What Kobble does

Kobble is an Australian Banking-as-a-Service (BaaS) platform, founded in 2021, that provides licensed, API-first financial infrastructure enabling fintechs, neobanks, retailers, and enterprises to launch regulated financial products in a fraction of the time and cost of building in-house. The platform is organised around "Kobble Core," a real-time, double-entry, multi-entity programmable ledger with an immutable hash-chain journal and native sub-ledger architecture, which underpins seven modular products: Cards (Mastercard prepaid, debit, and virtual issuance with Apple Pay/Google Pay tokenisation), Accounts (BSB-enabled transaction and savings accounts), Wallets (stored-value and digital wallets), Payments (NPP, PayID, PayTo, BPAY, Direct Entry, SWIFT with smart routing), Security & Compliance (KYC/KYB, dual-model GNN+XGBoost transaction monitoring, automated AUSTRAC reporting), White-Label App (native iOS/Android, biometric auth, full rebrand), and Loyalty (real-time points and rewards built into the ledger). Two modules (White-Label App and Loyalty) are flagged as "Coming Soon" on the website despite case-study references to deployed white-label apps, indicating rollout is in progress.

Kobble holds three durable regulatory and network assets: an Australian Financial Services Licence (AFSL No. 545391) held by affiliated entity Yondr Money Pty Ltd (ABN 11 625 732 569), AUSTRAC registration, and — most distinctively — an exclusive Mastercard Principal Issuer deal in the Australian market (announced May 2025) that gives direct network access without a BIN sponsor. The company is part of the Fincraft Group alongside sibling brands Yondr Money (the consumer banking proof-of-concept product, operated under the same AFSL) and Shouta (a B2B rewards and gifting engine). This structure allows client fintechs to operate as Corporate Authorised Representatives under Kobble's AFSL, bypassing the multi-year licensing and compliance build that would otherwise be required.

Revenue is generated through a three-tier model — Launch (usage-based, up to 1,000 wallets, no minimums, targeting early-stage fintechs), Scale (pay-as-you-go with unlimited wallets, white-label app, and volume discounts), and Enterprise (multi-year subscription with custom card programs, dedicated environments, 24/7 support, and dedicated account managers). Pricing is usage-based at the unit level (per API call, per active wallet, per card issued, per transaction) layered on tier subscriptions and module licensing. Go-to-market is direct API-first with field sales for Scale and Enterprise tiers, plus content marketing (whitepapers, case studies, newsletter) and developer relations (sandbox, documentation at docs.apikobble.net). Geography is currently single-country (Australia), with the 2025 Paymentology partnership explicitly flagging potential expansion into additional markets.

Name

Kobble

Legal name

Yondr Money Pty Ltd

Website

https://kobble.net

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Kobble is an Australian Banking-as-a-Service platform that provides licensed, API-first financial infrastructure — cards, accounts, wallets, payments, and compliance — enabling fintechs, neobanks, and enterprises to launch regulated financial products in weeks rather than years.

Ownership category

akta.pro rank

Product category

Banking-as-a-Service Platform

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

BaaS Platforms & Sponsor Bank Enablement (FSAGALAA)

akta.pro secondary industries

Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE), Risk, Compliance & Controls for Embedded Finance (KYB/KYC/AML, Fraud, Disputes) (FSAGALAK), Digital Wallet Infrastructure (Tokenization, Wallet-as-a-Service) (FSAMAEAI), Reconciliation, Ledgering & Money Movement Ops (Sub-ledgers, Settlement, Reporting) (FSAGALAL)

Keywords

• Banking-as-a-service platform
• Embedded finance infrastructure
• Card issuing API
• Compliance-as-a-service
• White-label banking app

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Usage-based API pricing: Pay per API call, per active wallet, per card issued, and per transaction processed. No minimums on Launch tier. Transparent per-unit pricing for accurate cost forecasting.
2. Platform subscription tiers: Three-tier model: Launch (up to 1,000 wallets), Scale (unlimited wallets with volume discounts), and Enterprise (custom). Higher tiers unlock more modules, elevated API limits, and premium support.
3. Module/component licensing: Modular platform allows clients to pick specific modules (Cards, Wallets, Payments, Compliance, Core, White-label App, Loyalty). Revenue accrues from licensing selected capabilities.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels8 records

Core offering

Kobble provides a modular Banking-as-a-Service (BaaS) platform that enables fintechs, neobanks, banks, and enterprises to launch regulated financial products via APIs. Its offering spans Mastercard prepaid, debit and virtual card issuing; BSB-enabled accounts and digital wallets; multi-rail payments (NPP, PayID, PayTo, BPAY, Direct Entry, SWIFT); KYC/AML compliance with AUSTRAC reporting; and white-label iOS/Android banking apps, all powered by a real-time double-entry programmable ledger (Kobble Core) and operated under AFSL 545391.

