Kreos Capital is Europe's largest and leading provider of growth debt to high-growth companies with revenues up to €150 million. Since 1998, as the pioneer growth debt provider across the UK, Western Europe, Scandinavia and Israel: Kreos has completed nearly 450 transactions and committed €1.8 billion in 14 different countries. Kreos has a proven track record of adding value to portfolio companies and helping them to grow with additional capital and flexibility throughout their business cycle whilst working closely with both the portfolio company management team and their equity sponsors.  The Kreos global team has extensive debt financing, management and equity investing experience, covering the pan-European market from its locations in London, Tel Aviv and Stockholm.  Kreos is a value added partner, able to offer additional capital and more flexibility with lower equity dilution. Kreos's international team has extensive entrepreneurial, debt financing and equity investing experience, covering all local European markets from its locations in London, Tel Aviv and Stockholm.

Kreos Capital

Kima Ventures is one of the world's most active early-stage investors, investing in 2 to 3 startups per week all over the world; providing founders with funding, network, and support for them to reach the next steps of their journey. The firm invests from seed to Series A, mostly as lead investor but also working alongside other investors; backing ambitious founders who work hard to build awesome things that more and more people use everyday. The company helps them to build a great team, to learn very quickly, to keep the right focus and execute towards growth. Kima takes pride of itself in working side-by-side with entrepreneurs. They claim to understand that fundraising is only one step in the company’s journey, that’s why they take quick decisions and make the fundraising process as smooth as possible so the founders can get back to the work of building their business. Kima considers itself not only an investor, but a network of founders and experts sharing a pay it forward mindset. Headquartered in Paris with an office in London, the company was founded and backed by Xavier Niel, founder of Iliad and supporter of entrepreneurs through such projects as 42, Station F and 101projets. Over the last 5 years Kima has invested in over 400 startups in 24 different countries.

Kima Ventures

Correlation Ventures is a new breed of venture capital firm, leveraging world-class analytics to offer entrepreneurs and other venture capitalists a dramatically better option when they are seeking additional capital to complete a financing round.

Correlation Ventures

Lightspeed Venture Partners is a venture capital firm that engages in consumer, enterprise, technology, and cleantech markets. It focuses on seed, early-stage, later-stage, expansion-stage, start-ups, growth companies, and incubation, and specializes in debt financing for start-ups and growth companies. Lightspeed Venture Partners invests in various sectors that include enterprise, consumer, big data, bitcoin, enterprise technology, cleantech, mobile, internet, financial technology, cloud solutions, e-commerce, storage, media, networking, energy, and software, software-as-a-service, information technology, biotechnology, and social.

Lightspeed Venture Partners

Silicon Valley Bank works with technology, life science, cleantech, venture capital, private equity, and premium wine businesses. SVB provides industry knowledge and connections, financing, treasury management, corporate investment, and international banking services to its clients worldwide through 27 U.S. offices and seven international operations.   Banking innovative companies and exclusive wineries, Silicon Valley Bank’s diverse financial services, knowledge, global network, and world-class service increase its clients’ probability of success. Forbes Magazine ranks SVB among America’s Best Banks, and Fortune Magazine named SVB one of the Best Companies to Work For in 2012.

Silicon Valley Bank

83North is a global venture capital firm with more than $1.8B million under management. The firm invests across all stages of consumer and enterprise companies and backed some of the fast-growing category leaders. 83North has two main offices in London and Herzliya.

83North

Menlo Ventures provides capital for multi-stage consumer, enterprise, and life sciences technology companies. Since 1976, the firm’s market-driven analysis has led to the identification of opportunities and successful investments in innovative markets. Notable areas of investment include Marketplaces (Uber, Rover.com, Poshmark); Consumer Services (Tumblr, Betterment, Roku, Siri); Dev/Ops (Harness, Edge Delta, Fire hydrant); SaaS (Carta, ScoutRFP, Qualia, Benchling, Everlaw); Fintech (Betterment, Bluevine, Chime); Cybersecurity (Cavium, IronPort, BitSight, Abnormal, StackRox); and Life Sciences Technology (Synthego, Cofactor Genomics, Recursion Pharmaceuticals, 3T Biosciences). Menlo’s portfolio includes more than 70 public companies, and more than 100 mergers and acquisitions, with $5 billion under management. The firm is currently investing in Menlo Ventures XV, a $500 million early-stage fund, as well as its $500 million Inflection Fund, which targets early-growth investments.

