Backbase
Also a provider — view Backbase’s profile →“Can a banking-software vendor become the AI-native operating system that unifies every incumbent bank's customer channels, employees, and AI agents on top of legacy cores?”
Founded2003
HQAmsterdam, Netherlands
FoundersJouk Pleiter, Gerbert Kaandorp
Total raised$128M (first external round, 2022)
Latest roundGrowth, June 2022
Valuation€2.5B / $2.6B (2022)
IndustryInfrastructure / BaaS
The story
Backbase started in 2003 as an Ajax UI framework vendor before pivoting into banking software, evolving through the 'Engagement Banking Platform' era into today's 'AI-Native Banking OS.' It sits above cores, CRMs, and payment systems as an orchestration layer for 120+ banks. The 2022 Motive Partners round and the 2025 Kasisto acquisition mark a decisive move from digital front-end into agentic banking and end-to-end operations orchestration.
Last 12 months
Product timeline
2003
Founded in Amsterdam by Jouk Pleiter and Gerbert Kaandorp; began as an Ajax framework vendor.· pivot
2022
Raised first external funding of $128M from Motive Partners at a $2.6B valuation.· banking
2025
Announced acquisition of Kasisto to lead the shift to Agentic Banking.· acquisition
2026
Repositioned platform as the AI-Native Banking OS / Unified Frontline; expanded Mastercard Move cross-border integration.· pivot
Acquisitions
The stack
7 layers disclosed in Backbase’s embedded-finance stack
Banking / BaaS
Card network
in the full report
Open banking
in the full report
Unified APIs
in the full report
KYC
in the full report
FX & payouts
in the full report
Accounting
in the full report
Accounting gap: none
6 more providers across 6 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.