UPS Capital
“Can UPS monetize its shipper base by embedding insurance, payments, and trade-finance products into the parcel-delivery workflow?”
Founded1998
HQAtlanta, Georgia, United States
IndustryFintech / SMB banking
The story
Founded in 1998 as a captive financial services arm of UPS, initially built around enhancing the traditional C.O.D. product for UPS shippers. Expanded into asset-based lending, factoring, equipment leasing, and small-business credit cards, then evolved toward cargo insurance and supply-chain protection as its dominant product line. Today the business is primarily a global insurance broker (UPS Capital Insurance Brokers) plus payment services (C.O.D. Direct, cross-border payments), rather than a traditional lender.
Last 12 months
—
Product timeline
1998
UPS Capital founded as a financial services division within UPS, leveraging C.O.D. as core offering.· banking
2017
Launched cross-border payments service powered by Payoneer.· banking
Acquisitions
Roadie2021
Last-mile/local-delivery marketplace connecting merchants and consumers with contract drivers; UPS Capital had backed Roadie's funding rounds since 2015 before the full acquisition.
Parcel Pro2015
Independent logistics provider specializing in jewelry, wristwatch, and collectibles shipping — added supply-chain risk-mitigation expertise for high-value goods.
Regulated entities
3
regulatory licences held by UPS Capital
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
5 layers disclosed in UPS Capital’s embedded-finance stack
Payments / PSP
UPS Capital Payment Services (self-operated)Chase Paymentech
Money movement
in the full report
Lending
in the full report
Insurance
in the full report
FX & payouts
in the full report
Accounting gap: none
9 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.