← State of Embedded Finance 2026

Yapeal

“Can a FINMA-licensed Swiss BaaS provider become the full-stack embedded finance infrastructure layer for Swiss banks, fintechs, and digital platforms — owning the regulatory, card-issuing, account, and lending stack from a single API?”

Founded2018
HQZürich, Switzerland
IndustryInfrastructure / BaaS
The story

Founded in 2018 as a Swiss digital financial services provider, Yapeal secured Switzerland's first FINMA FinTech banking license in 2020, positioning itself as a regulated infrastructure layer rather than just a consumer app. The company pivoted toward a dual-track model — YAPEAL Direct (consumer and SMB accounts/cards) and YAPEAL Embedded (BaaS APIs for banks, fintechs, and digital platforms). By 2026, Yapeal extended its embedded stack to include lending via a Kamuno partnership, evolving from a card/account issuer into a full embedded finance platform targeting banks, corporates, and digital platforms across Switzerland.

Last 12 months
2026-02
Product timeline
2018
YAPEAL AG founded in Zürich, Switzerland.· pivot
2020
YAPEAL becomes the first company to receive Switzerland's FINMA FinTech banking license (Art. 1b Swiss Federal Banking Act) in March 2020.· banking
2021
YAPEAL launches its BaaS program (active as of 2021), offering Payments, Cards, Accounts, KYC/AML, FX, Crypto, and Open Banking services via REST API.· banking
2021
YAPEAL partners with Marqeta to power its digital wallet and card-issuing infrastructure.· card
2026
YAPEAL announces strategic partnership with Kamuno to offer Embedded Lending for Swiss SMEs, with credit lines up to CHF 250,000.· lending
Regulated entities
FinTech License (Art. 1b Swiss Federal Banking Act)
Switzerland (FINMA) · 2020
YAPEAL AG
The stack
Banking / BaaS
YAPEAL AG (in-house)
Card issuing
Marqeta
Lending
Business Loan by Kamuno (up to CHF 250,000)Flexible credit line for Swiss SMEs
Accounting
Abacus
Accounting gap: minor