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Unit delivers an embedded finance platform that empowers businesses to integrate banking services directly into their own products. The company provides a comprehensive suite of core financial functionalities, including accounts and wallets, diverse money movement options such as ACH and wire transfers, card issuing capabilities for branded debit and credit cards, and capital solutions like lines of credit. These offerings are accessible through flexible APIs and as ready-to-launch, fully managed solutions, allowing clients to build custom financial experiences.
Founded in 2019 by Itai Damti and Doron Somech, Unit originated from the co-founders' collective insight into the evolving landscape of financial services. Having worked together previously, Damti and Somech identified a significant opportunity for technology companies to offer integrated financial products without building an entire banking infrastructure. Their vision centered on simplifying this process through a developer-friendly platform, bridging the gap between innovative software and essential financial tools.
Unit’s platform caters to modern software platforms and technology companies seeking to enhance their customer experience and diversify revenue streams through integrated financial services. The company's overarching vision is to enable any business to launch sophisticated money solutions, fostering deeper customer engagement and unlocking new economic value. Unit aims to be the foundational infrastructure for the next generation of financial innovation embedded within various digital products.
Unit has raised $188.0M across 5 funding rounds.
Key people at Unit.
Unit has raised $188.0M in total across 5 funding rounds.
Unit is a leading fintech company that provides an embedded finance platform, enabling tech companies to integrate banking, payments, capital, and bill pay features directly into their products without building from scratch. It serves businesses, independent workers, and consumers by offering ready-to-launch solutions like accounts, wallets, money movement, card issuing, and lending, solving the problem of complex financial integrations while accelerating launches to as little as three weeks.[2][3][5] Backed by top investors and trusted by major partners, Unit has achieved significant growth, including a $100M Series B at $1.2B valuation and features in Forbes Fintech 50 for 2025, positioning it as a market leader in banking-as-a-service (BaaS).[2][3]
Unit emerged as a fintech innovator focused on simplifying financial services embedding, with early funding including a $51M Accel-led Series B to expand its BaaS platform. Key milestones include launching tools for charge cards, business continuity for failing fintech partners, and collaborations like Thread Bank for BaaS expansion.[3] The company gained traction amid rising demand for embedded finance, raising $100M in Series B at $1.2B valuation, as noted in TechCrunch, and securing partnerships with banks like Vantage Bank and Lincoln Savings Bank.[2][3] Its evolution reflects adaptation to regulatory scrutiny and market shifts, such as "direct" BaaS middleware and the "Great Bank Unbundling."[3]
(Note: Specific founder details and exact founding year are not detailed in available sources; Unit is distinguished from UNIT Technology Corporation, a separate Vietnam-based firm founded in 2010 specializing in finance software.[1][4])
Unit rides the embedded finance trend, where non-banks integrate financial services to boost revenue and engagement—doubling average revenue per customer by offering "smarter money experiences" inside apps.[3][5] Timing aligns with accelerating fintech growth, post-regulatory scrutiny that favors compliant platforms like Unit's BaaS middleware, signaling "the end of the beginning" for the model amid bank unbundling and direct partnerships.[3] Market forces include gig economy expansion, enterprise demand for all-in-one platforms, and partnerships with banks, influencing the ecosystem by enabling faster fintech launches and reducing failure risks via tools like business continuity features.[2][3]
Unit is poised to dominate embedded finance as enterprises prioritize scalable, compliant platforms amid ongoing regulatory evolution and BaaS maturation. Trends like AI-driven personalization, expanded charge cards, and global money movement will shape its path, potentially amplifying influence through more public company wins and middleware innovations. As the go-to for tech firms embedding finance, Unit's trajectory ties back to its core strength: turning complex banking into seamless product features that drive outsized growth.[3][5]
Unit has raised $188.0M across 5 funding rounds. Most recently, it raised $18.0M Series U in February 2025.
Key people at Unit.
Unit has raised $188.0M in total across 5 funding rounds.
Unit's investors include Accel, Aleph VC, Better Tomorrow Ventures, FundersClub, Insight Partners, Twenty Seven Ventures, Benchmark, Coatue, Comal Ventures, Data Tech Fund, Felicis Ventures, Flex Capital.