Menlo Ventures

Rakuten is a tech company that offers electronic commerce solutions in Japan and internationally. The company operates in three segments such as internet services, finance services, and others.  The internet services segment comprises businesses running various e-commerce sites, including Rakuten Ichiba, an internet shopping mall; travel booking sites; portal sites; and e-book businesses as well as businesses for advertising and sale of contents and similar on these sites.  Its offerings include e-reading, online travel reservations, online auctions, online marketing, online golf course reservations, portal sites, search engines, integrated internet marketing, online recipe posting and browsing, student recruiting community, online purchase of discount coupons, online shopping, and video on demand services. It is involved in the online sale of books, CDs, and DVDs.  The internet finance segment is engaged in providing services related to banking and securities, credit cards, life insurance, and electronic money. This segment provides credit card payment, internet banking, online brokerage, online comprehensive insurance, and face-to-face and online life insurance services as well as credit card transactions on smartphones and tablets.  The other segments are involved in the provision of communications services such as next-generation LTE-compatible mobile data communication, telecommunications, internet connection and corporate mobile phone services, and management of a professional baseball team.  The company was formerly known as MDM, Inc. and changed its name to Rakuten, Inc. in June 1999. Rakuten, Inc. was founded in 1997 and is headquartered in Tokyo, Japan.

Rakuten

Citi Ventures utilizes Citi's resources to support individuals, businesses, and communities amid technological changes. Based in San Francisco with offices in New York, London, Palo Alto, Tel Aviv, and Singapore, Citi Ventures focuses on discovering new value by exploring, developing, and investing in innovative ideas, and collaborating with Citi employees, clients, and the broader innovation community.

Citi Ventures

Nationwide Mutual Insurance Company & Affiliated Companies is a group of large U.S. insurance and financial services companies based in Columbus, Ohio. Nationwide has grown from a small mutual auto insurer owned by policyholders to one of the largest insurance and financial services companies in the world, with more than $158 billion in statutory assets.

Nationwide Mutual Insurance

M12 - Microsoft’s venture fund, invests in early-stage enterprise software companies with a focus on AI, cloud infrastructure, cybersecurity, developer tools, vertical SaaS, and Web3/Gaming. Since 2016, M12 has invested in over 100 companies, helping startups accelerate growth with unparalleled access to Microsoft.

M12 - Microsoft's Venture Fund

O.G. Venture Partners is a multi-stage venture capital firm that focuses on early-growth opportunities, typically B and C rounds. The firm was founded in 2017 and is headquartered in Monaco. In 2022, O.G. Venture Partners announced Fund II of $400M following the successful $100m Fund I, later expanded to $150m. Fund I has invested in 21 companies since its 2017 launch, with 5 exits to date. The Fund I portfolio includes a large number of fast-growing growth stage start-ups: LendBuzz, WSC Sports, BlueVine, Bringg, Paxos, Connecteam, Elementor, Coralogix, Candivore and SuperPlay.

O.G. Venture Partners

ION Crossover Partners focuses on founders with growth aspirations and businesses with untapped growth potential.​ It aspires to support management teams in scaling their business by utilizing a strategic toolkit that includes IPO preparation. ION Crossover Partners was established in 2018 and is headquartered in Herzliya, Tel Aviv.

