Enabler

Enablers are the backend providers in Embedded Finance. They provide technology and/or regulatory coverage for non-financial brands to provide financial services (e.g., banking-as-a-service providers).

UniCredit funds Wealthon's SME lending book via Vodeno

UniCredit signs €115m receivables purchase deal with Polish fintech Wealthon, funding SME lending via Vodeno's BaaS platform.

By Lars Markull

/ 10 May 2026

UniCredit funds Wealthon's SME lending book via Vodeno

Marginalen Bank turns a Swedish licensed bank into BaaS provider

Marginalen Bank launches Embedded Banking, becoming the second Swedish bank to offer BaaS to non-bank companies, following SEB Embedded.

By Lars Markull

/ 3 May 2026

Marginalen Bank turns a Swedish licensed bank into BaaS provider

Hokodo Shuts Down After Eight Years and €500M+ in Financed Invoices

Hokodo, a European B2B BNPL provider, has shut down after eight years. Founders published an unusually candid post-mortem of what went wrong.

By Lars Markull

/ 25 Apr 2026

Hokodo Shuts Down After Eight Years and €500M+ in Financed Invoices

Norwegian Bank Embeds Froda Inside Its Own Banking App

SpareBank 1 Østlandet integrates Froda Embedded into its banking app. Froda's first traditional bank partnership and one of Europe's earliest.

By Lars Markull

/ 25 Apr 2026

Norwegian Bank Embeds Froda Inside Its Own Banking App

Solaris Is Cutting 80 Jobs and Calling Itself an AI-Native Bank. The More Interesting Shift Is Who It Now Wants to Serve.

Solaris cuts 80 jobs and pivots to AI-native banking. But the more interesting question is who the Berlin BaaS pioneer now wants to serve.

By Lars Markull

/ 30 Mar 2026

Solaris Is Cutting 80 Jobs and Calling Itself an AI-Native Bank. The More Interesting Shift Is Who It Now Wants to Serve.

Flowpay Partners with Teya and Acquires Tapline as Embedded SME Lending Expands Across Europe

Flowpay partners with Teya for embedded SME lending in Central Europe and acquires Tapline to expand into Germany and the UK. What it signals for the market.

By Lars Markull

/ 23 Mar 2026

Flowpay Partners with Teya and Acquires Tapline as Embedded SME Lending Expands Across Europe

OakNorth Acquires Monite. Here's What It Says About the State of Embedded Finance.

OakNorth acquires Monite to build invoice management and expense tools into its business banking product. A different kind of embedded finance exit.

By Lars Markull

/ 16 Mar 2026

OakNorth Acquires Monite. Here's What It Says About the State of Embedded Finance.

Why ConnectPay Chose to Build Its Core Banking System From Scratch

ConnectPay built its own core banking system, Mars. Here is why that decision makes sense for a BaaS provider at scale.

By Lars Markull

/ 23 Feb 2026

Why ConnectPay Chose to Build Its Core Banking System From Scratch

Wrisk Brings Open Banking Into Embedded Insurance With Atto Acquisition

Wrisk acquires Atto to combine embedded motor insurance with open banking credit intelligence for automotive OEMs. One platform, fewer integrations.

By Lars Markull

/ 23 Feb 2026

Wrisk Brings Open Banking Into Embedded Insurance With Atto Acquisition

The Intergiro Story: How a Profitable BaaS Provider Lost Its License Overnight - Told by Nick Root

Intergiro was profitable and bootstrapped. Then the Swedish regulator revoked its license overnight. CEO Nick Root tells his side of the story.

By Lars Markull

/ 5 Feb 2026

The Intergiro Story: How a Profitable BaaS Provider Lost Its License Overnight - Told by Nick Root

Airwallex Expands to DACH with €31 Million Investment

Airwallex launches in Germany with €31M investment. The Australian payments platform targets SMEs and embedded finance partnerships across the DACH region.

By Lars Markull

/ 3 Feb 2026

Shares enters exclusive talks to acquire Treezor from Société Générale

French investment fintech Shares enters exclusive negotiations to buy Treezor, the BaaS platform that helped launch Qonto, Lydia, and Swile.

By Lars Markull

/ 30 Jan 2026

Shares enters exclusive talks to acquire Treezor from Société Générale