Lead Bank, a bank that works with fintech and digital asset firms, has closed a US$70 million Series B funding round.

The round included new investors ICONIQ and Greycroft, alongside existing backers Ribbit Capital, Coatue, Khosla Ventures, Andreessen Horowitz, and Zeev Ventures.

The latest raise places the bank’s post-money valuation at US$1.47 billion.

“The fastest growing fintechs want to work with a bank that moves at their speed, without compromising on risk or compliance,”

said Jackie Reses, Chief Executive Officer of Lead Bank.

“We’re grateful to our investors, new and old, for seeing the future as we do, one where we can use technology and creativity to elevate banking standards and drive more innovation in finance.”

Reses and the current management team acquired Lead Bank in 2022 for US$56 million.

The bank’s banking-as-a-service platform has since attracted a number of fintech companies.

In April, Lead partnered with Stripe and Visa to support their stablecoin-linked payment card platform.

In July, workplace payments provider Branch, whose clients include Uber and Instacart, named Lead as a strategic banking partner.

Featured image credit: Edited by Fintech News America, based on image by wirestock via Freepik