ION Crossover Partners

SVB Capital is a venture capital investment arm of [SVB Financial Group the](/financial-organization/svb-financial-group) holding company of Silicon Valley Bank. SVB Capital specializes in fund of funds and direct investments. Within fund of funds, the firm invests predominantly in top brand firms with a small allocation to smaller VC firms. For direct investments, it seeks to co-invest in equity rounds sponsored by other venture capital firms. The firm prefers to invest in the technology sector in the United States. SVB Capital was founded in 2000 and is based in Palo Alto, California.

SVB Capital

Vintage is a global venture firm that invests in venture funds and startups via primary and secondary transactions. Through its secondary strategy, the firm acquires limited partnership interests in Israeli, European, and select U.S. venture capital funds as well as holdings in technology startups. It also invests directly into growth-stage startups across all 3 geographies, alongside partner VC funds.

Vintage Investment Partners

Phoenix Financial is a dynamic Leader in Israeli insurance, asset management, and financial services. Managing $130 billion in assets, Phoenix continues to access Israel's vibrant and innovative economic activity by providing a robust portfolio of products and services for private and corporate clients. The company creates value for its clients and distribution partners through service excellence and constant innovation. Group subsidiaries include Phoenix Insurance, Phoenix Investment House, Phoenix Pension & Provident Funds, Phoenix Gama, and Phoenix Agencies.

Phoenix Financial

Automation positively transforms the lives of people and business. Their software helps you improve decision-making, increase efficiency, simplify complex processes and empower your people. They enable financial institutions, central banks and corporations to digitize and automate their most business critical processes. They are reinventing the way business is done through innovations in automation technology.

Maor operates as a venture capital fund that concentrates on Israeli technology companies already generating revenue. The fund specifically targets those with a proven concept in place and a requirement for scaling up their operations.

Maor Investments

Bluevine

bizi provides businesses to grow with a line of credit with immediate availability and customization.

Bluevine is on a mission to enable a better financial future for small business owners through innovative banking solutions designed just for them.  By combining industry-leading technology and security with our team's expertise and care, we help small businesses spend their time on what matters most—the next chapter of their business.  As a dynamic company with massive potential, we’re backed by leading investors such as Lightspeed Venture Partners, Menlo Ventures, 83North, Citi Ventures, and nearly 9 years of proven success. Since launching in 2013, we have grown exponentially, amassing over 400,000 customers across all 50 states and providing more than $13 billion in financing to small businesses. Our passion is driven by purpose: to give small businesses the tools they need to succeed and we’re just getting started.

BlueVine offers banking services to small businesses via a web portal and mobile app. The company offers both checking accounts and loans, in addition to direct payment services.

Making banking work, without the paperwork

Neobanks

BlueVine

Fintech co BlueVine laying off 30 in Israel

Mastercard

To provide small businesses with a comprehensive banking solution, including a cashback credit card, business checking account, and various tools and services to enhance productivity, cash flow management, and growth.

Platforms, apps, and cards to keep the corporate wallet in check

Business Expense Management

Solutions that enable employees to avoid out-of-pocket spending on business expenses, using company-issued payment cards

Bizi

BlueVine offers banking services to small businesses via a web portal and mobile app. The company offers both checking accounts and loans, in addition to direct payment services.The company’s checking accounts, inclusive of a debit card, do not require a minimum deposit or balance and do not charge monthly service fees. The company offers a 2.00% APY on checking accounts with balances up to USD 250,000. Moreover, customers have the option to choose between checking accounts that offer FDIC insurance up to USD 3 million or the standard USD 250,000. Under its credit segment, BlueVine offers invoice factoring, lines of credit, and term loans. Invoice factoring is offered for values up to USD 5 million, with interest rates starting at 0.25% per week. Meanwhile, lines of credit are offered for values up to USD 250,000, with interest rates starting at 4.8% bi-annually, with durations of six months or one year. In addition, it introduced <a href="https://sp-edge.com/updates/23835">BlueVine Premier</a> in November 2023, a new subscription plan priced at USD 95 per month. This plan offers Business Checking account users a high yield, along with 50% discounts on most standard payment fees, priority customer support, and additional benefits such as access to commercial services typically reserved for large corporations.Key customers and partnershipsThe company offers its banking services in partnership with Coastal Community Bank and Celtic Bank.In August 2021, the company ventured into the insurance segment by partnering with Next Insurance, a small business insurance provider, to offer insurance policies to BlueVine’s customers. This includes coverage for general liability, professional liability, and workers’ compensation, among others.As of December 2023, the company served over 500,000 small business owners, managed over USD 1 billion in deposits, and issued USD 14 billion in loans.Funding and financialsIn September 2020, the company received USD 75 million in funding from Atalaya Capital Management, in the form of a revolving credit facility. The funding was expected to be used to further enhance its product offering, particularly within the credit space.

