Unit

Established in 2019 in San Francisco and founded by Itai Damti and Doron Somech, Unit is a company developing a platform allowing third parties to integrate banking services into their businesses. The Banking-as-a-Service company helps tech companies build financial features into their products: accounts, cards, payments, lending and others. Unit is backed by Accel, TLV Partners, Better Tomorrow Ventures, Aleph, Flourish Ventures, Operator Partners, and others. The company's services have been used by Bridge, Wethos, Benepass, Moves, Tribevest and more.

The Unit system allows companies to build financial features directly into their product, including options like linking bank accounts, credit cards, payments, lending products, and others. The company's BaaS (Banking as a Service) infrastructure helps enterprises meet specific regulatory compliance. The platform assists its customers in implementing financial services into their core technologies.According to CEO and co-founder Itai Damti,

At Unit, our mission is to help companies launch new banking products that unlock value and expand financial access for all. We designed Unit to be the simple, powerful infrastructure to power the new generation of fintech builders. Quality infrastructure expands the financial ecosystem — launching new companies, and growing revenues at existing ones.”

In 2021, Unit announced the development of Unit Go, which will allow companies to create live bank accounts and issue physical and virtual cards. Unit Go became available to the public in the fall of 2021. Since Unit launched out of stealth in December 2020, the company's platform has been used for building accounts, cards, payments, and lending products. In 2021, the company's deposit volume grew by 300%, and new end users by 600%. Companies have been able to utilize Unit’s approach, which combines technology built on a native core and ledger, compliance, and bank relationships to launch.