Privat
Privat Technologies Inc. is a Delaware-incorporated, mobile-first neobank offering FDIC-insured US dollar bank accounts and Visa debit cards to both US and non-US residents through a tiered subscription model.
- Company typePrivate
- Founded2016
- HeadquartersDover, United States
- Headcount11–50
- GTM typeB2C
- OfferingSoftware
What Privat does
Privat Technologies Inc. is a Delaware-incorporated financial technology company operating as a mobile-first neobank under the brand 'Privat'. The platform delivers FDIC-insured US dollar demand deposit accounts — accessible to both US and non-US residents without requiring a physical US presence — paired with virtual and physical Visa debit cards, savings accounts, multi-currency support, and spending analytics. Banking services and regulatory compliance (KYC/AML, FDIC coverage) are delivered through a partner bank, allowing Privat to operate without holding its own banking charter.
The product surface consists of three tiered subscription plans: a Free tier, Premium at €5 per month, and Gold at €10 per month, differentiated by number of physical cards, ATM withdrawal allowances, and advanced statistics access. Distribution is exclusively digital — iOS and Android apps plus a web platform — with customer acquisition driven by content marketing, social media, and an early-access waitlist funnel. The platform integrates Apple Pay and Google Pay for contactless payments, supports ACH and international wire transfers, and emits real-time push notifications. Compliance posture is documented across GLBA, CCPA, and GDPR with a privacy policy last updated January 2023.
Privat was spun off from the Binbit Group, a mobile technology developer with more than 18 years of experience and presence across five continents. The company is privately held, headquartered in Delaware, and operates with 11–50 employees. As of the source data, no funding rounds, revenue figures, management team, awards, patents, or AI/ML capabilities are disclosed, and acquisition is being driven primarily through a self-serve waitlist model.
Privat firmographics
Firmographics- Name
- Privat
- Legal name
- Privat Technologies Inc.
- Website
- https://privat.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Privat Technologies Inc. is a Delaware-incorporated, mobile-first neobank offering FDIC-insured US dollar bank accounts and Visa debit cards to both US and non-US residents through a tiered subscription model.
- Ownership category
- akta.pro rank
Where Privat is headquartered
LocationHeadquarters
- HQ city
- Dover
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Privat business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Subscription Fees: Three-tier subscription model with monthly fees: Free tier (no monthly fee), Premium tier at €5/month, and Gold tier at €10/month. Higher tiers provide more physical cards, ATM withdrawals, and advanced features.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Free tier - basic banking services with virtual card |
| Subscription | Monthly | Premium tier - enhanced card limits and features |
| Subscription | Monthly | Gold tier - unlimited access and maximum benefits |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Privat product offering
Product offeringCore offering
Privat operates a mobile-first neobanking platform that provides US-based bank accounts accessible to both US and non-US residents without requiring physical presence in the United States. The platform bundles virtual and physical Visa debit cards, multi-currency support with international wire transfers, savings accounts, and spending analytics. Banking services and FDIC-insured deposits are delivered through a partner bank, while Privat provides the technology, onboarding, and customer experience layer.
Product overview
Privat is a neobanking platform that provides US-based bank accounts to US and non-US residents through a 100% mobile digital experience. The product portfolio centers on a core US dollar bank account paired with virtual and physical debit cards across three tiered plans (Free, Premium at €5/month, and Gold at €10/month). Additional offerings include saving accounts and advanced spending statistics. The platform integrates Apple Pay and Google Pay for contactless mobile payments and supports instant transactions, ACH and wire transfers, and multi-currency payments worldwide. Privat operates as a financial technology company partnered with an FDIC-insured bank for banking services.
Differentiator
Problem solved
Functional benefit
Products and services
- Privat US Bank Account A US-based demand deposit bank account available to US and non-US residents, opened and managed entirely through the Privat mobile app. Supports ACH receipts, domestic and international wire transfers, USD holdings, and saving sub-accounts. Banking services and FDIC-insured deposits are provided through a partner bank.
- Privat Virtual Card A virtual Visa debit card automatically issued upon Privat account opening, usable for online and contactless payments via Apple Pay and Google Pay, and supporting multi-currency transactions without a physical card.
- Privat Physical Card A physical Visa debit card mailed to the user's address upon request from within the Privat app. Supports contactless tap payments, ATM withdrawals worldwide, and acceptance across the Visa network.