Brazil-based Nubank offers banking products and services via a web portal and a mobile app, with the application process being done entirely online. The company serves both B2C and B2B segments and operates in Brazil, Mexico, and Colombia.&nbsp;The company initially entered the neobanking space in 2014 by offering credit cards and focused on providing it at low interest rates, compared to established banks. Since then, the company has grown to offer the full spectrum of banking services, which includes checking accounts, debit cards (with ATM access), credit cards, and loans, following the receipt of its own banking license in Brazil in 2017. Checking accounts and debit cards are offered free of charge, and the company therefore solely generates income from these accounts from ATM and interchange fees.In addition to its banking products, the company also offers life and mobile insurance products and Peer to Peer (P2P) payment options via Pix (a payment platform introduced by Brazil’s Central Bank). The company also offers in-app shopping at retailers such as AliExpress, Dafiti, and Magalu, as well as a rewards program that enables customers to earn and redeem points at selected merchants.Nubank also caters to businesses offering digital business accounts and credit cards (virtual and physical cards). The business account enables customers to automate payments as well as earn points on credit card purchases. The credit cards are also compatible with digital wallets such as Google Pay, Apple Pay, and Samsung Pay. The company also offers a payment solution via its app called NuTap, which allows businesses to accept contactless credit and debit payments.Nubank also provides a trading app–NuInvest–through which its Brazilian customers can trade stocks and cryptocurrency, with the company charging ~0.02% per transaction. In addition, it launched its loyalty program, backed by its native cryptocurrency Nucoin, to customers in Brazil <a href="https://sp-edge.com/updates/16847">in March 2023</a>. Members will receive a fixed amount of Nucoins for every BRL spent with their debit or credit card as well as on any cryptocurrency purchases through its app. The Nucoins can be converted into cash or frozen and used to advance in the loyalty program and gain access to future incentives such as coinback rewards and lottery tickets. Moreover, Nubank was selected by the Central Bank of Brazil in August 2023, to <a href="https://sp-edge.com/updates/21164">test Drex</a>, a central bank digital currency (CBDC); the pilot phase is expected to be complete by the end of 2024.Moreover, Nubank has expanded its footprint to Mexico and Colombia. In Mexico, the company provides savings accounts, credit cards, and <a href="https://sp-edge.com/updates/21583">personal loans</a>. It has also applied for a banking license in Mexico to further broaden its services, including investments, payroll portability, and accounts with higher deposit limits. In Colombia, it only offers credit cards. However, it obtained <a href="https://sp-edge.com/updates/25297">regulatory approval</a> to operate as a financing company in January 2024, which allows the company to expand its services to provide savings accounts and other financial offerings.In <a href="https://sp-edge.com/updates/30850">June 2024</a>, Nubank acquired Hyperplane, a Silicon Valley-based data intelligence company building foundation models for banks, for an undisclosed sum. It planned to utilize Hyperplane's AI and data analytics capabilities to train and develop deep-learning models on first-party data to generate insights and enhance its decision-making processes.In December 2021, Nubank was listed on the New York Stock Exchange (NYSE) under the trading symbol NJ, raising nearly USD 2.6 billion, at a valuation of USD 41.5 billion, making it the most valuable listed financial institution in South America.&nbsp;In 2023, the company reported a total revenue of USD 8 billion, marking a 66.67% YoY increase. It also recorded a net profit of USD 1 billion, a significant improvement from the previous year’s loss of USD 364.6 million.Key customers and partnershipsAs of December 2024, the company served more than 93.9 million customers, with the majority located in Brazil.The company partnered with Brazilian lending platform Creditas (<a href="https://sp-edge.com/updates/5565">in September 2021</a>) to allow its customers gain access to the latter’s platform to obtain loans, and EBANX (in July 2023) to launch a new alternative payment service for international purchases called NuPay. In addition, it collaborated with insurance provider Chubb to offer <a href="https://sp-edge.com/updates/19597">life</a> and <a href="https://sp-edge.com/updates/20948">home</a> insurance offerings on its platform.

