Banyan
Banyan is a B2B receipt data infrastructure platform that connects 40,000+ merchant stores with 5,000+ financial institutions, enabling SKU-level transaction enrichment for loyalty, fraud prevention, expense management, and card-linked offers through a single secure API.
- Company typePrivate
- Founded2021
- HeadquartersHolmdel, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Banyan does
Banyan (legal entity Rotomaire, Inc.) is a B2B data infrastructure platform that ingests, cleans, and matches item-level receipt data from merchants with transaction data from financial institutions, then delivers permissioned, enriched data to banks, fintechs, and commerce partners. Founded in 2021 and headquartered in Holmdel, New Jersey, the company operates as the connective layer between 40,000+ merchant stores and 5,000+ financial institutions globally, having processed 21 billion+ receipts and 36 billion+ receipt items to date. The platform is built on Google Cloud Platform using BigTable for distributed data storage, with Apache Beam and Airflow orchestrating data pipelines and a proprietary "matching engine" mapping receipts to card transactions. Core products include Banyan Enrich (transaction matching and SKU-level enrichment), Banyan Confirm for CLO (card-linked offer campaign management), webhook egress for real-time delivery, batch egress via GCS, AWS S3, Snowflake secure views, and SFTP, and the Banyan Portal for self-service campaign management.
Banyan serves four primary customer segments: merchants seeking to amplify return on ad spend and protect margins in bank marketing channels; banks and credit card issuers seeking SKU-level data for personalization, fraud detection, and customer engagement; fintechs requiring receipt data intelligence for product innovation; and commerce platforms pursuing precise consumer targeting and attribution. The company generates revenue through subscription and platform fees on a quote-based B2B model with multi-year enterprise contracts; pricing varies by merchant network size, transaction volume, number of FI partners, and use case complexity. Distribution combines direct enterprise sales, an API-first developer portal (developers.banyan.com), and channel partnerships — most notably the Ethoca/Mastercard relationship granting access to 5,000+ FI partners, and the WEX partnership embedding Banyan capabilities into B2B virtual payments. The platform achieved SOC 2 Type 2 compliance in May 2024, underscoring its privacy-by-design positioning for handling permissioned financial data.
Banyan firmographics
Firmographics- Name
- Banyan
- Legal name
- Rotomaire, Inc.
- Website
- https://banyan.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Banyan is a B2B receipt data infrastructure platform that connects 40,000+ merchant stores with 5,000+ financial institutions, enabling SKU-level transaction enrichment for loyalty, fraud prevention, expense management, and card-linked offers through a single secure API.
- Ownership category
- akta.pro rank
Banyan industry classification
Industry- Product category
- Data Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)
Keywords
Where Banyan is headquartered
LocationHeadquarters
- HQ city
- Holmdel
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Banyan business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales
Revenue model
- Platform Data Services: Banyan charges merchants, banks, and fintechs for access to its item-level receipt data platform. The platform enables data collaboration between merchants who share receipt data and financial institutions who receive enriched transaction data. Revenue is generated through platform fees and data service subscriptions based on transaction volume and data usage.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Enterprise B2B platform with custom pricing |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
Banyan product offering
Product offeringCore offering
Banyan operates a B2B receipt data infrastructure platform that ingests, cleans, and enriches item-level merchant receipt data and financial institution transaction data into a common schema, then delivers permissioned data to merchants, banks, fintechs, and commerce partners. The platform supports use cases including card-linked offer management, transaction enrichment, fraud/chargeback prevention, expense management, and personalized card rewards through APIs, batch egress, and a customer-facing portal.
Product overview
Banyan operates as a receipt data platform offering a unified portfolio of data infrastructure and enrichment products. The core platform consists of Banyan Enrich (transaction matching and enrichment) and Banyan Confirm for CLO (card-linked offer management). Supporting modules include Webhook Egress for real-time data delivery, Batch Egress Options supporting GCS, AWS S3, Snowflake, and SFTP for batch data retrieval, and the Banyan Portal for campaign and offer management. The platform connects 40,000+ merchant stores with 5,000+ financial institutions globally, processing over 21 billion receipts and 36 billion receipt items.