Companies that use Privat
Customer profileSegments3 records
Ideal customer profiles3 records
Privat technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature10 records
Privat partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Banking Partner (FDIC Member)corePrivat partners with an established bank that provides the actual banking services, regulatory compliance infrastructure, and FDIC insurance coverage. The banking partner has extensive expertise in payment technologies, client assistance, regulatory adherence, and compliance infrastructure.
- Binbit GroupcoreBinbit Group is the parent company from which Privat Technologies Inc. was spun off. Binbit is a leading company in the development and distribution of mobile technology with more than 18 years of experience and presence across five continents.
Scale indicators2 records
Recent moves2 records
Expansion highlights5 records
Privat competitors and assessment
Company assessmentDirect peers
- Bunq: Bunq is a European licensed neobank offering multi-currency accounts, virtual/physical cards, and tiered subscriptions (Free, Premium, Business). Its product, pricing structure, and target of international/digital-first users closely mirror Privat's positioning.
- Revolut: Revolut is a global digital bank offering multi-currency accounts, debit cards, international transfers, and subscription tiers (Standard, Plus, Premium, Metal). It is a direct competitor to Privat in the cross-border/digital banking space with a very similar tiered subscription model.
- Chime: Chime is a large US consumer neobank built on a partner bank, offering fee-free accounts, virtual cards, and mobile banking. It competes with Privat's US-resident segment and operates a near-identical bank-partner-as-a-service model.
- Current: Current is a US neobank targeting consumers and small businesses with mobile banking, debit cards, and tiered plans via a partner bank. Its product set, target user, and partner-bank architecture closely mirror Privat's US-resident proposition.
- Payoneer: Payoneer offers USD receiving accounts, multi-currency wallets, and prepaid cards to freelancers, SMBs, and non-US residents. It directly overlaps with Privat's core use case of giving non-US users access to US banking and international payments.
- Mercury: Mercury provides US-based business banking via a partner bank with FDIC insurance, virtual/physical cards, wires, and tiered plans. While primarily SMB-focused, it competes with Privat for US dollar account access and cross-border digital banking customers.
- N26: N26 is a mobile-first European neobank with tiered subscriptions, multi-currency support, and physical/virtual cards. It competes with Privat for non-US residents seeking a digital banking alternative and uses a comparable bank-partner model in markets where it lacks its own license.
- Wise (TransferWise): Wise offers multi-currency accounts, international transfers, and debit cards to individuals and businesses across borders. It directly competes with Privat in providing USD accounts and cheap cross-border wires to non-US residents, with a similar product-led, mobile-first approach.
Emerging players
- Varo Bank: Varo is a US chartered digital bank offering mobile-first checking, savings, and debit cards. It overlaps with Privat's US-resident digital-banking segment and represents a comparable end-to-end digital banking experience.
- Remitly: Remitly is a digital remittance platform focused on cross-border money transfers, particularly for diaspora senders. While narrower than Privat, it targets an overlapping non-US-resident segment and is expanding into multi-currency accounts and cards.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Privat social profiles
Digital presencePrivat compliance and trust
Trust signalCompliance4 records
Privat financial estimates
Financial estimateRevenue estimate
Valuation estimate
Privat leadership team
Management profileNumber of profiles
Profiles1 record
Privat funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Privat 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 Privat
What does Privat do?
Privat operates a mobile-first neobanking platform that provides US-based bank accounts accessible to both US and non-US residents without requiring physical presence in the United States. The platform bundles virtual and physical Visa debit cards, multi-currency support with international wire transfers, savings accounts, and spending analytics. Banking services and FDIC-insured deposits are delivered through a partner bank, while Privat provides the technology, onboarding, and customer experience layer.
Is Privat a public or private company?
Privat is a private company. It is classified as corporate owned and is currently operating.
When was Privat founded?
Privat was founded in 2016. It employs 11 to 50 people.
Where is Privat based?
Privat is headquartered in Dover, United States, in the North America region.
How does Privat make money?
One revenue line is on record: subscription Fees.
Who are Privat's main competitors?
Direct peers on record are Bunq, Revolut, Chime, Current, Payoneer, Mercury, N26 and Wise (TransferWise). Emerging players are Varo Bank and Remitly.
Does Privat have an API?
No public API is recorded for Privat.