← State of Embedded Finance 2026

GreatAmerica

Can a family-owned equipment finance company become the embedded financial services backbone for technology vendors, MSPs, and equipment dealers by layering billing, usage programs, and capital on top of its leasing infrastructure?

Founded1992
HQCedar Rapids, Iowa, United States
Total raised$655.3M
IndustryFintech / Lending
The story

Founded in 1992, GreatAmerica started as a traditional commercial equipment leasing company. Over time it expanded beyond direct leasing to offer vendor financing programs for manufacturers, distributors, and resellers — essentially becoming embedded finance infrastructure for equipment vendors. The company has increasingly built out adjacent services including custom billing, usage-based programs, and As-A-Service program support, moving from pure capital provider toward a financial technology platform for managed service providers and technology resellers.

Last 12 months
2024-01
2025-03
Product timeline
1992
GreatAmerica Financial Services Corporation established in Cedar Rapids, Iowa as a commercial equipment finance company.· lending
2024
GreatAmerica Leasing Receivables Funding, L.L.C. issued Series 2024-1 ABS securitization backed by 42,796 equipment leasing contracts.· lending
2025
Expanded connected technology division with Jonathan Fales as VP/GM to serve VAR and national service provider markets.· pivot
The stack
Lending
Equipment leasingEquipment financingVendor financing programsAs-A-Service programsUsage-based billing programsCustom billing / bundled invoicingWhite Cap financing (powered by GreatAmerica)Service provider rental/refresh programs
KYC
Middesk
Accounting
QuickBooksXeroSage IntacctConnectWise ManageDatto Autotask PSAKaseya BMS
Accounting gap: minor