New credit models: embedded working capital, revenue-based financing, BNPL for businesses and lending infrastructure.
| # | Company | Stage | Raised | Embeds |
|---|---|---|---|---|
| 1 | Embedded working capital financing for SMEs · United Arab Emirates · founded 2023 | Series A 2026 | $170M | Lending |
| 2 | Revenue-based and invoice financing for SMEs · United Arab Emirates · founded 2022 | Series A 2025 | $149M | Lending |
| 3 | Embedded lending infrastructure for SMBs · Germany · founded 2021 | Series A 2024 | $60M | Money movementCard issuingLending |
| 4 | Revenue-based financing for e-commerce · Cairo) · founded 2021 | Series A 2024 | $38.8M | Lending |
| 5 | Autonomous billing and collections platform · United States · founded 2021 | Series A 2025 | $35M | Payments / PSPBanking / BaaSSponsor bank |
| 6 | Payments and financing for technology purchases · USA · founded 2021 | Series A 2024 | $31.7M | Banking / BaaSLendingSponsor bank |
| 7 | Embedded lending API for platforms · Mexico · founded 2020 | Series A 2024 | $24M | Lending |
| 8 | SaaS subscription receivables financing · Germany · founded 2021 | Series A 2025 | $20M | LendingUnified APIs |
| 9 | Education installment payment plans · Saudi Arabia · founded 2022 | Series A 2024 | $6.6M | Payments / PSPBanking / BaaSLedgerLending+1 |
| 10 | Receivables-backed credit line infrastructure for SMEs · UK · founded 2024 | Series A 2025 | $5M | Payments / PSPBanking / BaaSLendingOpen banking+2 |
| 11 | Interest-free instalment payments at checkout · Morocco · founded 2022 | Seed 2025 | — | Lending |
| 12 | AI-driven SME credit scoring · Morocco · founded 2024 | Seed 2024 | — | Lending |
All 12 that qualify, by total raised. Qualifying means founded in 2018 or later, a pre-seed, seed or Series A round in 2024or later, at most $250M raised, and at least one financial product embedded in the stack. Funding is as reported in each company’s dossier; descriptions are written from the dossier. Click a company for what it embeds and who powers it.