Differentiator
Problem solved
Functional benefit
Products and services
- Banyan Enrich Core data enrichment platform that matches merchant receipt data with financial institution transaction data to provide SKU-level resolution on cardholder purchases. Supports fraud detection, budgeting, transaction matching, expense management, and personalized card rewards use cases for banks, fintechs, merchants, and commerce platforms.
- Banyan Confirm for CLO Card-linked offer campaign management product enabling publishers and advertisers to create, manage, and track card-linked offers. Supports offer configuration (cashback amounts, minimum spend thresholds, per-card redemption limits), inclusion/exclusion criteria, transaction matching, fulfillment scenarios, and redemption tracking.
- Banyan Portal Customer-facing web application built on the Remix framework that lets advertisers and publishers manage card-linked offer campaigns, configure inclusion/exclusion criteria, set redemption limits, visualize complex matching logic, and browse the Offer Discovery section.
Quantifiable outcome
- 14x gross ROAS achieved in SKU-data powered card-linked offer campaign (vs. 4x benchmark target)
- +4 more outcomes
Companies that use Banyan
Customer profileNamed customers11 records
Segments4 records
Ideal customer profiles4 records
Banyan technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature5 records
Banyan partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core and minor.
- Ethoca by Mastercardcore18+ month collaboration to enable Banyan partner merchants to securely connect with Ethoca's network of 5,000+ financial institution partners. Reduces transaction confusion and streamlines disputes and chargebacks resolution.
- FetchminorFetch is a rewards-centric ad network. Partnership enables Walgreens to prove campaign impact and create lifelong consumers using Fetch points powered by Banyan data.
- KardcoreKard is an end-to-end loyalty platform connecting consumers with brands. Partnership enables SKU data-powered reporting intelligence and offer flexibility for 47M+ cardholders in Kard's network.
- Bilt-Walgreens CollaborationcoreBilt and Walgreens launched Automatic FSA/HSA program powered by Banyan's SKU-level data platform, eliminating need for separate FSA/HSA cards and helping consumers avoid losing $4B in FSA dollars annually.
- Bilt RewardscoreBilt is a leading payments and rewards platform, first program enabling consumers to earn rewards on rent payments and daily neighborhood spend. Banyan powers Bilt Neighborhood Rewards with SKU-level data for personalized rewards experiences.
- WalgreenscoreWalgreens operates 8,700+ retail locations serving 9 million customers daily. Banyan's item-level data capabilities help Walgreens deliver omnichannel experiences combining physical and digital channels.
- WEXcoreWEX is a B2B fintech simplifying business operations and streamlining business payments. Merchant partners of WEX benefit from Banyan item-level data capabilities in WEX's virtual payments solutions.
- Affinity SolutionscoreAffinity Solutions provides data-driven marketing solutions. Partnership enables greater ability to target high-value, personalized cardholder incentive offers with enriched item-level receipt data.
- Chargebacks911coreChargebacks911 provides end-to-end chargeback prevention and remediation. Partnership enables merchants to leverage item-level receipt data for enhanced chargeback management and dispute resolution.
- TripleminorPartnership to enable item-level card-linked offers. Triple connects consumers with brands through loyalty programs.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
Banyan competitors and assessment
Company assessmentDirect peers
- Akoya: Akoya operates a consumer-permissioned data-sharing network connecting banks, fintechs, and data recipients under a standardized API, closely mirroring Banyan's API-based two-sided data collaboration model for financial data.
- Affinity Solutions: Affinity Solutions delivers data-driven marketing using transaction-level insights to FIs and merchants — a Banyan partner and a direct competitor in card-linked offers and cardholder personalization.
