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Unit

Also a provider — view Unit’s profile →

Can a BaaS middleware layer become the compliant, bank-agnostic operating system for every SaaS platform embedding financial products?

Founded2019
HQNew York, NY / Tel Aviv (dual HQ)
FoundersItai Damti, Doron Somech
Total raised~$170M
Latest roundSeries C, 2022
Valuation$1.2B
IndustryInfrastructure / BaaS
The story

Founded 2019 by Itai Damti and Doron Somech, Unit built a modern BaaS platform positioned as the technical middleware between sponsor banks and software companies wanting to embed accounts, cards, and payments. Following the 2023-2024 BaaS shakeout (Synapse collapse, Evolve/Blue Ridge consent orders), Unit leaned hard into compliance/program-management as its wedge — publishing thought leadership on third-party risk management and adding a business continuity tool for failed fintechs. In 2025 the company moved up-stack from raw APIs to Ready-to-Launch managed solutions (banking, capital, bill pay in one line of code), targeting vertical SaaS platforms rather than pure fintech builders.

Last 12 months
2026
2026
2025-07
Product timeline
2019
Founded by Itai Damti and Doron Somech in NYC / Tel Aviv to build embedded banking infrastructure.· founding
2021
Raised $51M Series B led by Accel.· funding
2021
Announced Plaid integration partnership for external account linking.· banking
2022
Launched native Intuit / QuickBooks integration for embedded accounting.· banking
2022
Raised $100M Series C at $1.2B valuation led by Insight Partners.· funding
2023
Launched Charge Cards product; expanded to bank-sponsored and client-sponsored charge card programs.· card
2024
Thread Bank partnership expanded amid post-Synapse market consolidation.· banking
2025
Launched Ready-to-Launch: fully managed embedded Capital, Banking, and Bill Pay solutions.· banking
2026
Doubled annual transaction volume to $100B; named to CNBC World's Top Fintech Companies 2026.· growth
In the press
embeddedfinancereview.com
Coverage sourced from Embedded Finance Review — a content partner for this report. All articles are © their original authors; click any card to open the source.
◇ article2025-11-30
Green Dot splits its bank and embedded finance unit
Green Dot is splitting into two businesses: Smith Ventures will acquire the embedded finance unit known for powering Uber's checking account, while CommerceOne acquires the bank. Here's why the separation unlocks growth.
green dotunit
Source · Embedded Finance Review ↗
◇ article2025-11-12
French Rail Operator SNCF's Digital Unit Launches Expense Management Platform with Embedded Cards
SNCF Connect & Tech launches Tesmo Business Mobility, an expense management platform with embedded cards powered by French BaaS provider Swan, targeting SME travel spending.
unit
Source · Embedded Finance Review ↗
◇ article2025-07-18
Unit Expands Beyond Banking to Launch Embedded Lending for SaaS Providers
Unit launches embedded lending for SaaS providers like Honeybook and Homebase. Will large SaaS companies prefer all-in-one infrastructure or specialized best-of-breed providers?
unit
Source · Embedded Finance Review ↗
◇ article2024-12-16
Danish neobank Lunar spins out banking infrastructure unit
Danish neobank Lunar spins out Moonrise for Nordic embedded banking. Why it's infrastructure not BaaS and solves three-currency market challenges.
unit
Source · Embedded Finance Review ↗
◇ article2024-11-16
The banking-as-a-service unit of SEB chooses Thought Machine for new products
SEB Embedded selects Thought Machine's Vault Core for BaaS launching retailer Hemköp in 10 months. Why no single core banking provider dominates.
sebunit
Source · Embedded Finance Review ↗
◇ article2024-08-11
Unit empowers two more US banks to enter embedded finance; who is doing the same in Europe?
Unit signs two US banks for direct-to-bank embedded finance after consent orders. Does Europe need similar providers beyond UniCredit-Vodeno and SEB to enable banks?
unit
Source · Embedded Finance Review ↗
◇ article2024-03-18
Gaming company Razer rebrands its fintech unit
Gaming hardware company Razer rebrands fintech unit to Fiuu after doubling Southeast Asia revenue to $295M by 2025. How brand leverage works in embedded finance.
unit
Source · Embedded Finance Review ↗
◇ article2024-01-27
Sainsbury's winds down banking unit | US partner banks under pressure | Why lesser embedded finance is better
Amazon faces critism for shutting its insurance store in the UK, healthcare provider in India can use a new embedded card solution, a new Embedded Finance report focusing on SaaS and marketplaces.
unit
Source · Embedded Finance Review ↗
The stack
10 layers disclosed in Unit’s embedded-finance stack
Money movement
ACHRTP
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
Unified APIs
in the full report
KYC
in the full report
Sponsor bank
in the full report
Accounting
in the full report
Accounting gap: minor
20 more providers across 9 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.