Soldo
Also a provider — view Soldo’s profile →“Can a vertically integrated spend management platform — owning both the software and the e-money licenses — beat the BaaS-reliant competition in Europe?”
Founded2015
HQLondon, UK
FoundersCarlo Gualandri
Latest roundSeries A, 2017 ($11M)
IndustryHorizontal SaaS / Spend Management
The story
Soldo launched in 2015 as a consumer multi-user spending account, then pivoted to a business-focused prepaid card + spend management platform. Uniquely for the sector, Soldo operates its own regulated e-money institutions in both the UK (FCA) and Ireland (CBI), positioning 'Soldo Financial Services' as full-stack embedded finance rather than relying on third-party BaaS providers like Modulr or Railsr. Recent product expansion into bank transfers reflects the broader spend management category's move beyond cards into AP/bill pay.
Last 12 months
—
Product timeline
2015
Founded in London by Carlo Gualandri and banking experts to build multi-user spending accounts.· pivot
2017
Welcomed first customer; raised $11M Series A led by Accel.· banking
2022
Partnered with Yapily to enable open banking top-ups from business bank accounts.· banking
2025
Launched Bank Transfer feature as part of Summer Launch, expanding beyond card-only spend.· banking
Regulated entities
2
regulatory licences held by Soldo
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
8 layers disclosed in Soldo’s embedded-finance stack
Payments / PSP
Soldo Financial Services (in-house)
Banking / BaaS
in the full report
Card issuing
in the full report
Card network
in the full report
Lending
in the full report
Open banking
in the full report
KYC
in the full report
Accounting
in the full report
Accounting gap: none
15 more providers across 7 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.