Unit

Unit is a financial technology company that provides financial infrastructure for technology companies. Its platform enables businesses to build financial features into their own products, including services for customers to store, move, spend, and lend money. Unit states that it is not a bank; banking services are provided by its partner banks.

The platform combines account and credit capabilities with payment rails and card issuing. Its building blocks include deposit accounts and wallets, ACH transfers, wires, checks, real-time and international payments, debit and credit cards, and credit accounts. Unit describes its native ledger as the shared record for financial activity, with APIs, a dashboard, and user-interface components available to companies building on the platform.

Unit also offers operational and program-management capabilities that customers can configure or delegate. These include customer onboarding and identity checks, anti-money-laundering monitoring, fraud and dispute handling, reconciliation, reporting, statements, and support. The company presents its infrastructure as a way for technology businesses to develop and operate embedded financial products without assembling every underlying component themselves.

Its customers include software platforms, marketplaces, and other technology companies seeking to add financial products to an existing customer experience. Unit’s website features examples across small-business banking, bill pay, expense management, employee benefits, landlord services, and financial products for consumer brands. Named customer examples on the company site include Highbeam, Benepass, Relay, and RentSpree.

For organizations seeking a more managed offering, Unit describes solutions for embedding banking and bill-pay features, including accounts, cards, payouts, and money movement. The degree of operational support can vary by solution. The company’s product materials emphasize configurable infrastructure, direct bank relationships, and connectivity to payment systems; specific banking products are delivered by Unit’s partner banks.

Unit’s website identifies Itai Damti as co-founder and CEO and presents the company’s work as building the next generation of financial services. Its careers page invites people to join the effort, but the reviewed company materials provide limited detail about internal culture or working practices. The company says its platform is used by technology businesses to build financial products for their own customers.

Unit was founded in 2019 and is headquartered in New York, New York, according to its LinkedIn company profile. Unit’s official site identifies the business as Unit Finance Inc. and provides information about its platform, managed solutions, customers, and career opportunities. Unit is a financial technology provider, not a bank, and its banking services are provided by partner banks.