Unit
Unit is an embedded finance platform that enables software companies to embed bank accounts, cards, payments, and lending products into their platforms via APIs, backed by multiple sponsor banks and serving 200+ platforms including Wix, Relay, and Roofstock.
- Company typePrivate
- Founded2020
- HeadquartersNew York, United States
- Headcount251–500
- GTM typeB2B
- OfferingSoftware
What Unit does
Unit is a U.S.-headquartered (New York) embedded finance and banking-as-a-service platform, founded in 2019/2020 with an engineering hub in Tel Aviv. The company enables software platforms, marketplaces, and vertical SaaS companies to embed bank accounts, wallets, debit/credit/charge cards, money-movement rails (ACH, wire, check, real-time payments via FedNow), and capital products (merchant cash advances, lines of credit, term loans) into their own products without obtaining a banking charter. The technology stack is an API-first platform hosted on AWS, offering two implementation paths: Ready-to-Launch (fully managed, single-line-of-code integration targeting a 3-week launch) and Custom (API-based with full UX control, ~6-week launch), supported by white-label UI components, a sandbox environment, SAML 2.0 SSO, and SOC 2 Type II / PCI DSS Level 1 compliance.
The platform is delivered as middleware between sponsor banks (Vantage Bank, Lincoln Savings Bank, Thread Bank) and program partners, coordinating KYC/AML, risk management, card-network integrations, and Federal Reserve payment rails. As of the 2024 retrospective, the platform processed more than $80B in annual transaction volume across 5M+ accounts, handled 12M+ daily API calls, held $1.3B in deposits (65% YoY growth), and served 800K+ individuals, 300K+ contractors, and 200K+ small businesses through 200+ software-platform customers including Wix, Relay, Roofstock, RentSpree, Baselane, Honeybook, and Homebase.
Unit monetizes via a mix of subscription/API platform fees, interchange revenue from card transactions, lending product economics (cash advance purchases of future receivables, credit-card interest, origination fees), and managed-services revenue from Ready-to-Launch solutions. Pricing is quote-based with annual billing cadence, reflecting a B2B2C model in which software platforms are the direct paying customers and end-users are reached through them. Unit has raised approximately $169M across five disclosed funding rounds (including seed through Series C) and achieved a $1.2B valuation at its May 2022 Series C led by Insight Partners.
Unit firmographics
Firmographics- Name
- Unit
- Legal name
- Unit Finance Inc.
- Website
- https://unit.co
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Unit is an embedded finance platform that enables software companies to embed bank accounts, cards, payments, and lending products into their platforms via APIs, backed by multiple sponsor banks and serving 200+ platforms including Wix, Relay, and Roofstock.
- Ownership category
- akta.pro rank
Unit industry classification
Industry- Product category
- Embedded Finance Platform
- NAICS
- Depository Credit Intermediation (5221), Credit Card Issuing (52221), Miscellaneous Financial Investment Activities (523999)
- SIC
- Services-Computer Programming Services (7371), Miscellaneous Business Credit Institution (6159), Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- Embedded/Platform Neobanks (Banking-as-a-Feature) (FSABAFAF)
- akta.pro secondary industries
- Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE), Embedded Card Issuing & Card-as-a-Service (FSAGALAC), Embedded Lending & Credit (POS, Working Capital, Credit Lines) (FSAGALAD), Card Issuing & Program Management Platforms (BPAMAFAH)
Keywords
Where Unit is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Unit business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- Platform / API Access Fees: Unit charges software companies for access to its embedded finance APIs and platform infrastructure, enabling them to offer accounts, cards, lending, and payments to their end customers.
- Interchange Revenue: Transaction-based interchange fees generated from branded debit and credit card usage when cardholders make purchases, typically 2-3% of transaction value for business credit cards.
- Lending Product Revenue: Revenue from embedded lending products including merchant cash advances (purchases of future receivables), credit card interest, and loan origination fees.
