integration with Gusto, combining banking and payroll services through an embedded payroll solution for small businesses. The partnership allows Novo's SMB customers to manage banking and payroll in a unified experience. This reflects the trend of neobanks embedding adjacent financial services to deepen customer relationships.
The Bancorp Bank and Chime Extend Private-Label Banking Partnership
The Bancorp Bank extended its private-label banking services agreement with Chime Financial, renewing its role in holding Chime member deposits and supporting FDIC-insured services. This continuation of one of the largest BaaS relationships in the U.S. underscores the ongoing importance of sponsor bank partnerships for leading neobanks. The deal reinforces The Bancorp's position as a top-tier BaaS provider.
B2B Fintech Plastiq Files Bankruptcy, Enters Sale Deal With Priority Technology
B2B payments fintech Plastiq filed for bankruptcy on May 25, 2023, and simultaneously entered a sale agreement with Priority Technology Holdings. Plastiq had enabled businesses to make payments via credit card on invoices that typically required other payment methods. The deal marks a notable failure in the B2B embedded payments space.
Conduit Raises $7M Seed for Crypto-Native API Infrastructure
Conduit, a crypto-native infrastructure platform, raised $7M in seed funding led by Paradigm. The company provides API infrastructure enabling fintechs and neobanks to launch high-yield savings and crypto products quickly. The funding supports regulatory compliance tooling and low-cost go-to-market strategies for embedded crypto offerings.
Synctera Raises $15.5M Series A Extension for BaaS Sponsor-Bank Network
Synctera, a BaaS platform that builds sponsor-bank networks, raised $15.5M in a Series A extension led by Andreessen Horowitz (a16z) and Neo. The round brought total funding to $36M. The investment came amid growing regulatory scrutiny on BaaS partnerships and sponsor-bank relationships.
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.