As of August 2026, Latka tracks 127 banking as a service (BaaS) software companies. They have combined revenues of $2.9B and employ 19.7K people. They have raised $3.5B and serve 15.3M customers combined.
Every company below sells banking as a service (BaaS) software to other businesses and is ranked by its most recent annual revenue. Revenue, funding, headcount and customer figures come from CEO interviews on the Latka podcast, public company filings, and Latka estimates where a company has not disclosed a number.
Banking as a Service (BaaS) software enables non-financial businesses to integrate banking services into their products without the need to obtain a banking license. This model allows organizations to offer digital financial services such as payment processing, account management, and lending, leveraging the technology and compliance capabilities of licensed banks. BaaS platforms typically include APIs that facilitate interactions with banking functionalities, making it easier for companies to embed financial products directly into their customer-facing applications. The key use cases for BaaS include enhancing user engagement through integrated financial services, launching new financial products, and streamlining customer onboarding processes. Buyers of this software mainly include fintech companies, e-commerce platforms, and other organizations looking to diversify their service offerings with banking capabilities. These businesses often seek solutions that can improve customer experience and foster innovation in financial service delivery. BaaS providers often focus on specific features such as compliance management, security protocols, and customer data integration. Typically, they are tasked with enabling their clients not just to offer financial services but also to ensure that these services meet regulatory standards. As a result, BaaS software serves as a vital bridge between traditional banking infrastructure and modern digital platforms.
Sorting: Highest -> Lowest
Showing 10 of 127 companies ranked by annual revenue.
Lagos, Nigeria
Moniepoint (formerly TeamApt) is a Nigerian fintech company based in Lagos that provides banking services and loans via an online banking app. It is Africa's all-in-one financial ecosystem, helping 10 million businesses and individuals access seamless payments, banking, credit, and business management.
Bengaluru, Karnataka, India
Razorpay is a leading Indian fintech company, founded in 2014 by Harshil Mathur and Shashank Kumar, offering a full-stack payments and business banking platform. Originally launched as a startup-focused payment gateway, it has since expanded to include subscriptions, vendor payouts, neobanking, and lending.
Mexico City, Mexico
Clip is primarily focused on financial software. It has established itself as a significant player in the financial technology sector.
Bengaluru, India
OPEN offers a powerful suite of financial solutions to help businesses manage payments seamlessly with connected banking. We also provide additional tools for tax and compliance, cash flow insights, custom workflows on ERPs, access to capital, payroll management, and accounting. Since 2017, OPEN has been revolutionizing the way businesses handle their financial operations. Over 4 million businesses and finance teams trust OPEN to automate their finances. We are growing at an incredible pace and are on the lookout for new and exciting talent to join the OPEN tribe.
London, England, United Kingdom
Developer of a cloud-based core banking platform intended to bring machine learning and big data together to develop a next-generation operating system for banks. The company's cloud-based technology platform provides Vault OS that run in the cloud providing a secure, fast, reliable end to end banking systems, capable of managing users, accounts, savings, loans, mortgages, sophisticated financial products and can configure any type of loan or deposit account, thereby providing banking institutions with a software as a service platform to scale from one customer to tens of millions without having to incur any hard costs.
San Ramon, California, United States
Lumin Digital provides cloud-native digital banking solutions, helping financial institutions enhance user experience and engagement.
Abu Dhabi, Abu Dhabi, United Arab Emirates
NymCard is a full-stack, API-first embedded finance platform that provides payment infrastructure for banks, fintechs, enterprises, and telecom providers. Founded in 2018, it modernizes payments in the MENA region and empowers banks and businesses with advanced programmable controls.
United States
FOO is an award-winning, B2B SAAS solution provider, headquartered in the UAE, that specialises in empowering businesses through digital transformation. FOO provides innovative Fintech solutions, built entirely in-house, that optimise digital capabilities for clients across diverse industries and enable them to deliver an unparalleled user experience. FOO works with banks, fintech companies and key retailers across the MENA region, Africa, Europe and USA, including Mastercard, Visa, Benefits, Zain Group, PwC and MAF. FOO’s innovative platform is modular, built on digital micro-services that can be assembled to meet the specific requirements of each client. This approach, coupled with extensive regional experience, enables FOO to create super personalized digital products with a fast time to market. FOO’s key products include solutions for remittances, digital wallets, tokenized transactions, fully automated micro-lending and BNPL.
Latka tracks 127 banking as a service (BaaS) software companies with reported revenue. Together they generate $2.9B in annual revenue and employ 19.7K people.
Moniepoint is the largest, with $600M in annual revenue, founded in 2015.
The average banking as a service (BaaS) software company in this list makes $22.6M a year, across 127 companies with reported revenue. They serve 15.3M customers combined.
Ranked by annual revenue, the leaders are Moniepoint, Razorpay, Mambu, Clip and FAZZ.
The 127 banking as a service (BaaS) software companies tracked here have raised $3.5B in disclosed funding between them.
- Must offer API-based access to banking functionalities - Should enable non-banking firms to provide financial services - Must include compliance and regulatory support as part of the offering - Should provide tools for customer onboarding and identity verification - Must facilitate integration with other software platforms or services - Not limited to just payment processing; must support a range of banking services such as accounts and loans
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