Embedded-finance provider tracked in the Embedded Finance Index — disclosed by 35 companies across 4 categories.
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Founded in 2015 as a Payments-as-a-Service API platform, Modulr positioned itself as a direct alternative to commercial transaction banking, providing regulated payment infrastructure (FCA EMI license) to fintechs, lenders, payroll platforms, and enterprise software companies without requiring them to become regulated themselves. Over time the platform expanded from UK Faster Payments and Bacs to SEPA, SWIFT, Open Banking PIS/AIS, and card issuing on Mastercard/Visa. The 2022 Series C funded a pan-European push; by 2026, the company pivoted further outward into the US market via the FIS Money Movement Hub partnership, positioning Modulr as a B2B embedded payments infrastructure layer at global scale.
Other BaaS providers in the index, by the number of companies that disclose them. A count of public disclosures, not a ranking of the products.
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<img src="https://www.embeddedfinanceindex.com/api/badge/modulr/install" width="1" height="1" alt="" style="display:none">35 companies disclose Modulr in their stack in the Embedded Finance Index 2026, including FIS, Yokoy, Conferma, Super Payments, Algbra Labs, Intuit QuickBooks, Cledara, Mimo Bring, Wagestream, Nala Moneys and 2 others.
Modulr is an embedded-finance provider in FX / Payouts, BaaS, Embedded Payments and Card Issuing. It ranks #7 of 347 BaaS providers by disclosed buyers.
Modulr is part of Modulr (independent).
The most-disclosed BaaS alternatives to Modulr are Evolve Bank & Trust (72 buyers), Sutton Bank (64 buyers), Cross River (57 buyers), Pathward (47 buyers), ClearBank (40 buyers) and Thread Bank (35 buyers).
Modulr was founded by Myles Stephenson and is founded in 2015, headquartered in London, UK (Scale Space, 58 Wood Lane, London W12 7RZ).
Modulr has raised ~£161M+ (including £10M grant from Capability and Innovation Fund) in total.
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