Dapi
“Can a single open banking API serve as the full embedded finance infrastructure layer for fintechs in emerging and underserved markets?”
Founded2019
HQSan Francisco, California, United States
Total raised$5.1M
Latest roundSeed, 2022
IndustryInfrastructure / Open banking
The story
Founded in 2019, Dapi started as a unified open banking API bridging applications to users' bank accounts, primarily in underserved markets like MENA. The company expanded from pure data aggregation and account-to-account payments into a broader banking-as-a-service platform, adding card issuance, virtual accounts, ledger/accounting, disbursements, crypto on-ramp, and treasury solutions. It positions itself as an open-source, AI-powered real-time banking API for fintech builders globally, competing with Plaid and TrueLayer in emerging markets.
Last 12 months
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Product timeline
2019
Dapi founded as an open banking API provider targeting MENA and emerging markets.· pivot
2020
Launched Data API and Payment API for bank account data aggregation and account-to-account payments.· banking
2021
Raised $3M seed round; expanded bank coverage across multiple regions.· banking
2022
Added Wire API for US-only wire payments; expanded BaaS product suite including virtual accounts, card issuance, and ledger/accounting integration.· card
2023
Launched crypto on-ramp products (US and global), treasury solutions, and reconciliation product.· banking
The stack
1 layer disclosed in Dapi’s embedded-finance stack
Open banking
Dapi
Accounting gap: minor