US fintech Bond teams up with Evolve Bank & Trust for BaaS offering

US-based Bond Financial Technologies has entered a partnership with Evolve Bank & Trust to offer Banking-as-a-Service (BaaS) solutions for entrepreneurs.

Bond partners Evolve. Image source: Bond Financial Technologies

By adding Evolve to its ecosystem of bank partners, Bond claims it will offer new debit and credit card capabilities for businesses and consumers.

Bond is an embedded finance firm that aims to streamline the integration between brands and banks, enabling digital brands to better engage with customers by offering personalised banking products.

Some of the features offered by Bond include no-fee instant payouts for Software-as-a-Service (SaaS) companies, expense management cards for businesses and consumer solutions such as a credit builder card and crypto-backed credit card.

Bond has raised $42 million in funding to date from investors such as Mastercard and Goldman Sachs, and is headquartered in San Francisco.

Evolve Bank & Trust is a financial technology institution and BaaS provider offering specialised services in open banking and payments.

“As one of the earliest sponsor banks to adopt a fintech-first model, we are already benefiting from Evolve’s experiences and insights,” says Roy Ng, co-founder and CEO of Bond.