Global: Lead Bank Raises $70m to Expand Banking-as-a-Service for Fintechs

Lead Bank, a Kansas City-based community bank retooled to serve fintechs and crypto firms, has secured $70 million in fresh funding to scale its banking-as-a-service (BaaS) platform.

The round saw participation from new investors Iconiq and Greycroft, alongside existing backers Ribbit Capital, Coatue, Khosla Ventures, Andreessen Horowitz, and Zeev Ventures.

Founded nearly a century ago, Lead Bank underwent a major transformation in 2022 when a team of technology executives acquired it for $56 million. Since then, the bank has pivoted towards providing programmable financial products that integrate directly into fintech and digital asset transaction workflows — enabling startups and scale-ups to grow while remaining compliant.

Lead Bank has recently struck key partnerships to cement its position in the ecosystem. It teamed up with Stripe and Visato power a stablecoin-linked payment card platform and was chosen in July as a strategic banking partner by workplace payments platform Branch.

Highlighting the bank’s vision, CEO Jackie Reses said: “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 seeing the future as we do — one where technology and creativity can elevate banking standards and drive innovation in finance.”

The new funding is expected to accelerate product development and deepen partnerships as Lead Bank positions itself as a critical infrastructure player for the next wave of fintech and digital finance innovation.