As of September 2026, Latka tracks 5 banking as a service (BaaS) software companies with $100M+ in annual revenue. They have combined revenues of $1.6B and employ 8.7K people. They have raised $1.8B and serve 456K 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 5 of 5 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.
Latka tracks 5 banking as a service (BaaS) software companies with $100M+ in annual revenue. Together they generate $1.6B in annual revenue and employ 8.7K 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 $311.5M a year, across 5 companies with reported revenue. They serve 456K customers combined.
Ranked by annual revenue, the leaders are Moniepoint, Razorpay, Mambu, Clip and FAZZ.
The 5 banking as a service (BaaS) software companies with $100M+ in annual revenue tracked here have raised $1.8B 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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