Product overview

Kobble is a modular Banking-as-a-Service (BaaS) platform built in Australia, providing API-first financial infrastructure for fintechs, neobanks, retailers, and enterprises. The platform is organized around a central programmable ledger engine (Kobble Core) that underpins eight modular services: Cards, Accounts, Wallets, Payments, Security & Compliance, White-Label App, and Loyalty (Loyalty and White-Label App are marked Coming Soon). Each module is available as a standalone product with its own API and can be combined for full-stack solutions. The platform is complemented by separate products and solutions including Shouta (B2B rewards and gifting engine), BIN Sponsorship, Compliance-as-a-Service, and multiple industry-specific solutions (Neobanks, Embedded Finance, Corporate Expense Management, Payroll Cards, Insurance Disbursements, Fuel & Fleet Cards, Government Disbursements, Travel Cards, Treasury & Cash Management, Marketplace Payments & Escrow, Single-Use Virtual Cards, Loyalty & Rewards, and Gift Card Issuing). Kobble is a licensed Mastercard Principal Issuer holding AFSL No. 545391, AUSTRAC registered, and powered by Cuscal for BSB/account infrastructure. The AI Intelligence Layer adds real-time transaction monitoring, AI compliance summaries, natural language analytics, predictive categorisation, and ML-driven loyalty personalisation on top of the modular stack.

Differentiator

Problem solved

Functional benefit

Brands

• Shouta: A B2B rewards and gifting engine integrated into the Kobble platform, unique in the market.
• Yondr Money

Products and services

• Kobble Core Real-time, double-entry, multi-entity programmable financial ledger with native sub-ledger architecture, immutable append-only journal, hash-chain verification, and compliance at the transaction level. Underpins Cards, Wallets, Payments, Accounts, and Compliance modules.
• Cards API-first Mastercard card issuing module that issues prepaid, debit and virtual Mastercard cards with Apple Pay and Google Pay push/web provisioning, 3D Secure, real-time authorisation, per-card spending controls, MCC restrictions, and fraud prevention.
• Accounts BSB-enabled transaction and savings accounts module with real-time balances, instant NPP and PayTo transfers, multi-currency support, and sub-account creation for ring-fenced funds.
• Wallets Digital wallet infrastructure supporting stored-value wallets, Apple Pay and Google Pay push and web provisioning, P2P transfers, multi-currency support, and real-time balance updates.
• Payments Payment rails module providing access to NPP/PayID/PayTo real-time payments, BPAY bill payments, Direct Entry bulk batch processing, SWIFT international transfers, payment orchestration with smart routing, and automated reconciliation.
• Security & Compliance Compliance-as-a-Service module providing multi-step KYC/KYB identity verification, AI-powered AML/CTF transaction monitoring with dual ML models, real-time sanctions screening, AUSTRAC reporting (SMRs, TTRs, IFTI), case management, and audit trails.
• White-Label App White-label iOS and Android mobile banking app module with custom branding, card management, payments, savings goals, budgeting, biometric authentication, push notifications, remote configuration, and deep linking. Published under client's own App Store accounts.
• Loyalty Native loyalty engine built directly into the core ledger with points accrual, cashback, tiered membership, campaign management, merchant offers, gamification, AI-personalised targeting, and rewards marketplace. Calculated and notified in real time at the point of transaction.
• AI Intelligence Layer AI-powered intelligence module with real-time transaction monitoring, AI compliance summaries, natural language analytics, predictive spend categorisation, and ML-driven loyalty offer targeting. Powered by dual-model ML (graph neural networks + gradient-boosted models).
• Kobble AI AI-powered tool for building and configuring financial products on the Kobble platform, enabling AI-assisted product configuration and launch.
• BIN Sponsorship BIN sponsorship service enabling organisations to launch card programs without becoming a bank. Kobble as Mastercard Principal Issuer sponsors programs under its own licence, providing scheme access, card issuing, and program management.
• Embedded Finance Infrastructure Full embedded finance solution enabling platforms, retailers, SaaS companies, and other businesses to embed banking, payments, and card features directly into existing products via a single API integration.
• Neobank Launch Platform Complete BaaS solution for launching neobanks and challenger banks, combining card issuing, wallets, payments, compliance, and white-label app modules for a full digital banking launch in weeks.
• Compliance-as-a-Service Standalone compliance module available without the full platform — KYC/KYB, AI-powered transaction monitoring, and AUSTRAC reporting for fintechs and NBFIs that already have infrastructure but need a proven compliance layer.
• Corporate Expense Management Corporate expense card program with granular per-card spending limits, merchant category restrictions, time-based controls, approval workflows, real-time spend dashboards, team hierarchy, and AI receipt matching for automated reconciliation.
• Payroll Cards & Earned Wage Access

Quantifiable outcome

• 8 weeks average launch time from contract to live product (vs 12-18 months traditionally)
• +10 more outcomes

Named customers3 records

Segments15 records

Ideal customer profiles10 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration19 records

AI capability8 records

Feature8 records

Partnerships

Eight partnerships are on record, tiered core, flagship and strategic.

