Lead
Lead Bank is a Kansas City-based, FDIC-insured state-chartered bank operating a Banking-as-a-Service platform that provides fintechs and digital asset companies with API-based lending, payments, card issuing, and FDIC-insured account infrastructure, alongside traditional personal and business banking services.
- Company typePrivate
- Founded1928
- HeadquartersKansas City, United States
- Headcount251–500
- GTM typeB2B and B2C
- OfferingServices
What Lead does
Lead Bank operates as both a state-chartered FDIC-insured community bank and a Banking-as-a-Service (BaaS) platform headquartered in Kansas City, Missouri. Originally chartered as Garden City Bank in 1928 and refounded as Lead Bank in 2010, the institution was acquired in 2022-2023 by Luna Parent, Inc. for approximately $56 million, led by a group of investors including current CEO Jackie Reses, a former Square/Block executive. The company serves two primary customer bases: fintech and digital asset companies requiring compliant banking infrastructure, and traditional small businesses and consumers seeking standard banking products.
The BaaS platform consists of modular APIs branded as Lend (embedded credit, term loans, lines of credit, BNPL), Move (ACH, instant payments, wires, international wires, stablecoin transfers), Issue (physical and virtual credit and debit card issuing), and Store (FDIC-insured multi-currency accounts). Underlying technical capabilities include stablecoin settlement across multiple blockchain networks (Solana, Ethereum, Polygon, Arbitrum, Base, Stellar, Avalanche, XRPL), 24/7 settlement including weekends and holidays, and integration with Visa, Mastercard, and Stripe's Bridge platform for stablecoin-backed card issuance. The firm also operates traditional banking channels through two Missouri branches and a direct-to-consumer digital platform at lead.bank.
Lead generates revenue through BaaS API fees (transaction processing, account maintenance, card issuing), interest income from lending products and deposits, stablecoin and digital asset service fees, and traditional banking fees on personal and business accounts. Major BaaS partners include Affirm, Ramp, Revolut, Branch, River, Lightspark, Phantom, and MetaMask. The company achieved revenue of $107 million for the first nine months of 2023 with $12 million in net income and total assets of $951 million, and closed a $70 million Series B funding round in September 2025 at a $1.47 billion post-money valuation led by ICONIQ and Greycroft. In December 2025, Lead acquired Loop Crypto to expand its stablecoin payment infrastructure.
Lead firmographics
Firmographics- Name
- Lead
- Legal name
- Lead Bank
- Website
- https://lead.bank
- Company type
- Private
- Founded year
- 1928
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Lead Bank is a Kansas City-based, FDIC-insured state-chartered bank operating a Banking-as-a-Service platform that provides fintechs and digital asset companies with API-based lending, payments, card issuing, and FDIC-insured account infrastructure, alongside traditional personal and business banking services.
- Ownership category
- akta.pro rank
Lead industry classification
Industry- Product category
- Banking-as-a-Service
- NAICS
- Commercial Banking (52211)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- BaaS Platforms & Sponsor Bank Enablement (FSAGALAA)
- akta.pro secondary industries
- Open Banking, Account Aggregation & Payment Initiation APIs (BPAMAFAJ), A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF)
Keywords
Where Lead is headquartered
LocationHeadquarters
- HQ city
- Kansas City
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
Lead business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Supply Chain
Revenue model
- Banking-as-a-Service (BaaS) Fees: Revenue generated from providing banking infrastructure APIs to fintech partners, including transaction processing fees, account maintenance fees, and card issuing fees
- Interest Income: Traditional bank interest income from lending products (term loans, lines of credit) and interest earned on deposits
- Stablecoin and Digital Asset Services: Revenue from stablecoin settlement, crypto banking services, and digital asset infrastructure for fintech and crypto company partners
- Business and Personal Banking: Traditional banking revenue from personal and business checking, savings, and investment accounts including service fees and interest spread
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom Business Banking Pricing |
| Subscription | Monthly | Lead Savings Account |
| Subscription | Monthly | Lead Money Market Account |
| Unit Pricing | Multi-year contract | Certificates of Deposit (CD) |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
Lead product offering
Product offeringCore offering
Lead Bank is a state-chartered FDIC-insured bank that operates a Banking-as-a-Service (BaaS) platform providing modular APIs for fintech and crypto companies to embed lending (term loans, lines of credit, BNPL), money movement (ACH, instant payments, wires, international wires, stablecoin transfers), card issuing (physical/virtual debit and credit cards), and FDIC-insured account capabilities into their products. The bank also serves personal and business banking customers directly through traditional deposit, savings, and loan products via its website and two Missouri branch locations.