- Managed / Turnkey Solutions: Revenue from fully managed Ready-to-Launch solutions where Unit handles compliance, bank relationships, and infrastructure on behalf of program partners.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise / Custom API Plans |
| Subscription | Annual | Ready-to-Launch Managed Solutions |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels6 records
Unit product offering
Product offeringCore offering
Unit provides an API-first embedded finance platform that enables software companies to embed banking, card issuing, payments, and lending products (accounts, wallets, cards, money movement, capital) into their own applications in 3-6 weeks. It operates as middleware between U.S. bank partners and software platforms, offering two implementation paths: Ready-to-Launch (fully managed, single-line-of-code integration) and Custom (full API control). Unit handles compliance, KYC/AML, and regulatory infrastructure so platforms can offer FDIC-insured banking, branded cards, and embedded lending under their own brand.
Product overview
Unit is an embedded finance platform offering a modular architecture with two primary implementation paths: Ready-to-Launch (fully managed, single-line-of-code integration) and Custom (API-based, full control). The platform provides four core building blocks: Accounts & Wallets (FBO accounts and digital wallets), Money Movement (ACH, wire, check, real-time payments), Card Issuing (debit, credit, charge cards), and Capital (merchant cash advances, lines of credit, credit cards). These building blocks serve three customer segments: Businesses (capital, banking, expenses), Independent Workers (instant payouts, wallets, cards), and Consumers (balances, cards, money movement). The platform processed over $80 billion in annual transactions across 5 million accounts with 12 million daily API calls.
Differentiator
Problem solved
Functional benefit
Brands
- Unit Go: A solution for creating live bank accounts and issuing virtual and physical cards, launched as part of Unit's product offerings.
Products and services
- Ready-to-Launch A fully managed embedded finance solution that allows software platforms to launch branded financial products — accounts, cards, lending, and payments — with a single line of code, achieving go-live in approximately three weeks without building compliance or bank-relationship infrastructure themselves.
- Custom A custom API-based integration path that gives software platforms full control over the user experience, powered by direct integration with the Federal Reserve and card networks, with an approximately 6-week launch timeline. Targets engineering-led teams that want to build bespoke financial experiences.
- Unit Go A Unit solution for creating live bank accounts and issuing virtual and physical cards, launched in June 2021 and targeted at fintech builders that need fast, managed embedded banking infrastructure.
Quantifiable outcome
- 4x higher customer lifetime value for platforms embedding banking products (Roofstock case study)
- +4 more outcomes
Companies that use Unit
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles3 records
Unit technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability1 record
Feature8 records
Unit partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered minor, flagship and core.
- Hyperliquid Strategies IncminorUnit Labs partnered with Hyperliquid Strategies to launch a validator node named 'Hyperliquid Strategies x Unit' on the Hyperliquid blockchain network, expected to go live around May 11, 2026. The validator operates on institutional-grade infrastructure with HYPE tokens custodied at Anchorage Digital Bank, combining HSI's balance sheet scale with Unit's infrastructure expertise.
- RentSpreeminorRentSpree, a rental technology platform with nearly 4 million users, embedded Unit's banking infrastructure to launch FDIC-insured interest-earning accounts (up to 2.75% APY) for small landlords, unifying rental lifecycle financial operations.
- WixflagshipWix, a major website building and e-commerce platform, partnered with Unit to launch Wix Checking, enabling integrated business banking for Wix Payments customers. This represents one of Unit's largest named platform partnerships.
- Vantage BankcoreUnit's bank partner providing the banking charter for embedded finance programs. Vantage Bank selected Unit to power its embedded finance operations, enabling non-bank companies to offer banking products under Vantage Bank's charter.
- Lincoln Savings BankcoreUnit partner bank providing the regulatory charter for embedded banking products. The partnership is part of Unit's multi-bank strategy to provide resilience and regulatory flexibility for its platform.
- Thread BankcoreBanking partner of Unit enabling embedded banking-as-a-service programs. Thread Bank collaborated with Unit to expand BaaS offerings, with successful examples including the Highbeam partnership generating thousands of new customers and tens of millions in deposits.
Scale indicators12 records
Recent moves6 records
Expansion highlights6 records
Unit competitors and assessment
Company assessmentBroad incumbents
- Adyen Issuing: Global payments platform offering card issuing APIs to platforms. Competes with Unit's Card Issuing module as part of a broader payments suite, with stronger international footprint but less specialization in U.S. embedded banking.
- Galileo Financial Technologies (SoFi): Established BaaS platform owned by SoFi, providing card issuing, account management, and payment processing APIs to fintechs and platforms. A broader incumbent competitor with deeper resources and broader product suite than Unit.
