Lead Bank, a state-chartered institution that has become a cornerstone for fintech and digital asset companies, has announced the successful close of its $70 million Series B funding round. The round attracted a mix of new and returning investors, including ICONIQ and Greycroft, alongside existing backers such as Ribbit Capital, Coatue, Khosla Ventures, Andreessen Horowitz, and Zeev Ventures. With this latest infusion of capital, Lead Bank’s post-money valuation now stands at an impressive $1.47 billion—more than doubling its valuation from just over a year ago.
This milestone is the latest chapter in Lead Bank’s transformation under the leadership of CEO Jacqueline Reses, who led the acquisition of the bank in 2022 for $56 million. Since then, the institution has evolved from a regional bank into a technology-first platform that serves as the infrastructure layer for many of the world’s most innovative financial services companies.
At the heart of Lead Bank’s success is its banking-as-a-service (BaaS) platform, which has become a trusted foundation for fintechs looking to scale quickly while maintaining compliance and operational integrity. The platform offers programmable banking products that integrate directly into transaction workflows, enabling partners to launch and manage services such as real-time payments, card issuance, lending, and stablecoin-linked accounts with speed and precision.
Lead Bank’s recent partnerships highlight the growing demand for its capabilities. In April, the bank was selected by Stripe and Visa to power their stablecoin-linked payment card platform—a move that positioned Lead at the forefront of digital asset integration in mainstream financial services. Just a few months later, Branch, a workplace payments platform serving companies like Uber and Instacart, named Lead as a strategic banking partner to support its expanding suite of financial tools for gig economy workers.
These collaborations are part of a broader trend in which fintechs are seeking banking partners that can move at their pace, without compromising on regulatory rigor. Lead Bank has distinguished itself by offering both speed and compliance, a combination that has proven difficult to find in traditional banking institutions. Its approach is rooted in deep regulatory expertise and a commitment to building secure, scalable infrastructure that meets the needs of modern financial platforms.
The $70 million raised in this round will be used to strengthen Lead Bank’s balance sheet further, expand its technology stack, and support the onboarding of new clients. The bank plans to continue investing in its API-native platform, enhancing its ability to deliver embedded financial services across a wide range of use cases—from consumer payments and merchant lending to crypto custody and settlement.
Lead Bank’s growth also reflects a broader shift in the financial services landscape, where the lines between banks and technology companies are increasingly blurred. As fintechs continue to push the boundaries of what’s possible, they need partners who understand both the regulatory environment and the pace of innovation. Lead Bank has positioned itself as that partner, offering the necessary infrastructure and insight to bring new financial products to market quickly and responsibly.
KEY QUOTE:
“The fastest growing fintechs want to work with a bank that moves at their speed, without compromising on risk or compliance. We’re grateful to our investors, new and old, for seeing the future as we do – one where we can use technology and creativity to elevate banking standards and drive more innovation in finance.”
Jackie Reses, CEO of Lead Bank
