Thread Bancorp, the parent company of Thread Bank (the “Bank”), a wholly-owned subsidiary, has raised $30.5 million, led by Portage Ventures, to accelerate its embedded banking strategy, signaling continued investor appetite for bank-as-a-service models anchored in regulated institutions. The capital reinforces Thread’s transition from a traditional community bank to a national, tech-forward platform, supported by strong operating traction, including over $2 billion in partner deposits and rapid growth in embedded deposits. The raise strengthens Thread’s balance sheet and core infrastructure investments, positioning it as a scalable partner for vertical SaaS and consumer brands as embedded finance becomes a primary distribution channel for banking products.

Thread Raises $30.5 Million to Continue Building the Future of Embedded Banking