Privat

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.

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

Headquarters

HQ city

Dover

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

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

Revenue model

1. 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

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core 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.

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature10 records

Partnerships

Two partnerships are on record, tiered core.

• Banking Partner (FDIC Member)coreTechnology or IntegrationPrivat 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 GroupcoreOthersBinbit 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

Direct 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

• LinkedInlinkedin.com/company/privat-cloud

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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 Privat