• PaymentologycoreTechnology or Integration · 17 June 2025Partnership to support launch and scaling of embedded finance products across Australia. Combines Kobble's licensed BaaS platform with Paymentology's global issuer processing infrastructure. Aims to help FinTechs, enterprises, insurers and consumer brands bring card programmes, branded accounts and digital payment experiences to market quickly while reducing operational and regulatory complexity. Initial focus on Australia with potential expansion into additional markets.
• MastercardflagshipTechnology or IntegrationExclusive principal issuing deal with Mastercard in the Australian market. Enables Kobble to create Mastercard prepaid and debit products, providing businesses with ability to launch embedded financial solutions powered by Mastercard's global payment network. Ashima Chaudhary, VP Business Development Australasia at Mastercard stated commitment to empowering fintechs to innovate at scale.
• CuscalcoreTechnology or IntegrationBanking infrastructure partner providing BSB/account infrastructure and gateway to Australian payment rails including NPP, PayID, PayTo, BPAY, and Direct Entry. Listed in partner logos section.
• MambustrategicStrategic or Co-development PartnerStrategic partnership for lending infrastructure. Mambu provides core banking and loan management capabilities. Partnership enables Kobble + Mambu combination for lending and core banking modernisation in partnership.
• Apple PaycoreTechnology or IntegrationDigital wallet integration for tokenising cards to Apple Wallet via push provisioning from apps or web provisioning for cardholders without native apps.
• Google PaycoreTechnology or IntegrationDigital wallet integration for tokenising cards to Google Wallet via push provisioning from apps or web provisioning for seamless cardholder experience.
• Yondr MoneyflagshipStrategic or Co-development PartnerParent company and sibling brand under Fincraft Group. Yondr Money is the licensed entity (AFSL 545391) operating under the Kobble brand. Yondr Money is also Kobble's own consumer banking product, serving as live proof of the platform's capabilities.
• ShoutastrategicStrategic or Co-development PartnerSibling brand under Fincraft Group alongside Yondr Money and Kobble. Shouta is a B2B rewards and gifting engine integrated natively into Kobble's platform, unique in the market.

Scale indicators9 records

Recent moves11 records

Expansion highlights7 records

Direct peers

• Zai (Zip Co): Australian-licensed Banking-as-a-Service platform offering card issuing, payments, and account infrastructure to fintechs and platforms. Direct domestic competitor to Kobble in the same regulatory and customer base, with similar modular API architecture.
• Zepto: Australia- and APAC-focused BaaS provider enabling real-time payments, card issuing, and account-to-account transfers. Highly comparable to Kobble on target market (Australian fintechs/enterprises), technology stack, and payment-rail coverage.
• Unit: US-based embedded banking platform offering banking-as-a-service infrastructure (accounts, cards, payments, lending) via APIs to fintechs and tech companies. Closely comparable business model and module mix to Kobble, though operating in the US regulatory environment.
• Treasury Prime: US BaaS platform connecting fintechs to bank partners for accounts, cards, and payments via a single API. Comparable architectural approach (bank-led, modular, compliance-embedded) to Kobble, scaled to community-bank clients in the US.
• Synctera: US embedded banking platform pairing sponsor banks with fintechs to launch accounts, cards, and lending products. Direct comparable on BaaS business model and go-to-market (fintech ↔ regulated bank), with a similar compliance-led proposition.

Broad incumbents

• Marqeta: Global card-issuing platform with deep scheme access and large enterprise clients. Comparable to Kobble on the Cards module and developer-first API approach, though at much larger scale and broader geographic footprint.
• Stripe Issuing: Stripe's API-first card-issuing product sits inside a much broader payments platform. Overlaps with Kobble's Cards and Wallets modules for developer-led fintech customers, but Stripe's scale and breadth make it a broad incumbent rather than a head-to-head specialist.
• Galileo Financial Technologies: Sohi-owned payments and card-issuing platform powering fintechs and banks globally. Comparable to Kobble on processing infrastructure, multi-rail payments, and programmable card controls, but at materially larger scale and broader geographic scope.
• Airwallex: Australia-founded global payments and embedded finance platform with multi-currency accounts, card issuing, and FX. Direct comparable on Australian roots and B2B cross-border payments, though operating at significantly larger scale across APAC and beyond.

Others

• Mambu: Core banking and lending platform used by banks and fintechs globally. Listed as a Kobble strategic partner rather than direct competitor, but adjacent in the embedded-finance ecosystem — both serve fintechs and challenger banks with composable infrastructure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/kobble-au

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds1 record

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 Kobble