Insight Partners leads $100M funding round in fintech startup Unit
A banking-as-a-service startup, Unit, has secured $100 million in a funding round. Insight Partners led the round, which had participation from prior backers Accel, Better Tomorrow Ventures, and Flourish Ventures. Insight Partners led a $100 million Series C round of funding for Unit, a banking-as-a-service firm. Accel, Better Tomorrow Ventures, and Flourish Ventures were among the investors in the round, which valued the company at $1.2 billion. The funding follows a $51 million Series B round announced in June, bringing the company's total equity raised to roughly $170 million since its start. Unit was founded by Itai Damti and Doron Somech in late 2019 and has dual headquarters in Tel Aviv and New York City. The two spent the first year quietly developing the technology with the goal of allowing businesses to integrate financial services into their products, reducing time to market. Across other words, organizations leveraging Unit's technology in a number...