- Plaid: Plaid provides API infrastructure connecting financial institutions to third-party applications with consent management — analogous to Banyan's role as a receipt-data API connecting merchants and FIs.
- MX: MX offers financial data aggregation, cleaning, and enrichment APIs for banks and fintechs, comparable to Banyan's receipt-to-transaction matching and enrichment infrastructure.
- Cardlytics: Cardlytics powers card-linked offer marketing using bank transaction data — directly competing with Banyan's Confirm for CLO product in loyalty and performance marketing use cases.
Emerging players
- Bridge2 Solutions: Bridge2 Solutions provides item-level receipt and loyalty data connectivity between merchants and financial institutions, directly comparable to Banyan's receipt-data collaboration infrastructure.
- Edo: Edo connects merchants' purchase data into bank-driven personalization and cashback programs, with substantial overlap to Banyan's card-linked offer and merchant-data collaboration use cases.
Broad incumbents
- Finicity (Mastercard): Finicity, acquired by Mastercard, provides financial data aggregation and connectivity — overlapping with Banyan's API-based data access to FIs and now embedded inside a network that is also a Banyan partner.
- Personetics: Personetics offers bank-based transaction analytics, personalization, and financial wellness — using enriched transaction data inside FIs in a comparable manner to Banyan's enrichment for cardholder engagement.
- Yodlee (Envestnet): Yodlee provides financial data aggregation and enrichment at scale for hundreds of FIs — broader data-set coverage but similar API-driven model for connecting account, transaction, and category data to third parties.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Banyan social profiles
Digital presenceBanyan compliance and trust
Trust signalCompliance1 record
Banyan financial estimates
Financial estimateRevenue estimate
Valuation estimate
Banyan leadership team
Management profileNumber of profiles
Profiles8 records
Banyan funding detail
Funding detailFunding overview
Funding rounds5 records
Investors14 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Banyan 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 Banyan
What does Banyan do?
Banyan operates a B2B receipt data infrastructure platform that ingests, cleans, and enriches item-level merchant receipt data and financial institution transaction data into a common schema, then delivers permissioned data to merchants, banks, fintechs, and commerce partners. The platform supports use cases including card-linked offer management, transaction enrichment, fraud/chargeback prevention, expense management, and personalized card rewards through APIs, batch egress, and a customer-facing portal.
Is Banyan a public or private company?
Banyan is a private company. It is classified as venture growth investor backed and is currently operating.
When was Banyan founded?
Banyan was founded in 2021. It employs 11 to 50 people.
Where is Banyan based?
Banyan is headquartered in Holmdel, United States, in the North America region.
How does Banyan make money?
One revenue line is on record: platform Data Services.
Who are Banyan's main competitors?
Direct peers on record are Akoya, Affinity Solutions, Plaid, MX and Cardlytics. Emerging players are Bridge2 Solutions and Edo. Broad incumbents are Finicity (Mastercard), Personetics and Yodlee (Envestnet).
Does Banyan have an API?
Yes. Banyan offers a REST API that enables merchants to share receipt data with financial institutions (banks, credit card companies) and allows financial institutions to access SKU-level resolution on transactions. The API supports real-time transaction submission (POST /v1/transaction), receipt data onboarding, enriched transaction retrieval, offer management (POST/PATCH/GET for campaigns and offers), and offer activation/redemption tracking. Authentication uses OAuth2 Bearer tokens. The API handles multiple event types including enriched transactions, consumer matches, and offer redemptions. Response codes indicate rate limiting (429) and various error conditions. The platform is built on Google BigTable infrastructure. Developer documentation is at developers.banyan.com/docs.
What industry is Banyan in?
Banyan's product category is Data Infrastructure. Its primary akta.pro industry code is FSAMACAA, Merchant Payment Gateways (API/Hosted Checkout). Its NAICS code is 522320 and its SIC code is 6199.