Nubank

London-based Revolut offers digital banking and lending products to both B2C and B2B segments via a web portal and mobile app. The company holds its own banking license to operate in the UK, Brazil and the European Union.Within its B2C segment, the company offers its products under four tiers. The standard package, which is offered free of charge, enables users to open bank accounts (including joint-accounts), access personal financial management (PFM) tools, make international money transfers and payments, as well as set up bill splitting and recurring payments. The cost for packages with additional features stands between GBP 3.99 to GBP 14.99 per month (for UK customers) and includes features such as insurance, faster money transfers, and disposable virtual debit cards. In addition, Revolut launched <a href="https://sp-edge.com/updates/15855">a top-tier subscription plan called Ultra</a>, priced at GBP 45 per month. This includes a variety of perks such as those centered around travel and investing. The company also expanded into the InsurTech product vertical by launching a new standalone pet insurance product.Business accounts are offered free of charge with additional features (such as multi-currency accounts, debit/credit cards, and financial management tools) being available at GBP 25-100 per month. Revolut also provides hardware for in-person payments in the UK and Ireland through its <a href="https://sp-edge.com/updates/11502">Revolut card reader.</a> It charges GBP/EUR 0.02 + 0.8% per transaction and a one-off cost or customized pricing for high-volume businesses. It also launched an online checkout payment feature (<a href="https://sp-edge.com/updates/12934">Revolut Pay</a>) for businesses, which can be set up on merchant websites and mobile checkout pages via plug-ins or APIs. The company also acquired Nobly POS (Nobly) in November 2021, a technology provider for the hospitality industry, to strengthen its business offering.It also launched a dedicated income, payment, and expense management account–<a href="https://sp-edge.com/updates/13211">Revolut Pro</a>–aimed at freelancers and the self-employed. The account does not charge any monthly fees nor does it require any minimum monthly balance or deposits. In addition to business account features, it also provides a dedicated International Bank Account Number (IBAN) and a 1% cashback debit card to customers. The account can also be used for accepting payments either in-person using the <a href="https://sp-edge.com/updates/11502">Revolut Reader</a> or online with QR codes. In addition, Revolut also offers a streamlined version of its app–<a href="https://sp-edge.com/updates/14797">Revolut Lite</a>–for customers in Latin America, Southeast Asia, and the Middle East, offering cross-border money transfers for free. Moreover, as an alternative to SWIFT payments, Revolut launched <a href="https://sp-edge.com/updates/22016">RevTags</a> for business customers and <a href="https://sp-edge.com/updates/25792">Mobile Wallets</a> for retail individuals, offering a free cross-border payment solution.Revolut also offers a stock trading platform (launched in January 2022) to its US customers, where users can trade over 1,100 securities on the NYSE and NASDAQ, including ETFs and full and fractional shares, at zero commission. It rolled out the platform to EEA customers <a