Anchor
Banking-as-a-Service and embedded finance engine for African businesses and fintechs
What it does
Anchor was founded in 2022 by Segun Adeyemi, Olamide Sobowale, and Gbekeloluwa Olufotebi to simplify how non-tech businesses embed financial services into their products. The platform provides developer APIs to issue bank accounts, process payments, launch card programs, and issue loans. Backed by Y Combinator, Anchor serves as a foundational BaaS provider for African businesses.
Card issuing & managementBulk / mass payoutsReconciliation & ledger infrastructure
Known for
- Y Combinator-backed BaaS platform
- Embedded financial APIs for companies
- Virtual bank account issuance engines
- Card issuing and programmatic credit tools
Model & industry
Banking-as-a-ServiceAPI-as-a-ProductBanking & Financial Services
Funding history
$3.4M
Total raised
2
Rounds
Seed
Latest stage
2023
Latest year
| Date | Stage | Amount | Lead investor |
|---|---|---|---|
| 2023-09 | Seed | $2.4M | Goat Capital |
| 2022-08 | Pre-seed | $1.0M | Byld Ventures |
Source: Condia Funding Tracker
Products & subsidiaries
Anchor Deposit Accounts API · Virtual Account BaaSAnchor Card Issuing API · Card Infrastructure