<p>Tech companies—including AngelList and Bill.com—use its technology to offer their own customers banking products like checking accounts, credit cards, loans or payment services. Launched in December 2020, Unit lacks a banking license, so it partners with banks to help companies lend, store and move money.</p>
<p>Funding: $170 million from Insight Partners, Accel, Aleph and others.</p>
<p>Latest valuation: $1.2 billion.</p>
<p>Date of last valuation: May 2022.</p>
<p>Bona fides: In 2023, Unit surpassed $22 billion in transaction volume, up from $4 billion in 2022.</p>
<p>Cofounders: CEO Itai Damti, 38, and CTO Doron Somech, 38, serial entrepreneurs who met as software engineers for the Israeli military and then cofounded Leverate, a tech firm that makes software for financial services brokers.</p>
<p>Headquarters: New York, New York.</p>
HQ: New York, New York, United States