Product overview
Lead Bank operates as both a traditional community bank and a Banking-as-a-Service (BaaS) platform. The BaaS offering consists of the Partner Platform with modular capabilities: Lend (embedded credit products), Move (global money movement including stablecoin transfers), Issue (card issuing), and Store (FDIC-insured accounts). Traditional banking includes personal checking, savings, investment savings, and business banking products. The company also issues co-branded credit cards including the Atlas Card and Nibbles Pet Rewards Mastercard, and acquired Loop Crypto for stablecoin payment capabilities. Lead provides infrastructure for fintech and crypto companies to embed financial services.
Differentiator
Problem solved
Functional benefit
Brands
- Loop: Stablecoin payments company acquired by Lead Bank in December 2025, now operating as part of Lead's stablecoin infrastructure.
Products and services
- Partner Platform (BaaS)
- Personal Banking
- Business Banking
- Lead Sweeps Program
- Atlas Card
- Nibbles Pet Rewards Credit Card
- Branch Workforce Payments Partnership
- River Bitcoin Banking Services
- Loop Stablecoin Payments
Quantifiable outcome
- Q3 2023 revenue increased 9% sequentially to $37 million, with net profit jumping 50% to $5 million
- +2 more outcomes
Companies that use Lead
Customer profileNamed customers9 records
Segments4 records
Ideal customer profiles4 records
Lead technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature3 records
Lead partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered minor and core.
- American Fintech CouncilminorLead Bank joined the American Fintech Council (AFC), the largest industry association representing both responsible fintech companies and innovative banks. AFC endorsed H.R. 6552, the Bank-Fintech Partnership Enhancement Act.
- MastercardcoreLead Bank partnered with Mastercard to expand settlement capabilities to include stablecoin (USDC, PYUSD, RLUSD, SoFiUSD), intraday, weekend, and holiday settlement options. Lead Bank is among the first U.S. partners to support Mastercard's new stablecoin settlement capabilities across blockchain networks.
- RivercoreRiver, a Bitcoin financial services company, partnered with Lead Bank to offer FDIC-insured banking services. River's Bitcoin banking products provide 3.3% annual interest paid in bitcoin, combining checking and savings functionality with FDIC insurance through Lead Bank.
- Bridge (Stripe)coreBridge, a Stripe-owned stablecoin infrastructure platform, partnered with Lead Bank for on-chain settlement of card transactions. Lead Bank enables Bridge to offer stablecoin-backed Visa cards that can be settled on-chain, live in 18 countries with expansion planned to over 100 countries. Platforms like Phantom and MetaMask have integrated this offering.
- Loop CryptocoreLead Bank acquired Loop, a stablecoin payments company, to expand its stablecoin infrastructure capabilities. Loop founder Eleni Chan now leads stablecoins at Lead Bank.
- ChainalysiscoreLead Bank collaborated with Chainalysis, the blockchain data platform, to enhance its compliance capabilities and streamline client onboarding for fintech and crypto company partners.
- BranchcoreBranch partnered with Lead Bank as its banking and card-issuing partner, with Lead Bank serving as the sponsor bank for Branch's workforce payment solutions including the Branch App, Card, and White Label offerings. Recognized as fastest-growing by Deloitte and Inc., and winner of FinTech Breakthrough 'Best Payment Enablement Platform' award.
- VisacoreVisa expanded its stablecoin settlement pilot with Lead Bank as a participant. Lead Bank enables Visa issuers and acquirers to complete settlements using stablecoins on supported blockchains including Solana, Ethereum, Stellar, and Avalanche. The partnership supports Visa's global card issuance product with Bridge for stablecoin-backed cards.
- Program Banks NetworkcoreLead Bank's Sweeps Program partners with 24 FDIC-insured banks including Amalgamated Bank, Bank Hapoalim, Bank of Hope, Huntington National Bank, Truist Bank, and others to provide up to $250,000 FDIC insurance per bank through deposit sweeps.
Scale indicators8 records
Recent moves6 records
Expansion highlights7 records
Lead competitors and assessment
Company assessmentDirect peers
- Cross River Bank: New Jersey state-chartered commercial bank widely regarded as the leading US sponsor bank for fintech BaaS, powering partnerships with Affirm, Coinbase, Stripe, and others. Highly comparable to Lead as a state-chartered bank providing regulated banking infrastructure to fintechs via APIs.