Direct peers
- Synctera: End-to-end embedded banking platform pairing fintechs with community bank partners, offering accounts, cards, and lending via APIs. Direct competitor to Unit in serving software companies seeking to embed banking products.
- Marqeta: Public card-issuing platform (MQ) providing API-based debit, credit, and prepaid card issuance. Competes directly with Unit's Card Issuing module and serves fintech/platform customers with similar B2B2C embedded finance use cases.
- Finix: Payments infrastructure platform enabling software companies to embed payments processing, with BaaS-adjacent capabilities. Comparable to Unit in serving platforms seeking to monetize via payment/financial infrastructure.
- Treasury Prime: BaaS platform connecting fintechs and software companies to bank partners via APIs. Direct competitor in the embedded banking infrastructure space, with similar bank-partner orchestration model and target customer base of software platforms.
- Lithic: Card-issuing API platform enabling fintechs and platforms to launch virtual and physical debit, credit, and prepaid cards. Comparable to Unit's Card Issuing building block with similar developer-first positioning.
- Stripe Treasury: Stripe's embedded banking product enables platforms to embed financial accounts, cards, and money movement via APIs. Directly comparable to Unit's Ready-to-Launch and Custom paths, with Stripe's distribution advantage among internet businesses being a key differentiator.
Regional players
- Column (Bank): Programmable bank providing API-first commercial banking infrastructure. A chartered bank competitor in the embedded banking space with overlapping B2B2C platform use cases, though primarily U.S.-focused.
Emerging players
- Increase (formerly Ibanity): BaaS provider offering bank account opening, card issuing, and money movement APIs for fintechs and platforms. Emerging competitor with growing U.S. presence, comparable to Unit's Ready-to-Launch approach.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Unit social profiles
Digital presenceUnit compliance and trust
Trust signalCompliance4 records
Unit financial estimates
Financial estimateRevenue estimate
Valuation estimate
Unit leadership team
Management profileNumber of profiles
Profiles12 records
Unit funding detail
Funding detailFunding overview
Funding rounds5 records
Investors11 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Unit 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 Unit
What does Unit do?
Unit provides an API-first embedded finance platform that enables software companies to embed banking, card issuing, payments, and lending products (accounts, wallets, cards, money movement, capital) into their own applications in 3-6 weeks. It operates as middleware between U.S. bank partners and software platforms, offering two implementation paths: Ready-to-Launch (fully managed, single-line-of-code integration) and Custom (full API control). Unit handles compliance, KYC/AML, and regulatory infrastructure so platforms can offer FDIC-insured banking, branded cards, and embedded lending under their own brand.
Is Unit a public or private company?
Unit is a private company. It is classified as venture growth investor backed and is currently operating.
When was Unit founded?
Unit was founded in 2020. It employs 251 to 500 people.
Where is Unit based?
Unit is headquartered in New York, United States, in the North America region.
How does Unit make money?
Four revenue lines are on record. Platform / API Access Fees are the primary driver. The others are interchange Revenue, lending Product Revenue and managed / Turnkey Solutions.
Who are Unit's main competitors?
Broad incumbents on record are Adyen Issuing and Galileo Financial Technologies (SoFi). Direct peers are Synctera, Marqeta, Finix, Treasury Prime, Lithic and Stripe Treasury. Column (Bank) is listed as a regional player. Increase (formerly Ibanity) is listed as an emerging player.
Does Unit have an API?
Yes. Unit offers a public REST API enabling developers to build financial products including accounts & wallets, money movement (ACH, wire, check, real-time payments), card issuing (debit, credit, charge cards), and capital products (merchant cash advances, lines of credit). The API is available via the developer portal at https://www.unit.co/docs/api/, with sandbox environment for testing and production access. The platform also provides white-label UI components, API token scopes with read/write permissions, automatic token expiration (1 year default), customer tokens with built-in OTP, and SAML 2.0 SSO support for authentication. Developer documentation is at www.unit.co/docs/api.
What industry is Unit in?
Unit's product category is Embedded Finance Platform. Its primary akta.pro industry code is FSABAFAF, Embedded/Platform Neobanks (Banking-as-a-Feature), with a secondary code of FSAGALAE, Embedded Deposit Accounts & Digital Wallet Infrastructure. Its NAICS code is 5221 and its SIC code is 7371.