← Embedded Finance Index 2026

Maplerad

“Can a single API provide African and global businesses with full-stack embedded finance — accounts, cards, payouts, FX, and stablecoin rails — without requiring them to manage banking relationships or compliance themselves?”

Founded2022
HQSan Francisco, California, United States
FoundersMiracle Anyanwu, Obinna Chukwujioke
Total raised$6M
Latest roundSeed, 2022
IndustryInfrastructure / BaaS
The story

Founded in 2022 as a Banking-as-a-Service infrastructure targeting African markets, Maplerad raised $6M seed led by Peter Thiel's Valar Ventures and emerged from stealth as a global BaaS player. The platform expanded from virtual account issuing to a full-stack embedded finance API covering payouts, FX, card issuing, and identity verification. By 2024 the company began positioning itself as an AI-powered stablecoin payment infrastructure, signaling a pivot toward stablecoin-native global liquidity and cross-border payments rather than pure BaaS.

Last 12 months
2024-01
Product timeline
2022
Maplerad founded by Miracle Anyanwu and Obinna Chukwujioke as a global BaaS platform targeting Africa, raised $6M seed led by Valar Ventures.· banking
2022
Launched virtual account issuing (NGN and USD denominated) enabling businesses to assign bank accounts to customers for bank transfer payments.· banking
2023
Launched card issuing infrastructure supporting Mastercard and Visa virtual and physical payment credentials.· card
2023
Named 2023 On Deck Top Company, expanding product suite to include FX conversion across NGN, USD, GHS, KES, and XAF.· pivot
2024
Positioned as AI-powered stablecoin payment infrastructure, adding stablecoin and cross-border liquidity capabilities.· pivot
Regulated entities
2
regulatory licences held by Maplerad
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
2 layers disclosed in Maplerad’s embedded-finance stack
Money movement
ACHFedwire
Card network
in the full report
Accounting gap: significant
2 more providers across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.