Investment Bank Secures Series B Financing Round Completion

Lead Bank, a banking-as-a-service platform catering to top fintechs and digital asset companies, has announced the completion of a $70 million Series B fundraising round. This investment round was joined by new investors ICONIQ and Greycroft, as well as existing investors Ribbit Capital, Coatue, Khosla Ventures, Andreesen Horowitz, and Zeev Ventures.

The investment brings Lead Bank's post-money valuation to $1.47 billion. The funds raised will be used to further scale Lead Bank's financial services and solidify its position as a leading player in the banking-as-a-service sector.

In April, Lead Bank partnered with Stripe and Visa to power their stablecoin-linked payment card platform. This partnership has been instrumental in attracting a number of leading fintechs to Lead Bank's platform. However, there is no publicly available information about other leading companies currently working with Lead Bank to scale their financial services.

Jackie Reses, CEO of Lead Bank, led the acquisition of the bank in 2022 for $56 million. Reses stated that Lead Bank moves at the speed of the fastest growing fintechs without compromising on risk or compliance. She emphasised the bank's commitment to using technology and creativity to elevate banking standards and drive more innovation in finance.

The investors are supportive of Lead Bank's vision. They believe that the bank's approach to banking can revolutionise the industry and set new standards for innovation and efficiency. With the new investment, Lead Bank is poised to make a significant impact in the world of finance.

In July, Lead Bank announced Branch as a strategic banking partner. The partnership will enable Lead Bank to offer its services to a wider range of clients and further expand its reach in the fintech and digital asset sectors. The exact details of this partnership are yet to be disclosed.

As Lead Bank continues to grow and evolve, it remains committed to its mission of providing innovative and efficient banking solutions to the fintech and digital asset industries. With the support of its investors, Lead Bank is well-positioned to lead the charge in the banking-as-a-service sector.