Seed is a business banking solution for businesses of any size

Country: USA

Year: 2014

Concept

  • Seed has been created by two former employees from Simple (an online bank for consumers)
  • The startup is a neo-bank designed especially for businesses of any size
  • The platform is integrated with other business services, linked to a marketplace offering competitive lending and credit from a community of providers
  • Seed is a banking service, not a bank
  • The company raised $5 million in the US in 2015

Consumer Benefits

  • Quick and convenient: paperless processes ensuring efficiency and helps users save time
  • Transparent: the domestic wire transfers are free, the ACH transactions are free, checks are free and international payments are low-cost. The neo-bank will only charge on a recurring basis
  • High insurance coverage: unlike traditional banks that offer up to $250,000 in insurance, Seed insures up to $50 million
  • Flexible: the banking solution can be tailor to fit any kind of need and business workflows.
  • Customisation: the API provides unlimited customizations

How to use

  • For now, Seed is available in the US by invite only