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Banking-As-A-Service Platform Unit Announces $100 Million Series C Led By Insight Partners, Valuing The Company At $1.2 Billion

May 17, 2022•about 3 years ago

Amount Raised

$100 Million

Round Type

series c

Description

Unit, the leading banking-as-a-service platform that empowers companies to embed financial services in their products, today announced it has raised a $100 million in a Series C round led by global software investor Insight Partners, with participation from existing investors including Accel, Better Tomorrow Ventures, and Flourish Ventures. New investors Moving Capital and Stepstone also joined the round.

Company Information

Company

Unit

About

Unit is the leading banking-as-a-service platform that empowers companies to build banking into their products. Unit accelerates time to market and enables companies to launch bank accounts, cards, payment, and lending products in weeks. Headquartered in New York City and Tel Aviv, Unit is backed by top investors including Insight Partners, Accel, and Better Tomorrow Ventures and serves 140+ customers including AngelList, HoneyBook, and Roofstock. For more information, visit www.unit.co. Unit and featured customers are financial technology companies and not a bank. Banking services are provided by Unit's partner banks who are Member FDIC. Visa® Debit Cards are issued by Unit's partner banks pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.

Funding Insights

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Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech