Embedded-finance provider tracked in the Embedded Finance Index — disclosed by 7 companies across 1 category.
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Founded 2021 as a double-entry ledger API for engineers building fintech apps. Through 2024-2025 Fragment was positioned as 'Modern Treasury for the backend ledger layer.' In 2026 the company pivoted into a broader 'financial system for agents' thesis — adding Payments and Recon products, launching an MCP server so LLMs can read/write money flows, and repositioning as the control plane for AI-driven commerce rather than just a ledger primitive.
Other Ledger providers in the index, by the number of companies that disclose them. A count of public disclosures, not a ranking of the products.
An embeddable badge for Fragment’s own site — it always shows this page’s current rank, so it stays accurate as new disclosures land. States its own denominator; never claims a number this page doesn’t.
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alt="Ranked #4 of 23 in Ledger — Embedded Finance Index 2026">
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<img src="https://www.embeddedfinanceindex.com/api/badge/fragment/install" width="1" height="1" alt="" style="display:none">7 companies are linked to Fragment in the Embedded Finance Index 2026, through their own public disclosures or Fragment's published customer list, including TruckSmarter, Ramp, NALA, Basic Capital, Whop, Atob and Pleo.
Fragment is an embedded-finance provider in Ledger. It ranks #4 of 23 Ledger providers by linked companies.
The most-named Ledger alternatives to Fragment are Modern Treasury (35 buyers), mambu (12 buyers), Formance (11 buyers), Layer (7 buyers), Temenos (7 buyers) and Thought Machine (7 buyers).
Fragment was founded by Thomas Neckel and Omi Chowdhury and is founded in 2021, headquartered in New York, NY, USA.
Fragment has raised $19.55M in total.
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