Icreditworks
“Can iCreditWorks become the dominant PaaS infrastructure layer for embedded point-of-sale lending across US enterprise verticals?”
Founded2020
HQIselin, NJ, USA
FoundersStephen Sweeney
Total raised$60M+ (disclosed rounds)
Latest roundSeries undisclosed, April 2025
Valuation$200M (2022, pre-2025 round; 2025 valuation undisclosed)
IndustryFintech / Lending
The story
Founded in 2020 as a point-of-sale financing company, iCreditWorks rapidly evolved into a Platform-as-a-Service (PaaS) provider enabling financial institutions, enterprise networks, and large brands to embed POS lending solutions. The company's digital payments infrastructure — including in-app Tap to Pay virtual card issuance — distinguishes it from pure-play lenders. Its 2025 $60M raise is explicitly directed at expanding into new verticals and signing new PaaS partnerships, signaling a shift from direct consumer lending toward becoming embedded lending infrastructure.
Product timeline
2020
Founded by Stephen Sweeney with initial focus on point-of-sale (POS) financing.· lending
2022
Received strategic investment from WebBank, valued at $200M; WebBank relationship enables loan issuance.· banking
2025
Raised $60M led by Comvest Partners and Barings with RedBird Capital follow-on to fuel PaaS expansion and new vertical entry.· lending
The stack
3 layers disclosed in Icreditworks’s embedded-finance stack
Payments / PSP
iCreditWorks Virtual Card (self-operated)Tap to Pay virtual card (self-operated)
Lending
in the full report
Sponsor bank
in the full report
Accounting gap: none
4 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.