Unit Finance, an Israeli fintech startup that helps tech companies build financial features into their products, is Israel Startup Nation’s latest unicorn. The company acquired that coveted status when it hit a $1.2 billion valuation with a $100 million Series C Raise led by Jeff Horing of Insight Partners.
There are so many Israeli unicorns now – a startup with a $1 billion plus valuation – that this status is no longer really that prestigious any more. How could it be? Maybe they need to up a unicorn’s valuation to $10 billion plus. Just the other day, for example, Israeli startup Optibus, a developer of an end-to-end software platform for public transportation planning and operations, also became a unicorn when the company hit a $1.3 billion valuation after a $100 million Series D raise.
Founded in 2019, Unit Finance helps tech companies build financial features into their products: accounts, cards, payments and lending. Unit’s Dashboard and suite of APIs, SDKs, and white-labeled UIs enables developers to build financial features into their product — cards, accounts, payments and lending.
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Unit Finance has grown to serve more than 140 customers, from public companies to early-stage startups. The list includes AngelList, Invoice2Go, Homebase, HoneyBook, Roofstock, and many more. The company boasts that its customers are able to take advantage of a modern tech stack built on a native ledger, embedded compliance, and built-in bank relationships—to launch in weeks. Unit also says that in the last six months the deposits held at its bank partners grew by 1000% and passed the $100 million mark.
“We’re proud of our customers for making financial services more friendly, inclusive, and equitable,” said Itai Damti. “Recent examples include Veryable, which helps contract laborers get paid faster, and Forage, which helps more businesses accept online EBT (food stamps) payments, and serve millions of families better. We truly believe in the power of innovation to do good. Our work is just starting.”