“Can a contractor payroll platform become the embedded infrastructure layer that every HCM, PEO, and payroll platform uses to serve the 1099 workforce?”
Founded in 2019 as a direct contractor payroll platform, Wingspan built end-to-end lifecycle management — onboarding, payments, 1099 compliance, and banking — specifically for 1099 workers at a time when traditional HR platforms were W-2 centric. By 2023 it added a BaaS layer via Lead Bank (Visa debit cards, instant payouts) and deepened its infrastructure with Modern Treasury for ledger and payment automation. In 2025 the company made its most significant pivot: launching Wingspan Embed, repositioning from a direct SaaS tool to an embedded infrastructure provider for HCM, PEO, and payroll platforms that want to serve contractor workforces — monetizing as B2B2C infrastructure rather than solely as an end-employer tool.
Wingspan discloses Lead Bank as its banking provider, according to the Embedded Finance Index 2026.
Wingspan does not disclose a bank charter of its own; its banking services are provided through Lead Bank.
Wingspan moves money over ACH.
Wingspan's cards are issued through Lead Bank.
Wingspan runs its ledger on Modern Treasury.
Wingspan integrates with QuickBooks and Xero.
The Embedded Finance Index 2026 maps 7 layers in Wingspan's stack: Money movement (ACH); Banking / BaaS (Lead Bank); Card issuing (Lead Bank); Ledger (Modern Treasury); Sponsor bank (Lead Bank); Accounting (QuickBooks and Xero); Treasury (Modern Treasury).
Wingspan was founded by Anthony Mironov and Greg Franczyk and is founded in 2019, headquartered in New York, NY, USA.
Wingspan has raised $54M in total (latest round: Series B, July 2025).
Get a read on where your own stack stands against Wingspan and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.