Bank / Credit Union

Capchase picks BankProv for banking-as-a-service solution

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November 29, 2021

Capchase, a non-dilutive capital provider, has selected BankProv, a commercial bank, to offer its banking-as-a-service infrastructure for its Capchase Earn product. This product will allow companies to earn monthly rewards for idle cash and reduce the cost of capital, according to a press release.

BankProv will support Earn through its banking infrastructure, including white-labeled deposit products with 100% deposit insurance. Capchase will also use Modern Treasury for payments and reconciliation.

"Capchase Earn is going to change the way companies grow forever," Miguel Fernandez, co-founder and CEO of Capchase, said in the release. "By combining this account with our other revenue financing products, a company raising a round for 18 months of runway can now go 2.5 times longer without slowing down for a negligible cost. This is a game changer for the startup community and is yet another way Capchase is working to help startups focus on building and growing first, not fundraising."