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Insight Bet Values Banking Software Startup Unit at $1.2 Billion

  • New York-based firm’s deposit volume, customer base surging
  • Insight’s Sachdev says fintech seeing ‘rapid acceleration’

Insight Partners led a $100 million equity funding round that values financial-technology startup Unit at $1.2 billion, almost quintuple the $255 million it last commanded.

New York-based Unit, which makes software that allows companies to offer banking products such as payments, lending and credit cards, is at the “epicenter” of disruption, co-founder and Chief Executive Officer Itai Damti said in an interview.