Unit raises USD 18.6 mln to offer banking features as a service

Wednesday 9 December 2020 10:05 CET | News

Unit has built a platform that lets third parties integrate banking services like payment cards, checking accounts, cash advances and money transfers into their own businesses by way of an API.

The company has announced that it is open for business with USD 18.6 million in funding alongside that to continue growing — by adding in more features, hiring more people, and securing new users.

The capital is coming from a mix of investors that speak to the company’s Israeli roots and current San Francisco base. It includes Better Tomorrow Ventures,  Aleph, Flourish Ventures, Operator Partners and TLV Partners, as well as 30 angels drawing on a pool of fintech experience among them.

The company’s mission is to make it easier for companies that have customers already doing some kind of transacting work with customers — for example, an on-demand transportation company interacting with its fleet of contract drivers; or an online bookkeeping platform providing services to users — to extend that into a wider and deeper and more loyal relationship with more financial features.

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Keywords: Unit, banking, payment cards, checking accounts, money transfers
Categories: Banking & Fintech
Countries: United States
This article is part of category

Banking & Fintech