Thread Bank secures $30.5m funding to support embedded banking strategy

Thread Bancorp, the genitor institution of Thread Bank, has secured $30.5m successful its latest backing round, comprising $27.6m successful archetypal rise and $2.9m successful extension.

This backing circular was led by Portage Ventures, with further information from Rockmont Partners and different strategical investors.

Thread Bank is an FDIC-insured instauration providing embedded and integer banking services successful the US, arsenic good arsenic assemblage banking successful Eastern Tennessee.

The slope intends to usage the backing to enactment the ongoing improvement of its embedded banking strategy.

With this latest funding, its Tier 1 superior raised to day reaches $100m.

Thread president and committee of directors subordinate CEO Chris Black said: “From the outset, our ngo astatine Thread has been to usage exertion to conscionable customers wherever they unrecorded their fiscal lives and behaviour their fiscal business, challenging accepted methods and paradigms for delivering banking products and services.

“This backing round, backed by seasoned fiscal exertion and banking investors, serves arsenic a resounding ballot of assurance successful our team, embedded approach, and customer-first imaginativeness for the aboriginal of banking.”

Thread Bank offers integer banking services done partnerships with tiny concern and user brands, arsenic good arsenic vertical SaaS companies.

Through the embedded banking strategy, Thread aims to supply ‘digital branches’ embedded wrong spouse platforms.

According to the company, the strategy has resulted successful important maturation since its founding successful 2021, shifting from a accepted assemblage slope to a supplier of embedded banking solutions for its lawsuit base.

This backing follows a play of accelerated maturation for Thread Bank, which present manages implicit $2bn successful spouse deposits.

The slope has accrued embedded deposits by threefold betwixt January 2024 and October 2025, with an annualised maturation complaint of astir 75%.

Over the past year, Thread entered respective caller partnerships, including with Finxact arsenic its halfway banking level and with LoanPro for boosting its lending operations.

Also, the institution opened a caller firm office successful Nashville, Tennessee.

"Thread Bank secures $30.5m backing to enactment embedded banking strategy " was primitively created and published by Retail Banker International, a GlobalData owned brand.

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