WebBank
Also a provider — view WebBank’s profile →“Can a Utah ILC remain the dominant charter partner for U.S. fintech lending and card programs as sponsor-bank scrutiny intensifies?”
Founded1997
HQSalt Lake City, Utah, United States
IndustryBank / Sponsor
The story
WebBank is a Utah-chartered Industrial Loan Company (ILC) that has quietly become one of the most important sponsor banks in U.S. fintech. Since 1997 it has operated a 'Bank Behind the Brand' model — providing the charter, compliance, and origination infrastructure that lets non-bank fintechs (Prosper, Avant, Klarna, PayPal Working Capital, Petal, Dell Financial Services, Zip, BILL, CAN Capital, Capital on Tap, Libertas) issue loans and cards. It was a pioneer of marketplace lending partnerships and has originated over $150B in consumer and commercial credit through its Strategic Partner program.
Product timeline
1997
WebBank chartered as a Utah Industrial Bank; launches Banking-as-a-Service program.· banking
2005
Pioneers marketplace lending partnerships (e.g., Prosper).· lending
2020
Continues expansion as sponsor bank behind BNPL and fintech card programs (Klarna, Avant, PayPal Working Capital, Petal, Dell Financial Services).· lending
2024
Cumulative originations surpass $150B across consumer and commercial credit.· lending
2025
Zip (WebBank-originated BNPL loans) expands partnership with Stripe in the U.S.· lending
Regulated entities
1
regulatory licence held by WebBank
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
4 layers disclosed in WebBank’s embedded-finance stack
Banking / BaaS
Card issuing
in the full report
Lending
in the full report
Sponsor bank
in the full report
Accounting gap: none
30 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.