<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>
Public company, workplace, funding, and market signals
Updated Aug 16, 2026
Unit is a financial infrastructure and banking-as-a-service company that enables software companies, fintechs, banks, and brands to embed accounts, cards, payments, bill pay, wallets, and lending into their products. Unit provides APIs, SDKs, a native ledger, bank-partner connectivity, compliance tooling, and managed or white-label implementation options.
Primary product
Embedded finance infrastructure for banking, cards, payments, bill pay, wallets, and lending.
Founded
2019
Headquarters
New York City, New York, United States
Team size
51-200
Work style
Flexible
Industry
Financial services
Sub-industry
Fintech infrastructure / banking-as-a-service / embedded finance
Offices
Business model
Leadership
Co-founder and CEO
Doron Somech
Co-founder and CTO
Elroie Roash
CTO
Ehud Fisher
Chief Product Officer
Vignesh Nathan
Chief Financial Officer
Alex Acree
Chief Legal Officer
Paula Harris
Head of Compliance
Kieran Pasco
VP, New Products and Partnerships
Morgan Goldstein
Head of Customer Success
Gabriela Peled
VP People
Unit presents itself as a mission-driven, globally distributed fintech infrastructure company focused on building reliable financial products in a highly regulated environment. Its careers materials emphasize impact, autonomy, flexible work, and collaboration between remote employees and offices in New York and Tel Aviv.
Work style
Flexible
Compensation
Unit publicly signals competitive base pay plus startup equity and a 401(k). Public third-party estimates suggest senior engineering compensation may be approximately $200,000-$350,000, but Unit does not publish a comprehensive compensation framework or verified role-specific salary bands.
Benefits
Pricing
Primarily sales-led, custom enterprise contracts. Public pricing signals include a free sandbox and negotiated production platform fees, per-transaction fees, card fees, ACH/wire fees, and possible interest or revenue sharing.
Differentiators
Technology
Customers
Competitors
Estimated revenue
$10M-$20M annually
Estimated monthly visits
61.1K
Traffic estimate as of Jun 2026
Unit announced that it had reduced its workforce by approximately 15%, citing slower-than-expected revenue growth, increased regulatory scrutiny affecting banks and fintech partnerships, and a goal of becoming profitable without raising additional capital.
SourceManagement said it was prioritizing efficiency and profitability and that bank activity in the fintech ecosystem had slowed because of heightened regulatory scrutiny. This creates execution, partner-bank, and regulatory timing risk for a banking-as-a-service provider.
SourceUnit · Jul 2025
Unit introduced managed solutions designed to let software companies launch embedded capital, banking, and bill pay with minimal engineering effort, marketed as a three-week, one-line-of-code deployment.
TechCrunch · Jun 2024
Unit disclosed a workforce reduction of approximately 15%, attributing the decision to slower-than-expected revenue growth and increased regulatory scrutiny affecting fintech-bank partnerships.
TechCrunch · May 2022
Unit raised a $100 million Series C led by Insight Partners, with participation from Accel, Better Tomorrow Ventures, and Flourish Ventures, bringing reported cumulative equity funding to nearly $170 million.
Unit
Unit announced a strategic partnership intended to help Lincoln Savings Bank expand its embedded-finance offerings using Unit's infrastructure, compliance tooling, and partner ecosystem.
Unit
Unit announced that Saumil Mehta, a former Square chief product officer and current Ticketmaster president, joined its board to help customers improve adoption and retention of embedded financial products.
3 jobs at Unit