← Embedded Finance Index 2026

Ansa

“Can a closed-loop stored-value platform become the default 'branded wallet' layer for merchants who want to escape card interchange and lock in customer balances?”

Founded2022
HQSan Francisco, California, United States
FoundersSophia Goldberg, JT Cho
Total raised~$19.4M
Latest roundSeries A, 2024
Valuationundisclosed
IndustryInfrastructure / Payments
The story

Ansa was founded in 2022 by ex-Adyen PM Sophia Goldberg and ex-Affirm operator JT Cho as an API-first 'wallet-as-a-service' platform. The company operates as a closed-loop stored-value program manager — customers of Ansa's merchants (marketplaces, platforms, coffee/QSR chains like Compass Coffee and Reverb) load funds into branded digital wallets that behave like Starbucks Balance, Steam Wallet, or Uber Cash. Ansa handles the ledger, reconciliation, PSP integration, and regulated bank partnership (First Internet Bank of Indiana) so merchants can launch closed-loop wallets without becoming money transmitters themselves.

Last 12 months
2024-04
2024-09
Product timeline
2022
Founded by ex-Adyen and ex-Affirm operators to build API-first wallet-as-a-service platform.· pivot
2023
Emerged from stealth with $5.4M seed round.· banking
2023
Achieved SOC 2 Type 2 compliance.· compliance
2024
Raised $14M Series A led by Renegade Partners.· banking
2024
Launched automated accounting integrations with QuickBooks, NetSuite, Sage Intacct.· banking
The stack
7 layers disclosed in Ansa’s embedded-finance stack
Payments / PSP
StripeSquare
Money movement
in the full report
Banking / BaaS
in the full report
Lending
in the full report
Open banking
in the full report
Sponsor bank
in the full report
Accounting
in the full report
Accounting gap: minor
8 more providers across 6 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.