“Can a single flexible benefits card platform become the default infrastructure for how employers fund and control employee benefit spending across pre-tax and post-tax programs globally?”
Founded in 2019 as a Y Combinator company, Benepass reimagined employee benefits by consolidating pre-tax accounts (HSA, FSA, HRA, Commuter) and post-tax lifestyle spending accounts onto a single Visa card. The company built card-first fintech infrastructure — using Unit for BaaS — to enforce spending rules in real-time at the merchant level. After establishing a strong SMB customer base, the 2026 Series B positions Benepass to move upmarket into larger, more complex enterprise employers while managing growing healthcare cost pressures.
Benepass discloses Unit as its banking provider, according to the Embedded Finance Index 2026.
Benepass does not disclose a bank charter of its own; its banking services are provided through Unit.
Benepass's cards are issued through Unit.
The Embedded Finance Index 2026 maps 2 layers in Benepass's stack: Banking / BaaS (Unit); Card issuing (Unit).
Benepass was founded by Jaclyn Chen (CEO), Kabir Soorya (CTO) and Mark Fischer (COO) and is founded in 2019, headquartered in New York, New York, United States.
Benepass has raised $54.7M in total (latest round: Series B, January 2026).
Get a read on where your own stack stands against Benepass 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.