Hi Embedded Finance Friend
In less than one month, we are hosting our 9th Embedded Finance Review Event in Berlin. And today, I am starting to reveal some more details about the event, most importantly, the first agenda slot!
I'll be sitting down with Leonard Strigel (GM Europe, YouLend) and Felix Kristl (GM Seller Capital, eBay) to discuss what it actually takes to embed financial products into a marketplace. We'll dig into the partnership behind eBay's seller financing, why traditional lenders keep failing small businesses, and where embedded lending goes from here.
More than 150 people have already registered for our event. We still have tickets, but I expect them to sell out at least a week before the event. So don't wait too long and grab yours now.
Also, some of you might remember that I hosted a few Virtual Events in 2025. I am a big fan of the format, but as I am doing this without sponsors, it's one of the things that falls off the table if times get busy. That said, I have one (or maybe even two) interesting sessions that I am currently discussing. If you want Virtual Events to come back, click on the Thumbs Up Button (Or "More like this") at the end of this mailing.
And now let’s dive in 👇
Embedder
HiBob partners with Modulr to complete its payroll workflow
What happened: HiBob embeds payment execution via Modulr ++ Salary payments processed automatically after payroll approval ++ Removes separate bank portal step ++ UK-focused, targets scaling businesses
HiBob has partnered with UK payments automation provider Modulr to embed payment execution directly into its payroll workflow. Once payroll is approved in HiBob, salary payments and tax submissions to the UK government are automatically processed by Modulr, removing the need for manual file exports or a separate bank portal. It is the final piece in a payroll buildout HiBob started in 2024 with its own UK payroll product, and continued with a US payroll launch and financial planning tools in 2025.
Read the full story on Embedded Finance Review.
Enabler
OakNorth acquires Monite to deepen its business banking product
What happened: OakNorth completes strategic transaction with Monite ++ Full product and engineering team moves over ++ Invoice management and expense tools coming to OakNorth in Q2 2026
OakNorth has acquired Monite, a Berlin-based embedded finance provider that enables businesses to add invoice management, business payments, and expense management to their products. The deal brings Monite's technology and team into OakNorth, integrating its capabilities directly into OakNorth's business banking product for lower mid-market entrepreneurs in the UK and US.
Read the full story on Embedded Finance Review.
In other Embedded Finance news
Aazzur partners with Wallester: Berlin-based embedded finance orchestration platform Aazzur has added Estonian card issuer Wallester to its regulated partner ecosystem. Businesses using Aazzur can now access Wallester's Visa card-issuing infrastructure through a single integration, without managing a separate contractual or technical relationship. (Source)
Kayna raises €1.5m for embedded insurance infrastructure: Irish insurtech Kayna has closed a €1.5 million seed round to expand its embedded insurance platform in the UK and US. Kayna enables vertical SaaS platforms to offer tailored commercial insurance directly through their product, with live programmes already running in sectors including cyber, equine, and physical security. (Source; Listen also to our podcast with Kayna)
Why AI makes fintech moats stronger, not weaker: Matt Brown from Matrix argues that fintech's real costs were never in the code but in credit losses, compliance spend, and transaction data, and that AI compounds the advantage of companies that own those things. The piece draws a sharp line between fintechs that own the regulatory relationship and accumulate proprietary data versus those that rent a BaaS provider's license and wrap it in a better UI. The latter have the same problem as SaaS companies: their differentiation just got cheaper. (Source)
54% of B2B platforms report revenue gains from embedded finance: A PYMNTS Intelligence study produced in collaboration with Marqeta found that more than half of US B2B platforms have seen direct revenue increases after adding embedded finance capabilities. The larger the platform, the more embedded finance features it tends to offer, with every billion-dollar platform surveyed offering at least one embedded payment capability. Please note, the study covered 30 US platforms with $500M+ in revenue, so treat the numbers as directional rather than market-wide. (Source)
Mastercard on B2B marketplace payments: Mastercard has published a report on modernising payments in B2B marketplaces, covering how platforms can unlock revenue by embedding financial services into their transaction flows. (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)
