“Can a Spanish-language neobank win immigrant customers locked out of the US financial system by combining accessible UX with sponsor-bank BaaS infrastructure?”
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.
Seis discloses Unit as its banking provider, with Thread Bank as its sponsor bank, according to the Embedded Finance Index 2026.
Seis does not disclose a bank charter of its own; its banking services are provided through Thread Bank.
Seis processes payments through Stripe.
The Embedded Finance Index 2026 maps 4 layers in Seis's stack: Payments / PSP (Stripe); Banking / BaaS (Unit); Lending (Credit products (immigrant-focused)); Sponsor bank (Thread Bank).
Seis was founded by Trevor McKendrick and is founded in 2021, headquartered in San Francisco, CA (also listed Lehi, UT in PitchBook).
Seis has raised $10M+ in total (latest round: Series A).
Get a read on where your own stack stands against Seis 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.