“Can embedded working capital finance APIs distributed through enterprise software platforms replace direct SMB lending origination as the dominant channel for invoice and supply chain finance?”
Raistone positioned itself as embedded working capital finance infrastructure, offering accounts receivable finance, supply chain finance, and factoring via its Raistone Connect API integrated into ERP suites, AP automation platforms, and B2B payments systems. The company grew to $1B+ of financing per quarter by embedding into enterprise software rather than direct-to-borrower origination. In late 2025, the bankruptcy of First Brands Group — which represented an estimated 80%+ of Raistone's revenue — triggered a financial crisis at the firm, forcing layoffs and a search for a rescue or sale, exposing the concentrated client-dependency risk of its model.
Raistone integrates with ERP Suites (generic), Invoicing, Billing & Accounting Systems (generic) and AP Automation platforms (generic).
The Embedded Finance Index 2026 maps 2 layers in Raistone's stack: Lending (Accounts Receivable Finance, Supply Chain Finance, Invoice Factoring and Working Capital Finance (embedded via Raistone Connect API)); Accounting (ERP Suites (generic), Invoicing, Billing & Accounting Systems (generic) and AP Automation platforms (generic)).
Raistone is headquartered in United States.
Get a read on where your own stack stands against Raistone and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.