Increase Debuts Bank to Help FinTechs Build Financial Products

Six years after its founding, banking infrastructure company Increase is now a bank. Increase Bank, announced in a news release Wednesday (July 29), is designed to combine a “modern bank core” with regulated banking services to help companies build financial products with more speed, precision, and control. “Founded in 2020, Increase’s banking infrastructure and APIs enable companies like Gusto, Ramp and Stripe to move, store, and lend hundreds of billions of dollars,” the company said.