Lead Bank Raises $70M Series B, Valued $1.47B

Lead Bank, a 97-year-old Missouri-based state-chartered bank specializing in fintech and digital asset firms, raised $70 million in its Series B funding round, boosting its valuation to $1.47 billion. The round was led by new investors ICONIQ and Greycroft, alongside existing backers including Andreessen Horowitz, Ribbit Capital, Coatue, Khosla Ventures, and Zeev Ventures. Lead Bank provides a technology-first banking-as-a-service platform that allows fintechs and digital asset companies to integrate directly into transaction workflows, while also offering full-service business and personal banking across the U.S. Since its 2022 acquisition by tech executives led by CEO Jackie Reses, the bank has rapidly expanded, growing its assets to $3 billion and nearly tripling staff. Lead Bank has formed significant partnerships, including with Stripe and Visa for a stablecoin-linked payment card platform, and with workplace payments platform Branch, serving clients such as Uber and Instacart. CEO Reses emphasized the bank’s commitment to speed, risk management, and compliance to support fast-growing fintechs, with investors viewing Lead as a critical infrastructure layer for the evolving fintech ecosystem.