“Can a consumer-direct ACA enrollment portal survive where the broader portable-benefits-for-freelancers vision could not?”
Catch was founded in 2019 to sell health insurance, retirement plans, and tax withholding directly to freelancers and gig workers — a portable-benefits thesis. Despite raising $18M and getting hard-won regulatory approvals, the company announced in March 2023 it was shutting down. The Catch brand/entity appears to have re-emerged (or continued) as Catch Financial, L.L.C. / Catch Insurance, LLC operating as a CMS-approved Enhanced Direct Enrollment entity for ACA marketplace plans, with the current narrower focus on health insurance enrollment rather than full-stack benefits.
Catch discloses Bangor Savings Bank as its banking provider, according to the Embedded Finance Index 2026.
Catch does not disclose a bank charter of its own; its banking services are provided through Bangor Savings Bank.
Catch's cards are issued through Bangor Savings Bank.
The Embedded Finance Index 2026 maps 2 layers in Catch's stack: Banking / BaaS (Bangor Savings Bank); Card issuing (Bangor Savings Bank).
Catch was founded by Kristen Anderson and Andrew Ambrosino and is founded in 2019, headquartered in New York, NY (previously Boston).
Catch has raised $18.1M in total (latest round: Series A, 2021).
Get a read on where your own stack stands against Catch 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.