Cheqly
“Can a BaaS-powered neobank built specifically for US startups and SMEs become the default financial OS for founders from incorporation to IPO?”
Founded2020
HQSan Francisco, California, USA
FoundersTomas Milar
Total raisedSeed (undisclosed amount)
Latest roundSeed
IndustryFintech / Neobank
The story
Founded in 2020, Cheqly launched as a full-stack neobank targeting US startups and SMEs, going live in mid-2023 powered by Mbanq's BaaS platform and Evolve Bank & Trust as the sponsor bank. The company was seeded by Eqvista, a cap table and valuation platform, reflecting its positioning within the startup ecosystem. Beyond core banking, Cheqly subsequently added a Venture Debt product, signaling an expansion from pure deposit/payments infrastructure toward lending and capital solutions for founders.
Product timeline
2020
Cheqly Inc. founded in San Francisco, inspired by a gap in business banking for startups and SMEs.· banking
2023
Launched US neobank services powered by Mbanq's BaaS platform with Evolve Bank & Trust as sponsor bank, offering business accounts, Visa debit cards, ACH and wire transfers.· banking
2023
Integrated Socure for client identity verification and KYC/fraud mitigation.· banking
2024
Expanded offerings to include Venture Debt product targeting startup founders seeking non-dilutive capital.· lending
The stack
4 layers disclosed in Cheqly’s embedded-finance stack
Banking / BaaS
in the full report
Lending
in the full report
Sponsor bank
in the full report
Accounting gap: significant
3 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.