Unit was founded in 2019 by Doron Somech and Itai Damti. The company has not officially endorsed a plan to participate in an IPO. These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Unit offers banking-as-a-service, allowing startups to build financial products directly into their software, a quicker and more flexible solution than traditional methods allow. The company saw strong growth in the first half of 2022, with an annualized transaction volume of more than $2.5 billion and a 10x increase in deposit volumes. A $100 million Series C round increased Unit's total venture capital funding to $170 million. Investors include Insight Partners, Accel, Better Tomorrow Ventures, and Flourish Ventures. The round also increased the company's valuation to $1.2 billion.
Funding Date | Share Class | Amount Raised | Price per Share | Post-Money Valuation | Key Investors | |
---|---|---|---|---|---|---|
05/18/2022 | Series C | $99.27MM | $xx.xx | $1.19B | Insight Partners, Accel, Better Tomorrow Ventures, Flourish Ventures, Moving Capital, Stepstone | |
Price per Share
$xx.xx
Shares Outstanding
2,703,598
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Insight Partners, Accel, Better Tomorrow Ventures, Flourish Ventures, Moving Capital, Stepstone
|
||||||
06/17/2021 | Series B | $55.82MM | $xx.xx | $250.83MM | Accel, Tomorrow Ventures, Aleph, Flourish Ventures, TLV Partners | |
Price per Share
$xx.xx
Shares Outstanding
6,532,658
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Accel, Tomorrow Ventures, Aleph, Flourish Ventures, TLV Partners
|
||||||
12/08/2020 | Series Seed | $3.62MM | $xx.xx | $61.61MM | Better Tomorrow Ventures, Aleph, Flourish Ventures, Operator Partners, TLV Partners | |
Price per Share
$xx.xx
Shares Outstanding
4,754,087
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Better Tomorrow Ventures, Aleph, Flourish Ventures, Operator Partners, TLV Partners
|
||||||
12/08/2020 | Series A | $15MM | $xx.xx | $61.61MM | Better Tomorrow Ventures, Aleph, Flourish Ventures, Operator Partners, TLV Partners | |
Price per Share
$xx.xx
Shares Outstanding
5,603,272
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Better Tomorrow Ventures, Aleph, Flourish Ventures, Operator Partners, TLV Partners
|