Embed announces launch of first client Xiggit
Embed is proud to start the new year with the successful launch of our first client, Xiggit. Xiggit is an innovative startup empowering employers to offer affordable, administration-free benefits to all of their employees and contractors. Xiggit began live activities with Embed near the end of Q4.
Embed powers Xiggit through our cloud-native, API-based, event-driven clearing & custody platform, which we built in-house — from scratch. We also provide the financial services having obtained all of the necessary memberships with FINRA, DTC, NSCC and Nasdaq to offer a full-stack, vertically-integrated solution to Xiggit.
Xiggit chose Embed over a legacy vendor
Xiggit and Embed have much in common, including our shared goals of challenging the status-quo and making investing more easily accessible to everyone.
Xiggit specifically chose Embed over our legacy competition, preferring to “skate where the puck is going” and building on top of the most modern, forward-thinking platform.
“Since Embed’s modern API stack allowed us to avoid legacy API infrastructure and archaic connectivity requirements, we’ve been able to maintain our 100% serverless code-base, allowing us to scale infinitely to delivery low cost benefits that open up new markets” said Carmela Abraham, co-founder of Xiggit.
With Embed, Xiggit was able to integrate our APIs for creating customer IRA brokerage accounts, enable customers to fund their contributions via payroll deduction or from their bank account, and invest the contributions into fractional shares of ETFs.
In addition, Xiggit has access to the Embed Portal which allows the team to manage their customer IRAs and monitor their funding and trading activities, among other features.
Thank you Xiggit
Xiggit has been a wonderful first client. It takes a lot of guts to bet your future on another startup, especially one that has taken on the challenge of rebuilding the plumbing for financial markets from scratch.
It took us 18 months to obtain all the memberships and build the platform, but now Embed has a unique piece of technology that no one else in the industry can offer today.
We could not be more grateful to Xiggit for being an early adopter of Embed.
Here’s to an exciting 2022!
With many amazing companies in our pipeline, both big and small, 2022 is going to be an exciting and eventful year at Embed. Stay tuned as we share more updates over the coming months — and yes, we’re hiring!
Founder & CEO