Unit, a Tel Aviv, Israel and NYC-based banking-as-a-service startup that empowers companies to embed financial services into their products, raised $51m in Series B funding.
The round was led by Accel with participation from existing investors Better Tomorrow Ventures, Aleph, Flourish Ventures, and TLV Partners.
The company intends to use the funds to expand the team, accelerate growth, and fast-track its product offering to enable companies to build banking products in minutes.
Led by CEO and cofounder Itai Damti, Unit is a banking-as-a-service platform that empowers companies to embed financial services into their product. Its platform accelerates time to market and enables companies to build and launch bank accounts, cards, payment, and lending products.
The company is also announcing the launch of Unit Go, a solution that will allow companies to create live bank accounts and issue physical and virtual cards in minutes. Unit Go is currently in beta and will be available to the public in the fall of 2021.