Lead Bank has achieved a valuation of $1.47 billion after securing $70 million to support fintech and crypto companies.
New investors Iconiq and Greycroft joined existing backers Ribbit Capital, Coatue, Khosla Ventures, Andreessen Horowitz, and Zeev Ventures in this funding round.
Founded in 1926, Lead Bank, based in Kansas City, Missouri, was acquired in 2022 for $56 million by a team of tech executives and revamped to cater to fintech and crypto firms. The bank is developing a banking-as-a-service platform that offers programmable products for seamless integration into transaction workflows, enabling fintechs, consumer companies, and digital asset businesses to scale while ensuring compliance.
Recently, Lead Bank partnered with Stripe and Visa to support their stablecoin-linked payment card platform. In July, workplace payments platform Branch named Lead as a strategic banking partner.
Jackie Reses, CEO of Lead Bank, stated, “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 envisioning the future alongside us—one where technology and creativity elevate banking standards and drive more innovation in finance.”