Hi Embedded Finance Friend
Two important updates: Spring has arrived in Berlin, and I am the proud owner of a portafilter espresso machine. If this newsletter turns into barista content, I have warned you ;-)
One week after announcing our April Berlin event, we already have 95 signups, which honestly exceeded my expectations. The event is sponsored by Marqeta, Visa and YouLend, and FIBE is announcing our partnership later this month, so I expect the number to grow quickly from here. If you are planning to join, I would not wait too long: Register Now
Before we dive in, I focus on European content and will continue to do so. That said, I still cover stories from around the globe when they are worth your time. This week, two US stories from industries you would not normally associate with embedded finance, which is exactly why I included them.
And now let’s dive in 👇
Clio brings embedded finance to law firms
What happened: Clio launches working capital for US law firms ++ Pre-qualified offers based on platform data ++ Powered by Stripe and Celtic Bank ++ Funds in two business days
Clio, the legal practice management platform used by 150,000 legal professionals, has launched embedded working capital for US law firms. Firms receive pre-qualified offers based on their activity inside the platform, with funds arriving within two business days at a flat fee. What makes this interesting is the underwriting: instead of relying purely on bank account data, Clio uses what flows through the platform, from case volume to billing patterns. I cannot think of another legal software provider that has gone this far.
Read the full story on Embedded Finance Review.
ClassDojo picks a niche provider over Stripe for school payments
What happened: ClassDojo announces embedded payments for US school districts ++ Powered by Pay Theory, not Stripe ++ Launching late 2026 ++ Used in 95% of US schools
ClassDojo, the communication platform used in 95% of US schools, has announced embedded payments for school districts, powered by Pay Theory. Launching in late 2026, it will allow schools to collect field trip fees, fundraiser contributions, and technology fees inside the platform families already use daily. The provider choice is worth noting: Pay Theory is a niche player purpose-built for education, and their compliance with FERPA and COPPA was likely a key reason they beat household-name alternatives.
Read the full story on Embedded Finance Review.
Liberis is back with two UK partnerships in a week
What happened: Dojo and Liberis launch Dojo Flex Funds ++ 150,000 UK merchants ++ Capital available from day one of onboarding ++ 90% approval rates
Dojo, a UK payments provider serving 150,000 businesses, has partnered with Liberis to launch embedded working capital available from day one of the merchant relationship. New merchants can access funding before processing a single transaction through the platform, with 90% approval rates assessed on real trading data. This is also Liberis's second major UK partnership in under two weeks, after Deliveroo Capital on February 16.
Read the full story on Embedded Finance Review.
In other Embedded Finance news
- Legal vertical heats up: Confido Legal, a US embedded payments platform for law firms and legal tech companies, raised $9 million to expand its payments and disbursements infrastructure. Part of the funding goes toward further developing their disbursements product: sending settlement funds digitally rather than by paper check, which is still standard at many US plaintiff-side firms. (Source)
- PayPal partners with Rainforest: Rainforest, a US embedded payments provider for vertical software platforms, has integrated PayPal, Venmo, and PayPal Pay Later into its platform via a single API. Software companies previously had to integrate each payment method separately. (Source)
- Column crosses $200M revenue: Column, a US nationally chartered bank purpose-built for fintech companies, has crossed $200 million in annual revenue with around 110 employees, roughly $1.8 million per head. It powers the banking infrastructure behind Brex, Mercury, Ramp, and Wise in the US. (Source)
- Stripe 2025 annual letter: Stripe processed $1.9 trillion in 2025, equivalent to 1.6% of global GDP. Its revenue suite is approaching $1 billion in annual recurring revenue. The letter doubles down on stablecoins via the Bridge acquisition. (Source)
- Branded card programmes in Europe: Launching a branded card programme in Europe used to take up to 12 months. A recent webinar featuring Visa and GF Money puts the current average at three to four months, with some programmes going live in 28 days. The drivers: API-first infrastructure from newer issuing providers and the regulatory clarity PSD2 brought for non-banks entering the card space. (Source)
That's it for this edition. If you enjoy my newsletter, podcast, or events, the best way to support me is to share them with others in your network. Feedback is always welcome, too.
Need help with an embedded finance project? Visit my website and let's talk.
Best wishes from Berlin,
Lars Markull (LinkedIn)