- Grasshopper Bank: New York-based digital-native commercial bank focused on serving fintech, digital asset, and BaaS clients via API-driven banking products. Closely comparable niche to Lead Bank's BaaS and digital-asset sponsor-bank model.
- Piermont Bank: New York-chartered commercial bank specializing as a sponsor bank for fintechs and crypto companies, including stablecoin issuers. Directly comparable to Lead in serving digital asset and embedded finance clients.
- Blue Ridge Bank: Virginia-based community bank that built a substantial fintech partnership / BaaS business before facing regulatory action. Highly comparable operating model to Lead in community-bank-meets-BaaS, with a cautionary precedent on regulatory exposure.
- Lineage Bank: Missouri-based digital bank providing sponsor-banking services for fintechs and crypto firms (formerly Sentinel Capital/Chainalysis-adjacent relationships). Comparable community-bank-turned-BaaS-sponsor model in similar geography and risk profile.
- Mercury: Digital banking platform serving startups and tech companies via partner banks (Choice Financial, Evolve Bank). Highly comparable business model of a fintech-branded banking experience delivered through sponsor-bank infrastructure.
Emerging players
- Synapse (now defunct): Was a direct BaaS infrastructure platform partnering with sponsor banks (including Lead-adjacent) to deliver fintech banking primitives. Included for historical comparability given shared customer base, though the company is no longer operating.
- Unit: Embedded banking platform that integrates with sponsor banks to provide fintechs with accounts, cards, and lending APIs. Comparable to Lead's Partner Platform in serving fintech clients, though Unit is software infrastructure rather than the chartered bank itself.
- Treasury Prime: BaaS API platform connecting fintechs to a network of sponsor banks for accounts, cards, and ACH. Comparable technology layer to Lead's Partner Platform, though Treasury Prime is infrastructure middleware rather than the chartered bank.
Broad incumbents
- Stripe (Banking & Treasury): Global payments incumbent with banking-as-a-service ambitions (Stripe Treasury, Issuing, Bridge stablecoin acquisition). Compares to Lead as a strategic counterparty but operates at vastly greater scale and competes for the same embedded-finance customer wallet.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
Lead social profiles
Digital presenceLead compliance and trust
Trust signalCompliance3 records
Lead financial estimates
Financial estimateRevenue estimate
Valuation estimate
Lead leadership team
Management profileNumber of profiles
Profiles14 records
Lead subsidiaries and ownership
Company hierarchySubsidiaries1 record
Lead funding detail
Funding detailFunding overview
Funding rounds2 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Lead M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Lead
What does Lead do?
Lead Bank is a state-chartered FDIC-insured bank that operates a Banking-as-a-Service (BaaS) platform providing modular APIs for fintech and crypto companies to embed lending (term loans, lines of credit, BNPL), money movement (ACH, instant payments, wires, international wires, stablecoin transfers), card issuing (physical/virtual debit and credit cards), and FDIC-insured account capabilities into their products. The bank also serves personal and business banking customers directly through traditional deposit, savings, and loan products via its website and two Missouri branch locations.
Is Lead a public or private company?
Lead is a private company. It is classified as venture growth investor backed and is currently operating.
When was Lead founded?
Lead was founded in 1928. It employs 251 to 500 people.
Where is Lead based?
Lead is headquartered in Kansas City, United States, in the North America region.
How does Lead make money?
Four revenue lines are on record. Banking-as-a-Service (BaaS) Fees are the primary driver. The others are interest Income, stablecoin and Digital Asset Services and business and Personal Banking.
Who are Lead's main competitors?
Direct peers on record are Cross River Bank, Grasshopper Bank, Piermont Bank, Blue Ridge Bank, Lineage Bank and Mercury. Emerging players are Synapse (now defunct), Unit and Treasury Prime. Stripe (Banking & Treasury) is listed as a broad incumbent.
Does Lead have an API?
Yes. Lead Bank offers a public API that enables developers to embed core banking primitives including lending, money movement, card issuing, and FDIC-insured account capabilities directly into their products. The platform supports ACH payments, instant payments, wire transfers, international wires, stablecoin transfers, and payment controls. API documentation is available at https://docs.lead.bank/. Developer documentation is at docs.lead.bank.
What industry is Lead in?
Lead's product category is Banking-as-a-Service. Its primary akta.pro industry code is FSAGALAA, BaaS Platforms & Sponsor Bank Enablement, with a secondary code of BPAMAFAJ, Open Banking, Account Aggregation & Payment Initiation APIs. Its NAICS code is 52211 and its SIC code is 6022.