About Deposits
Deposits is a Financial Services company based in Dallas (United States) founded in 2021 by Joseph Akintolayo, and was acquired by Ingo Money in September 2024. Embedded banking infrastructure and payment solutions are provided for businesses. Deposits has raised $5 million across 1 funding round from investors including Lightspeed Venture Partners, Ingo Money and ATX Venture Partners. Its chief executive, as recorded, is Joseph Akintolayo. Its focus areas include FinTech, Banking Tech, Open Banking and Aggregation APIs. Its competitors include Yodlee, Method and Orum; 3 of its 3 listed competitors have raised funding.
Company details
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.
- Headquarters Dallas, United States
- Founders Joseph Akintolayo
- Stage Acquired
- SectorsFinancial Services
- Email••••••••
- Website deposits.inc
- Social LinkedIn X
- Acquired by Ingo Money (Sep 2024)
- Total Equity Funding$5M (USD)
in 1 rounds
- Latest Funding Round$5M (USD), Seed
Aug 2022
- InvestorsLightspeed Venture Partners
& 3 more
- Acquired byIngo Money
(Sep 2024)
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 $5M
- Total Rounds 1
- Last Round Seed — $5M
- First Round $5M
(Aug 2022)
- Investors Count 3
All 1 funding rounds of Deposits with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug 2022 | $5M | Seed | – | ATX Venture Partners |
4 investors in total: 4 institutional.
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.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage venture capital investments are made by ATX Venture Partners. | 2014 | atxventurepartners.com | Austin, United States | |
Venture capital investing in innovative companies across global sectors is undertaken by Lightspeed Venture Partners. | 1997 | lsvp.com | Menlo Park, United States | |
| cabalfund.com | ||||
Check processing company | 2001 | ingomoney.com | Roswell, United States |
Investor details for Deposits
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of Deposits
1 people are tracked at Deposits (1 in leadership).
| Name | Role | Group |
|---|---|---|
Joseph Akintolayo | Founder & CEO | Leadership |
Complete people profiles for Deposits
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Timeline of Deposits
3 dated milestones of Deposits across 3 years, from founding to its latest funding, stage changes and deals.
- Founded Deposits is founded.
- Funding First funding round of $5.0M.
- Exit Acquired by Ingo Money.
Competitors of Deposits
Deposits has 3 listed competitors in our database, 3 of them funded. They include Yodlee, Method and Orum.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| yodlee.com | 1999 | Redwood, United States | $84.31M | 214 | Cloud-based data aggregation and analytics for financial institutions are offered. | |
| methodfi.com | 2019 | Austin, United States | $60M | API-enabled debt repayment tools are provided for financial services. | ||
| orum.io | 2019 | United States | $82.2M | 73 | open banking API solutions |
Detailed competitors of Deposits
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Deposits
The website of Deposits (deposits.inc) receives about 1.1K visits a month.
- Monthly visits1.1K
▼ 64.6% vs previous month
Top companies in Banking & FinTech Platforms
3 companies that operate in the same segment as Deposits (Banking & FinTech Platforms) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Online business banking and financial workflow tools are provided. | 2010 | San Francisco, California, United States | USD 546 M | USD 2.71 M | 1,807 | |
Digital banking services are offered to individuals via mobile apps. | 2012 | San Francisco, California, United States | USD 3.15 B | USD 1.96 B | 2,516 | |
Digital sustainable banking services are offered to consumers. | 2013 | Los Angeles, California, United States | USD 865 M | 237 |
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Related news about Deposits
Complete news archive for Deposits
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Deposits
Deposits was founded in 2021 and raised its 1st funding round 1 year after it was founded.
Deposits is headquartered in Dallas, United States. It is registered at Dallas, Texas, United States.
Joseph Akintolayo is the CEO of Deposits, as recorded in our data. They have also founded this 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 2022.
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.
Deposits has 4 investors. Key investors include Lightspeed Venture Partners, Ingo Money, ATX Venture Partners, and Cabalfund.com.
Yes. Deposits was acquired by Ingo Money in September 2024.