On behalf of Embedded Financial Technologies Inc. I am pleased to announce we have raised $20m in seed funding and our wholly-owned subsidiary, Embedded Clearing LLC, has received FINRA approval to act as a correspondent clearing and custody broker-dealer for US listed equities and options. You can read more about us in the WSJ today.
Additionally, we are announcing our participation in Y Combinator’s S20 cohort.
Our funding came from an amazing group of investors including Propel Venture Partners, Y Combinator, Bain Capital Ventures, Homebrew, Acrew Capital, SWS Ventures, solo GP investors including Lachy Groom and Josh Buckley, as well as founders from successful fintech companies, such as Plaid, Marqeta and others.
Embedded is building a modern clearing and custody business from the ground up because we believe that as of today, there is no great solution for businesses to embed access to the US financial markets.
We’re looking to partner with broker-dealers, RIAs, banks, trust companies and licensed fintech startups, domestically and internationally, who want to build innovative product experiences for their customers.
Stay tuned as we continue to work towards launching in the third quarter of this year.
For now, if you would like to trial our sandbox API, please request access and we will get in contact with you.
Thanks to our investor group for trusting us, thanks to FINRA for their courtesies extended during the New Member Application process, and most importantly thanks to our team for all of their hard work.
Founder & CEO