Case Study Cheqly
“Can a BaaS-powered neobank purpose-built for US startups become the go-to financial OS for founders from incorporation to IPO?”
Founded2023
HQNaples, Florida, USA
FoundersTomas Milar
Total raisedSeed (undisclosed amount)
Latest roundSeed, 2023
IndustryFintech / Neobank
The story
Cheqly launched in mid-2023 as a neobank targeting US startups and SMEs, leveraging MBanq's BaaS infrastructure and Evolve Bank & Trust as the sponsor bank to offer same-day account opening, ACH, and wire transfers. The company was seeded by Eqvista, a cap table management platform, positioning Cheqly within a broader founder services ecosystem. It subsequently added venture debt as a capital product and Socure-powered identity verification to deepen its fintech stack beyond pure deposit banking.
Product timeline
2023
Cheqly launched in the USA using MBanq's BaaS platform, offering business accounts and debit cards for SMEs and startups, backed by Eqvista seed funding.· banking
2023
Added client identity verification via Socure for KYC/KYB onboarding.· banking
2024
Introduced venture debt product to help founders extend runway with minimal dilution.· lending
The stack
Accounting gap: significant