Unit is the premier banking-as a service platform that allows companies to embed financial services in their products. Today, it announced a pilot environment that allows companies to set up secure bank accounts and issue virtual card within minutes.
This pilot environment allows companies to quickly create accounts, cards, and payments with real money. Developers and founders can now register for a free account to instantly begin building.
Unit has helped more than 100 companies launch production-ready bank products in just weeks. This is a significant improvement on the time it took to launch these products. Customers have gone from having no code to fully online in just 21 days,” stated CEO Itai damti. We wanted to make it easier for companies to launch secure banking products. Companies can now quickly test their product with real money and create a proof of concept to receive executive or investor investment.
The pilot environment was quickly adopted by early adopters who were able immediately to build and validate their use cases and receive funds.
“With Unit we were able to build our MVP in minutes and use our app with real money in the real world,” stated Kevin Cox co-founder of Savvy. “We were able build a functional, secure product in a live environment and had confidence it would work as we expected.”
Unit’s mission is expand financial access for everyone by creating more tools that empower a new generation. Unit’s unique approach to compliance, bank relationships and technology removes the complexity of building and bringing banking experiences on the market. Further, the pilot environment reduces the complexity of building banking businesses from millions to minutes and years.
Damti said, “We have heard many clients say that creating an application was the most magical moment. They were able to get it approved in three seconds and then create a debit card. Then they could add it to Apple Pay, buy $5 coffee at a nearby coffee shop. Damti said, “Now developers and founders alike can experience the same ‘aha’ moment to test their product in real life.”
Unit has been the leading platform for banking-as a service since its launch in 2020. It has signed over 100 customers and raised $70 million in funding. Unit’s end user base grew by 1000% in the last three months of 2021.