
Total amount raised
$169.6 Millions
Latest funding date

Location
Unit has successfully raised significant capital through multiple funding rounds, with notable investors such as Aleph and Karman Ventures backing the company. The platform offers embedded finance solutions, enabling businesses to integrate banking, capital, accounts, and other financial services seamlessly.
Keep reading to explore the intricacies of Unit's fundraising journey and the investors supporting this innovative platform.
What Is Unit?
Unit, founded in 2019 by Doron Somech and Itai Damti, is a leading financial technology company based in New York, New York. The company specializes in providing embedded finance solutions, enabling tech companies to integrate banking, capital, and other financial services into their products.
With a team of 101-250 employees, Unit offers a platform that includes APIs, white-label UIs, and dashboards to facilitate seamless financial integrations. Their solutions help businesses launch embedded finance in just three weeks, enhancing revenue and customer satisfaction.
Unit's innovative approach has positioned it as a market leader, helping companies embed financial services such as banking, capital, card issuing, and money movement into their offerings.
How Much Funding Has Unit Raised?
- Seed Round
- Amount Raised: $3.6M
- Date: November 2019
- Lead Investors: Better Tomorrow Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial product offerings.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: September 2020
- Lead Investors: Aleph
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the team.
- Series A
- Amount Raised: $15M
- Date: December 2020
- Lead Investors: Aleph
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
- Series B
- Amount Raised: $51M
- Date: June 2021
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve platform capabilities.
- Series C
- Amount Raised: $100M
- Date: May 2022
- Lead Investors: Insight Partners
- Valuation at Round: $1.2B
- Motivation Behind the Round: To accelerate product development, expand into credit markets, and grow the team.
Total Amount Raised: $169.6M. Current Valuation: $1.2B.
Key Investors
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm that invests in high-growth technology and software companies. Founded in 1995, the firm has a strong track record of supporting innovative businesses.
- Investment Focus Areas: Technology, software, growth-stage companies.
- Notable Investments: Twitter, Shopify, Qualtrics.
- Accel
- Details: Accel is a venture capital firm that invests in early and growth-stage technology companies. Established in 1983, Accel has been a key player in the venture capital industry.
- Investment Focus Areas: Technology, early-stage companies, growth-stage companies.
- Notable Investments: Facebook, Slack, Dropbox.
- Better Tomorrow Ventures
- Details: Better Tomorrow Ventures is a venture capital firm focused on early-stage fintech companies. The firm aims to support startups that are transforming financial services.
- Investment Focus Areas: Fintech, early-stage companies.
- Notable Investments: Mercury, Vouch, Chipper Cash.
- Flourish Ventures
- Details: Flourish Ventures is a global venture capital firm investing in entrepreneurs whose innovations advance financial health and prosperity. The firm is committed to supporting financial inclusion.
- Investment Focus Areas: Financial services, financial health, fintech.
- Notable Investments: Aspiration, Chime, Propel.
- Stepstone
- Details: Stepstone is a global private markets investment firm that provides customized investment solutions. The firm focuses on venture capital and growth equity.
- Investment Focus Areas: Private markets, venture capital, growth equity.
- Notable Investments: Not publicly disclosed.
What's Next for Unit?
Unit's future is brimming with opportunities, particularly in the credit market. With plans to launch business credit cards and other credit products, the company is poised to tap into a significant growth area in financial services. The recent $100 million Series C funding will accelerate product development and double the company's headcount, positioning Unit to meet the increasing demand for embedded financial services.
As Unit continues to grow, future fundraising opportunities seem promising. The company's rapid expansion and innovative approach make it an attractive prospect for investors. However, challenges such as maintaining regulatory compliance, managing rapid growth, and navigating competition in the BaaS sector could pose hurdles. Despite these challenges, Unit's strategic focus on enhancing technology and expanding product offerings sets a strong foundation for continued success.
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