“Can a small Nordic bank become the invisible SME-banking rail inside the financial-management software European entrepreneurs already use?”
Alisa Bank's lineage runs through Evli Pankki, Fellow Finance and Fellow Bank — originally a Finnish P2P lending and crowdfunding platform that eventually acquired a banking licence and rebranded. The company has pivoted hard into embedded SME banking: distribution via financial-management software partners, invoice financing as the lead product, and white-label lending through other banks (notably Nordea). The 2024 Puro Finance acquisition anchored invoice financing as a core line, and the 2025 Visa Business card (powered by Enfuce) extended the stack into card issuing.
Alisa Bank discloses Alisa Bank Plc (in-house) as its banking provider, according to the Embedded Finance Index 2026.
Alisa Bank does not disclose a bank charter of its own; its banking services are provided through Alisa Bank Plc (in-house).
Alisa Bank's lending and capital products are provided by Alisa Bank Plc (in-house) and Puro Finance (subsidiary).
The Embedded Finance Index 2026 maps 5 layers in Alisa Bank's stack: Banking / BaaS (Alisa Bank Plc (in-house)); Card issuing (Enfuce); Card network (Visa); Lending (Alisa Bank Plc (in-house), Puro Finance (subsidiary), SME business loans, Invoice financing and 1 other); Accounts Receivable (Puro Finance (subsidiary)).
Alisa Bank is founded in 2017 and headquartered in Helsinki, Finland.
Alisa Bank's acquisitions include Puro Finance (2024).
Get a read on where your own stack stands against Alisa Bank and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.