One
“Can a digitally-native bank built on BaaS infrastructure meaningfully capture the underbanked American middle class from traditional banks and premium-focused fintechs?”
One launched in 2019 as a neobank explicitly targeting the American middle class — a demographic underserved by premium fintech products. Co-founded by former PayPal and Intuit CEO Bill Harris, the company positioned itself as a full-stack digital bank rather than a narrow feature product. The company leveraged Synctera's BaaS platform for its core banking infrastructure rather than building its own bank charter, allowing faster go-to-market. Evidence suggests the company reached Series B stage, though details of later rounds are not publicly disclosed in available evidence.