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Sila

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“Can a single API platform compress the entire US banking and payments compliance stack into developer-friendly infrastructure for fintech builders?”

HQPortland, OR, USA (1022 NW Marshall Street, Suite 480, Portland, OR 97209)
FoundersShamir Karkal
IndustryInfrastructure / BaaS
The story

Sila was founded by Shamir Karkal, co-founder of Simple (the original US neobank, sold to BBVA in 2014), as a payments infrastructure-as-a-service business. Rather than building another consumer fintech, Karkal pivoted to the infrastructure layer — providing ACH rails, digital wallets, KYC/KYB compliance, and the SilaUSD stablecoin as an API platform for fintech developers. Sila operates as an agent of financial depository institutions, enabling B2B customers to embed banking and payments without holding their own licenses.

Last 12 months
—
Product timeline
2019
Sila launched its Money API providing ACH rails, digital wallets, KYC/KYB, and bank account linking for fintech developers.· banking
2022
Sila launched international money transfer API integration, expanding beyond domestic ACH.· banking
2023
Sila partnered with Sivo to make debt financing/debt-as-a-service available to its ecosystem customers.· lending
The stack
7 layers disclosed in Sila’s embedded-finance stack
Money movement
ACH
Banking / BaaS
in the full report
Lending
in the full report
Open banking
in the full report
Unified APIs
in the full report
Sponsor bank
in the full report
FX & payouts
in the full report
Accounting gap: minor
8 more providers across 6 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.

Sila — frequently asked

What bank does Sila use?

Sila discloses Undisclosed financial depository institution partners (agent model, in-house operation) as its banking provider, with Undisclosed financial depository institution partners as its sponsor bank, according to the Embedded Finance Index 2026.

Is Sila a bank?

Sila does not disclose a bank charter of its own; its banking services are provided through Undisclosed financial depository institution partners.

Which payment rails does Sila use?

Sila moves money over ACH.

Who provides Sila's lending?

Sila's lending and capital products are provided by Sivo.

Which open banking provider does Sila use?

Sila connects to bank accounts through Plaid.

Who handles Sila's FX and cross-border payouts?

Sila uses Corpay for FX and cross-border payouts.

What is Sila's embedded finance stack?

The Embedded Finance Index 2026 maps 7 layers in Sila's stack: Money movement (ACH); Banking / BaaS (Undisclosed financial depository institution partners (agent model, in-house operation)); Lending (Sivo, Debt-as-a-service for fintech lenders and Programmatic debt funding lines (up to $20M loan book)); Open banking (Plaid); Unified APIs (Corpay); Sponsor bank (Undisclosed financial depository institution partners); FX & payouts (Corpay).

Who founded Sila?

Sila was founded by Shamir Karkal and is headquartered in Portland, OR, USA (1022 NW Marshall Street, Suite 480, Portland, OR 97209).

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