Central Payments

Overview
Activities
News
FinTech Infrastructure?
Product stageSegments
Early
?
Banking services
?

Central Payments, founded in 2014 and spun out from the Central Bank of Kansas City (CBKC) in August 2022, offers a white-label, cloud-based banking-as-a-service (BaaS) platform offering solutions ranging from deposits and payments to issuing cards. In August 2022, the company claimed to be the fastest growing prepaid card issuer in the US since 2015. Central Payments lets users leverage its banking charter and issuing capabilities, including FDIC insurance and Fed connectivity.


Key customers and partnerships

The company operates a FinTech accelerator dubbed “Falls Fintech.” In February 2022, several graduates from the accelerator became customers of Central Payments, including Kinly, Wellthi, Soon, and DraftFuel. Other customers of Central Payments include Fourth Enterprises and Tapcheck.


Funding and financials

The company raised USD 30 million in growth equity stryIds=53 led by Castle Creek Capital in August 2022 to invest in expanding its operations and business reach.


HQ location:
420 W. 4th Street Dell Rapids SD USA
Founded year:
2012
Employees:
11-50
IPO status:
Private
Total funding:
USD 30.0 mn
Last Funding:
USD 30.0 mn (Series Unknown; Aug 2022)
Last valuation:
-
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