21 August 2017
Find out more

Simple veterans target business banking

18 February 2015  |  7889 views  |  0 Team meeting with tablet

Simple veterans Brian Merritt and Ryan Hildebrand have set their sights on the world of business banking, introducing their new neobank called Seed and launching an API.

In a blog post, the co-founders argue that traditional banks have lost their way in the provision of services to businesses, "using dated, one-size-fits-all platforms that employ poor technology while providing frustrating customer service".

Seed is promising "modern, efficient, and secure mobile and web applications for online banking, so you can effortlessly manage your business wherever you are".

The Y Combinator-backed startup is offering up to $50 million of FDIC insurance, free domestic wire transfers, ACH transactions and cheque sending, and "low-cost" international payments.

Seed is now inviting businesses to apply for an invite. Although its own apps will not appear for a few months, the firm has released what it claims is the world's first business banking API, enabling firms to build their own tools.

Merritt and Hildebrand both have form when it comes to building a digital neobank, spending several years in senior positions at Simple, the consumer-focused platform that generated huge attention, if few customers, before being acquired last year by BBVA for $117 million.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

New neo-bank Koho targets Canada's Generation Y

New neo-bank Koho targets Canada's Generation Y

03 December 2014  |  10369 views  |  7 comments | 8 tweets | 13 linkedin
BBVA buys Simple for $117m

BBVA buys Simple for $117m

20 February 2014  |  11384 views  |  1 comments | 11 tweets | 17 linkedin
Banksimple plans late-2010 launch

Banksimple plans late-2010 launch

23 March 2010  |  8667 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comdownload the paper nowvisit www.dorsum.eu

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
10511 views comments | 24 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
8782 views comments | 19 tweets | 23 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
8647 views 0 | 3 tweets | 1 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
8451 views comments | 10 tweets | 7 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
7965 views comments | 17 tweets | 16 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job