href="https://sp-edge.com/updates/18513">in May 2023</a>, providing access to over 150 ETFs and European listed stocks. Furthermore, Revolut launched a <a href="https://sp-edge.com/updates/19814">robo-advisory platform</a> in the US (in June 2023) and for <a href="https://sp-edge.com/updates/26846">EEA customers</a> (in February 2024), allowing them to automate their investments by selecting from five diverse portfolios based on their risk tolerance. It charges an annual fee of 0.25%, and customers can start investing with a monthly minimum of USD 0.25.In addition, it offers cryptocurrency trading services for customers in Singapore and <a href="https://sp-edge.com/updates/12407">the European Economic Area</a> (through a regulatory approval received from the Cyprus Securities and Exchange Commission). It also received <a href="https://sp-edge.com/updates/13362?industryIds=59">full registration from the UK FCA</a> to offer cryptocurrency trading services in September 2022. Customers can trade over 100 individual cryptocurrencies or buy collections, which are tokens grouped based on the underlying technology and use case for each token. In addition, customers can stake their tokens within the app (limited to UK and EEA customers) and also use the Revolut Card to make payments in cryptocurrency for ecommerce and in-person purchases. Revolut had also planned to launch its own token–RevCoin, as part of its rewards program. However, it temporarily paused the launch of it in January 2023, owing to the downturn in the crypto markets. Additionally, Revolut used to offer crypto investments in the US but suspended it owing to an uncertain and stricter regulatory environment in September 2023.As of May 2024, the company operated in Australia, Brazil, the European Economic Area (EEA), Japan, New Zealand, Singapore, Switzerland, the UK, and the US. The company also had plans to launch its services in India. Additionally, the company offers Revolut Lite in Armenia, Azerbaijan, Bangladesh, Chile, Kazakhstan, Kuwait, Macao SAR, North Macedonia, Oman, Qatar, the Republic of Moldova, Saudi Arabia, Sri Lanka, and Vietnam.In 2023, Revolut recorded revenue of USD 2 billion (GBP 1.57 billion), while its net profit was USD 350 million (GBP 275 million).Key customers and partnershipsAs of December 2023, the company served ~35 million retail customers across 38 countries. The UK remains Revolut’s largest market, with over 6.8 million customers, followed by Romania (2.8 million customers), Poland (2.5 million) and France (2.2 million).The company partnered with payments infrastructure provider Stripe to facilitate payments across Europe and the UK, and with Visa to enable instant card transfers for Revolut Business customers across 78 countries in over 50 currencies using only a card number through Visa Direct. The company also collaborated with Upvest, a FinTech infrastructure provider, to launch a trading platform for its customers in the EEA. Upvest was responsible for the brokerage, settlement, and custody infrastructure, as well as obtaining regulatory permissions through its German licenses. Revolut also offers auto insurance in Ireland in partnership with AIG. In addition, <a href="https://sp-edge.com/updates/32078">Revolut partnered with Paysafe</a> to provide UK customers with cash deposit services, enabling them to deposit cash at over 12,000 locations through the Revolut app.

