Thread has announced that it has secured USD 30.5 million in funding, with the capital being directed towards its plans to further advance embedded banking.
Including a USD 27.6 million initial raise and a USD 2.9 million extension, the round was led by Portage Ventures and saw participation from Rockmont Partners and other strategic investors.
Next stage of Embedded Banking
With this investment, Thread aims to continue its growth journey and develop its embedded banking strategy, which has, until now, significantly improved the company since its founding in 2021. Thread went from a traditional community institution to a tech-focused community bank, with a customer base that spans across the US. Through its customer-centric model, the financial institution intends to offer embedded digital branches via small business and consumer brands and vertical SaaS companies.
Furthermore, the capital received from the aforementioned investors closely follows a period of expansion for Thread. According to its data, it manages over USD 2 billion in partner deposits and scaled Embedded Deposits by over three times from January 2024 to October 2025. Additionally, the bank entered into several collaborations with industry partners, including LoanPro for embedded lending, as well as Finxact from Fiserv for embedded banking strategies.
By closing this funding round, Thread has now secured over USD 100 million in Tier 1 capital across multiple rounds. Supported by these additional funds, the bank plans to continue this momentum, expanding its embedded banking offerings to advance the industry and solidify its position in the sector.
Talking about the move, Chris Black, CEO, President, and member of the Board of Directors of Thread, underlined the bank’s commitment to using technology to meet customers’ needs and support their financial lives while conducting financial business. With this funding, backed by financial technology and banking investors, Thread emphasises the capabilities of its offering, including its embedded approach and customer-centric vision for banking as a whole.
