← State of Embedded Finance 2026

Firstbase

Can a company formation platform become the full back-office operating system for global founders by using its incorporation data to unlock embedded financial services?

Founded2019
HQNew York, NY, USA
FoundersMark Milastsivy
IndustryVertical SaaS / Legal
The story

Firstbase launched in 2019 as an incorporation platform targeting global founders who wanted to start US companies without a US presence. Over time it expanded beyond formation into ongoing business operations — adding compliance (registered agent), accounting, tax filing, and a virtual mailroom under the 'Firstbase One' bundle. The Loop integrations marketplace represents its embedded finance push: using the incorporation data it holds to pre-fill and fast-track applications for third-party banking, payments, payroll, and FX products, monetizing its captive base of 30,000+ incorporated startups from 191 countries.

Last 12 months
Product timeline
2019
Founded as an incorporation and company formation platform enabling anyone globally to start a US LLC or C-Corp.· pivot
2022
Launched Firstbase Loop, an integrations library providing one-click access to banking, payments, payroll, accounting, and other business tools using company data.· banking
2022
Partnered with Wise Platform to integrate instant cross-border payments directly into Firstbase Loop.· banking
2022
Partnered with Arc to offer FDIC-insured business banking accounts, corporate cards, and international wires to newly incorporated companies.· banking
2024
Launched Firstbase One, a bundled suite offering accounting, registered agent services, virtual mailroom, and tax filing under a single annual subscription.· pivot
The stack
Payments / PSP
Stripe
Banking / BaaS
Arc
FX & payouts
Wise Platform
Accounting gap: minor