Revolut

Avant provides personal loans and credit cards to consumers via a web portal. The company focuses on providing loans to underserved segments of the market, which include customers with ‘fair’ or ‘bad’ credit scores who are typically not able to gain access to loans and other forms of credit from traditional financial institutions. Applications for loans are completed online to make the process more accessible and convenient to individuals. The company does not have its own banking license; instead, the company uses its credit products under the license of WebBank. It operates in the US, Canada, and the UK.&nbsp;The company expanded its offering to launch digital banking solutions in December 2021 which include Avant Banking’s offerings include spending accounts (with no minimum balance required), debit cards, and ACH transfers, under the banking license of Evolve Bank &amp; Trust. Avant also allows users with direct deposits to access payday funds up to two days early, along with virtual cards that can be added to Apple Wallet or Google Pay. Avant does not charge fees for account maintenance or foreign transactions.Avant requires a minimum annual income of USD 20,000 to gain approval for a loan. The company’s clientele largely comprises middle-class individuals with annual household incomes in the range of&nbsp; USD 40,000-100,000. Loans approved by the company range between USD 2,000-35,000, with monthly repayment plans of 2-5 years. Given the high-risk nature of the company’s clientele, interest rates charged on loans tend to be on the higher side, with the lowest rate starting at 9.95% APR (Annual Percentage Rate). The company also provides credit cards with credit limits between USD 300 and USD 3,000.The company also uses an in-house formula for calculating credit risk, which the company claims has been more useful than traditional credit scoring methods such as FICO credit scores which are based on a limited number of variables. The company’s formula uses machine learning algorithms and other big data techniques to gather additional data and analyzes about 10,000 variables to determine an individual’s credit score; it also claims that it can predict the likelihood of a customer defaulting on a loan with 57% better accuracy than FICO scores alone.&nbsp;In April 2021, the company acquired Zero Financial, a mobile banking developer, along with its Neobank operations (Level). The acquisition was intended to aid Avant in expanding its product portfolio to provide digital banking solutions to its customers. Key customers and partnerships As of December 2022, the company served over three million customers and had issued more than one million credit cards. Funding and financials Avant secured <a href="https://sp-edge.com/updates/15154">USD 250 million in corporate debt and redeemable preferred equity</a> from Ares Management’s Alternative Credit funds in December 2022. It had planned to use the fresh funds to expand its credit portfolio and platform. The company generated a total revenue of USD 265 million in 2020. As of December 2022, the company was reported to have provided around USD 9 billion worth of loans.

Avant

Chime provides banking services to its customers via a web portal and a mobile app. The company provides no-fee mobile banking solutions, and offers savings accounts, checking accounts, and debit cards (with ATM access) to its customers. The company does not provide loans and does not charge monthly, foreign exchange, or overdraft fees (for transactions up to USD 200), and therefore primarily generates its revenue from interchange and ATM fees. The company claims that accounts can be created in as little as two minutes, and uses video identification to verify an individual’s identity. The company does not impose minimum balance requirements and mainly focuses on serving individuals who earn between USD 30,000-75,000 per year.&nbsp;In June 2020, the company entered the credit card space by launching ‘CreditBuilder’. Despite being introduced as a credit card, the card has similar functionality to a debit card, which allows users to transfer funds from their checking accounts, and spend up to the transferred amount where Visa is accepted, reducing the tendency to overspend. At month’s end, CreditBuilder automatically pays off the credit card balance using the transferred funds and reports the payment to credit bureaus. The CreditBuilder card is primarily targeted at millennials and Gen Z customers, to aid in developing and building up their credit history.&nbsp;In <a href="https://sp-edge.com/updates/30853">June 2024</a>, Chime acquired enterprise employee rewards company Salt Labs for an undisclosed sum. Following the transaction, it planned to launch a new division called “Chime Enterprise,” which will include Salt's products and focus on expansion through employer channels. This move will grant Chime an additional revenue stream and access to Salt’s enterprise clients to promote Chime MyPay, its earned wage access platform.&nbsp;In January 2022, Reuters reported that Chime was to go public led by investment bank Goldman Sachs. Reports say that the company could aim for a valuation of almost USD 40 billion, which could be launched as early as Spring 2022. However, the company paused its IPO aspirations following the downturn in the IPO market.The company claims that revenue and transaction volumes witnessed threefold growth between January and September 2020, owing to the impact of the COVID-19 pandemic. Over the same period, the company also stated that it was able to become profitable on an EBITDA basis.Key customers and partnershipsChime stands as the largest Neobank in the digital banking space in the US, with&nbsp; 12 million customers&nbsp; (reported as of February 2021). The company does not own its own banking license and provides its services under the licenses of Bancorp Bank and Stride Bank.

