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Quick take:
The Series B round was completed at a post-money valuation of $1.47 billion, according to a blog post on the Bank’s website.
Jackie Reses, CEO of Lead Bank, led the current management team’s acquisition of the bank in 2022 for $56 million.
The Kansas City, Missouri-based community bank offers a banking-as-a-service platform focused on the fintech and digital asset sectors.
Lead Bank has raised $70 million in a Series B round backed by new investors ICONIQ and Greycroft, alongside existing investors Andreessen Horowitz (A16z), Ribbit Capital, Coatue, Khosla Ventures, and Zeev Ventures.
The fundraising was completed at a post-money valuation of $1.47 billion, according to a blog post on the bank’s website.
Lead Bank offers a Banking-as-a-Service (BaaS) platform that counts “some of the leading fintech and digital asset companies” among its customers. The Kansas City, Missouri-based community bank in April sealed partnerships with leading payment companies Stripe and Visa to power their stablecoin payments initiatives.
Commenting on the Bank’s latest fundraising, Jackie Reses, CEO of Lead Bank, said in a statement: “The fastest growing fintechs want to work with a bank that moves at their speed, without compromising on risk or compliance. We’re grateful to our investors, new and old, for seeing the future as we do – one where we can use technology and creativity to elevate banking standards and drive more innovation in finance.” Reses led the current management team’s acquisition of the bank in 2022 for $56 million.
In July, Lead also became a strategic banking partner of Branch, the workplace payments platform whose customers include Uber and Instacart.
This announcement follows significant progress made in developing a clearer regulatory framework for digital assets in the U.S. In July, the GENIUS Act, which offers clarity for regulating stablecoins and other cryptocurrencies linked to real-world assets, was signed into law.
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