About Deposits
Deposits is a company based in Dallas (United States) founded in 2021 by Joseph Akintolayo was acquired by Ingo Money in September 2024.. Deposits has raised $5 million across 1 funding round from investors including Lightspeed Venture Partners, Ingo Money and ATX Venture Partners. Deposits operates in a competitive market with competitors including Codat, Banked, Yodlee, Bud and Method, among others.
- Headquarter Dallas, United States
- Founders Joseph Akintolayo
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$5 M (USD)
in 1 rounds
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Latest Funding Round
$5 M (USD), Seed
Aug 23, 2022
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Investors
Lightspeed Venture Partners
& 3 more
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Employee Count
Employee Count
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Acquired by
Ingo Money
(Sep 05, 2024)
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Funding Insights of Deposits
Deposits has successfully raised a total of $5M through 1 strategic funding round. The most recent funding activity was a Seed round of $5 million completed in August 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Seed — $5.0M
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First Round
First Round
(23 Aug 2022)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2022 | Amount | Seed - Deposits | Valuation | ATX Venture Partners |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Deposits
Deposits has secured backing from 4 investors, including venture fund investors. Prominent investors backing the company include Lightspeed Venture Partners, Ingo Money and ATX Venture Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Early-stage venture capital investments are made by ATX Venture Partners.
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Founded Year | Domain | Location | |
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Venture capital investing in innovative companies across global sectors is undertaken by Lightspeed Venture Partners.
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Founded Year | Domain | Location | |
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Deposits
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Deposits
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Deposits Comparisons
Competitors of Deposits
Deposits operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Codat, Banked, Yodlee, Bud and Method, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Developer of cloud-based financial analysis and forecasting solutions for small and medium businesses
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| domain | founded_year | HQ Location |
Open banking APIs for payments and data access are provided.
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| domain | founded_year | HQ Location |
Cloud-based data aggregation and analytics for financial institutions are offered.
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| domain | founded_year | HQ Location |
Bud Financial is focused on transforming transaction data into actionable insights for financial institutions.
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| domain | founded_year | HQ Location |
API-enabled debt repayment tools are provided for financial services.
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| domain | founded_year | HQ Location |
open banking API solutions
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Deposits
Frequently Asked Questions about Deposits
When was Deposits founded?
Deposits was founded in 2021 and raised its 1st funding round 1 year after it was founded.
Where is Deposits located?
Deposits is headquartered in Dallas, United States. It is registered at Dallas, Texas, United States.
Who is the current CEO of Deposits?
Joseph Akintolayo is the current CEO of Deposits. They have also founded this company.
Is Deposits a funded company?
Deposits is a funded company, having raised a total of $5M across 1 funding round to date. The company's 1st funding round was a Seed of $5M, raised on Aug 23, 2022.
What does Deposits do?
Provider of embedded banking infrastructure and payment solutions. This company offers scalable solutions for account funding, payouts, digital wallets, bank accounts, and card issuing. Its platform includes features such as compliance automation, risk management tools, and a flexible connectivity model supporting various integration methods (API, iframe, etc). The services are designed to facilitate seamless financial experiences for businesses across diverse industries, including fintech, banking, and various other sectors. The company provides real-time digital disbursements and supports various payment types, including P2P transactions. A streamlined back-office console allows for efficient management of payment flows and customer data.
Who are Deposits's investors?
Deposits has 4 investors. Key investors include Lightspeed Venture Partners, Ingo Money, ATX Venture Partners, and Cabalfund.com.