Bond

Bond is a banking-as-a-service (BaaS) platform that enables companies to embed financial products into their offerings. Founded in 2019 by Roy Ng and Yan Wu, Bond provides APIs and program management tools that allow software and fintech businesses to integrate financial services such as credit cards, debit cards, and bank accounts. The company's platform supports both consumer and commercial products, including secured credit cards, commercial charge cards, and virtual cards. Bond's technology aims to simplify the process of launching financial products by pre-integrating with partner banks and vendors, reducing the time and complexity traditionally associated with such initiatives.

Bond's flagship offerings include the Credit Builder Card, a secured credit card designed to help consumers build or improve their credit scores. Launched in August 2022, this Mastercard-branded product is issued through Bond's partner bank, Evolve Bank & Trust. The company also provides a commercial charge card solution that enables B2B SaaS companies to optimize payment flows for employees and vendors. Bond's platform is designed to be bank-agnostic, allowing it to match clients with appropriate banking partners for specific product needs.

In June 2023, Bond was acquired by FIS, a major fintech company specializing in payment, banking, and investment services. Prior to the acquisition, Bond had raised USD 42 million in funding from investors including Coatue Management, Canaan Partners, Goldman Sachs, and Mastercard.

Key customers and partnerships

Bond has established partnerships with several companies in the financial services ecosystem. The company collaborates with Mastercard for its Credit Builder Card program, leveraging Mastercard's network and security features such as ID Theft Protection and Zero Liability Protection. Bond also partners with Evolve Bank & Trust, which serves as the issuing bank for its credit products.

In October 2022, Bond announced a partnership with i2c, a digital payment and banking technology provider, to enhance its credit card-as-a-service offerings. This collaboration enables Bond to leverage i2c's SaaS platform and payment processing capabilities to support its credit solutions.

Bond's client base includes fintechs and software companies seeking to embed financial services into their products. The company mentions working with digital brands such as Pocketbook and Everest. Additionally, Bond has collaborated with Flow, a property technology platform founded by WeWork's Adam Neumann, to enable financial services for Flow's residents.