Unit - About the company
Unit is a series C company based in Tel Aviv (Israel), founded in 2019 by Doron Somech and Itai Damti. It operates as an Open banking API solution. Unit has raised $170M in funding from investors like Accel, Aleph Capital Partners and TLV Partners, with a current valuation of $1.2B. The company has 630 active competitors, including 153 funded and 62 that have exited. Its top competitors include companies like Razorpay, TrueLayer and Moniepoint.
Sectors and market segments that Unit operate in
Unit serves in the FinTech market segments.The primary business model of Unit is:Company Details
Open banking API solution. It enables banks and financial institutions to provides banking services to the end customers. It facilitates API-based multiple white-labeled services including savings and checking accounts, debit cards, online payments, cash advance loans, and more.
- Website
- www.unit.co/
- Social
- Registered Address
- Rīga, Krūzes iela 3
Key Metrics
Founded Year
2019
Location
Tel Aviv, Israel
Stage
Series C
Total Funding
$170M in 4 rounds
Latest Funding Round
Post Money Valuation
$1.2B as on May 17, 2022
Ranked
69th among 630 active competitors
Employee Count
274 as on Aug 31, 2026
Legal entities associated with Unit
Unit is associated with 1 legal entity given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
Unit CIN: 40103185214 , Latvia, Active | Aug 11, 2008 | €0 - €1M (As on Dec 31, 2024) | 3 (As on Dec 31, 2023) | - |
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Unit's funding and investors
Unit has raised a total funding of $170M over 4 rounds. Its first funding round was on Dec 2020. Its latest funding round was a Series C round on May 17, 2022 for $100M. 6 investors participated in its latest round. Unit has 21 institutional investors and 1 angel investor.
Here is the list of recent funding rounds of Unit:
Filter this list
Filter this listDate of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
May 17, 2022 | $100M | Series C | $1.2B | 10254.2x | ||
Jun 17, 2021 | $51M | Series B | $1.2B | 8791.9x | ||
Dec 08, 2020 | $15M | Series A | - | - |
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Unit's founders and board of directors
Founder? Claim ProfileHere are the details of Unit's key team members:
- Doron Somech: Co-Founder & CTO of Unit. They are also an angel investor in 1 startup.
- Itai Damti: Co-Founder & CEO of Unit. They are also an angel investor in 3 startups.
View details of Unit's Founder profiles and Board Members
Unit's employee count trend
Unit has 274 employees as of Aug 26. Here is Unit's employee count trend over the years:
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Unit's Competitors and alternates
Top competitors of Unit include Razorpay, TrueLayer and Moniepoint. Here is the list of Top 10 competitors of Unit, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Provider of payment and business banking solutions for enterprises | $742M | 85/100 | ||
2nd | TrueLayer 2016, London (United Kingdom), Series E | Open banking platform enabling secure bank-to-bank payments and payouts | $322M | 78/100 | |
3rd |  Moniepoint 2019, London (United Kingdom), Series C | Provider of integrated financial services for businesses and individuals | $266M | 74/100 | |
4th | M2P Fintech 2014, Chennai (India), Series D | Provider of APIs enabling banking, lending, and payment financial services | $188M | 74/100 | |
5th |  Cross River Bank 2008, Fort Lee (United States), Series D | Platform offering API-driven financial infrastructure | $898M | 72/100 | |
6th | Galileo 2000, Sandy (United States), Acquired | Provider of cloud-based platform for financial technology and digital banking | $85M | 72/100 | |
7th | Provider of banking-as-a-service platform offering digital banking and payment solutions | $736M | 72/100 | ||
8th |  Trustly 2008, San Carlos (United States), Acquired | Open banking-enabled payment processing solution for businesses | $28.7M | 71/100 | |
9th | Platform offering open banking API | $158M | 70/100 | ||
10th | Yapily 2017, London (United Kingdom), Series B | Provider of open banking platform facilitating payments and financial data access | $70.8M | 69/100 | |
69th | Open banking API solution | $170M | 52/100 |
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Unit's Investments and acquisitions
Unit has made no investments or acquisitions yet.
Reports related to Unit
Here is the latest report on Unit's sector:
News related to Unit
Filter this listMedia has covered Unit for 1 event in last 1 year.
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Pacific West Bank and Unit Announce Strategic PartnershipGlobal Fintech Series•Apr 06, 2023•Pacific West Bank, Unit
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Unit’s banking-as-a-service platform is getting into the charge card gameTechCrunch+•Nov 16, 2022•Unit
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Thread Bank, Unit Collaborate to Expand Banking-as-a-ServicePYMNTS.com•Aug 11, 2022•Thread Bank, Unit
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Banking-as-a-service startup Unit closes on $100M at a $1.2B valuationTechCrunch+•May 17, 2022•Unit, Insight Partners, Accel, Better Tomorrow Ventures and 5 others
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South African startup up Stitch bags $21m from PayPal and TrueLayer in funding roundAltFi•Feb 14, 2022•Stitch, PayPal, TrueLayer, PayPal and 12 others
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