Seis
“Can a Spanish-language neobank win immigrant customers locked out of the US financial system by combining accessible UX with sponsor-bank BaaS infrastructure?”
Founded2021
HQSan Francisco, CA (also listed Lehi, UT in PitchBook)
FoundersTrevor McKendrick
Total raised$10M+
Latest roundSeries A
IndustryFintech / Neobank
The story
Seis launched in 2021 as a Spanish-language neobank targeting immigrants and Spanish-speaking US residents underserved by traditional financial institutions. It scaled rapidly — reaching 500,000 accounts and $10M in annualized revenue within 16 months — by embedding financial products (deposit accounts, debit cards, credit) through Thread Bank and Lead Bank as sponsor banks, and using Unit as its BaaS infrastructure layer. Despite strong growth and customer love metrics, the company announced closure in January 2026, with CEO Trevor McKendrick citing unspecified business challenges.
Product timeline
2021
Seis founded to serve Spanish-speaking immigrants in the US with a Spanish-language banking app.· banking
2022
Incubated in Y Combinator Winter 2022 batch; launched deposit accounts, debit cards, and credit products via Thread Bank and Lead Bank partnerships.· banking
2023
Grew to over 500,000 accounts and exceeded $10M in annualized revenue within 16 months of launch.· banking
2026
Announced shutdown in January 2026 despite 500,000 accounts, 100,000+ 5-star App Store reviews, and $10M annualized revenue.· pivot
The stack
4 layers disclosed in Seis’s embedded-finance stack
Payments / PSP
Banking / BaaS
in the full report
Lending
in the full report
Sponsor bank
in the full report
Accounting gap: none
3 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.