Chime

London-based Starling Bank offers banking products for both the B2C and B2B segments via a web portal and mobile app, and operates under its own banking license.The bank’s B2C segment offers current accounts, debit cards and personal overdrafts. The current accounts are provided free of charge, and customers also benefit from free ATM withdrawals and transaction fees when abroad. In addition, Starling offers teen bank accounts for 16- and 17-year-olds, and also allows parents to create debit cards for children aged 6–16 that are linked to their individual current account. Customers can also create up to five virtual cards that are linked to “Saving Spaces,” which are separate accounts for specific savings or expenses that are not connected to a customer’s main account. If a Space budget is used up, the virtual card will be declined instead of drawing funds from a customer’s main account.Its B2B segment provides free business accounts primarily targeted at SMEs, which includes features such as fixed savings, overdraft facilities, and business loans. Additionally, Starling offers multi-currency accounts for individuals (euros) for free, while it charges GBP 2 and GBP 5 per month for Euro and US dollar businesses accounts, respectively. It also offers international money transfer services to 35 different countries at a 0.4% transfer fee and a fixed delivery fee of GBP 5.50. Starling Bank also offers Bills Manager features for personal accounts and small business accounts, which allows users with direct debit or standing order options and streamline and record finances that also automatically sync with other accounting tools such as Xero and FreeAgent provided through the Starling Marketplace. It also introduced a subscription-based Business Toolkit feature to support payroll, tax and supplier payments, which cost GBP 7 per month.The company has also developed a Banking-as-a-Service (BaaS) platform called <a href="https://sp-edge.com/updates/20982">Engine</a>. It is an all-in-one platform licensed to other banks to develop their own digital banking services such as checking accounts, savings, loans, and mortgages, rather than building the capabilities from scratch. The company was to use Engine as an alternative to expand internationally rather than launching its own retail bank.In July 2021, Starling Bank acquired buy-to-let mortgage lender Fleet Mortgages in a cash and equity deal of GBP 50 million (~USD 68 million), with plans to leverage its lending operations to enter the mortgage sector, becoming the first entirely digital bank in the UK to do so. The acquisition (its first) is in line with the bank’s strategy to expand its line of credit products through strategic forward-flow arrangements, organic lending, and targeted M&amp;A activity. In November 2021, Starling Bank purchased the mortgage book worth around GBP 1 billion (~USD 1.3 billion) from Kensington Mortgages. This was followed by the purchase of another loan book worth roughly GBP 500 million (~USD 607 million) from the defunct UK-based banked Masthaven in a bid to diversify its portfolio beyond government-backed Covid-19 loans, which accounted for GBP 1.9 billion (92.5%) of its GBP 2.0 billion SME loan book as of March 2022.Key customers and partnershipsAs of June 2024, Starling served over 4.2 million customers.Funding and financialsIn April 2022, Starling Bank raised GBP 130.5 million (USD 164.4 million) in funding from existing investors such as Fidelity Management and Goldman Sachs. The company aimed to use the funds to support growth and explore more acquisition opportunities.In FY2024 (ended 31 March 2024), the company generated total income of GBP 647 million (USD 826.9 million; up 55.9% YoY) and profit after taxation of GBP 220 million (USD 281.1 million; up 54.9% YoY).

Starling Bank

Platforms offering digital checking and savings accounts that target all types of individual consumers

Platforms offering digital checking and savings accounts that target businesses and freelancers

Platforms offering loans and/or other forms of credit to consumers, solely via digital channels

Platforms offering loans and/or other forms of credit to businesses, solely via digital channels

Platforms offering digital checking and savings accounts that target niche consumer segments with specific interests such as kids, teens, and ethnic minority groups

AI/ML is used to process applications, analyze spending habits, and assess creditworthiness

Digital banking (specialized) (B2C) segment caters to underbanked and minority groups

Open banking is an enabler for the neobanking industry

PROMINENT_CATEGORY

<div>
 Neobank Bluevine has partnered with Allpoint to offer its small business customers access to ATM cash deposits at over 1,500 Allpoint+-enabled ATMs. This, combined with a partnership with Green Dot retailers, expands its network to 91,500 ATM and retail locations nationwide. Bluevine's existing partnership with MoneyPass increases this further, granting customers access to a total of 128,500 locations for cash management needs.
</div>

BlueVine

About EDGE

Contact Us

Resources

Area of Focus

Technology Research Made Effortless