Fullsteam
“Can a vertical SaaS roll-up become the embedded finance operating system for niche SMB markets by layering payments, capital, insurance, and spend management onto acquired software businesses?”
Founded in 2018, Fullsteam is a roll-up platform that acquires and operates vertical-specific business management software companies across healthcare, field services, specialty retail, and other niche markets, embedding its own payment processing gateway into each acquired business. Over time, Fullsteam has layered additional embedded finance products — including merchant capital (via Parafin), insurance, and treasury management (via Brex) — on top of its core payments infrastructure, evolving from a pure payments aggregator into a broader embedded finance platform for vertical SaaS companies and their SMB customers. As of 2024-2025, Fullsteam serves over 70,000 businesses across more than 2,000 employees, with 68+ acquisitions completed.