Unit

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.

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

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

• Embedded finance platform
• Banking-as-a-service
• Card issuing API
• Embedded lending infrastructure
• Payment orchestration APIs

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. 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.
2. 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.
3. Lending Product Revenue: Revenue from embedded lending products including merchant cash advances (purchases of future receivables), credit card interest, and loan origination fees.
4. 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

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core 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

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature8 records

Partnerships

Six partnerships are on record, tiered minor, flagship and core.

• Hyperliquid Strategies IncminorStrategic or Co-development Partner · 7 May 2026Unit 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.
• RentSpreeminorOEM/ Whitelabel/ Licensing Partner · 7 January 2026RentSpree, 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.
• WixflagshipOEM/ Whitelabel/ Licensing Partner · 11 August 2025Wix, 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 BankcoreTechnology or IntegrationUnit'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 BankcoreTechnology or IntegrationUnit 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 BankcoreTechnology or IntegrationBanking 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

Broad 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

• Xx.com/unit_co_
• LinkedInlinkedin.com/company/unit-finance

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds5 records

Investors11 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Unit