small biz holdco that formed a bank

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June 16, 2024

by a searcher in Aliso Viejo, CA, USA

Does anyone know the name of the Small biz Holdco that formed a bank to provide financial services to its member businesses? They might incorporate ESOP structure as well. Ring any bells for anyone?

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Reply by a searcher
in Aliso Viejo, CA, USA
Yes, that's it! Thank you Dmitry! They got a bunch of VC funding to buy businesses and build their own bank/fintech ecosystem, then sell loans, insurance, and credit cards to their own businesses. Super interesting model, where Teamshares gets "revenue from a growing array of fintech products that it sells to the businesses it buys. Think insurance, think credit cards. If everything goes as planned, Teamshares will eventually replace the majority of vendors these companies use — and become a brand known to many others outside of its immediate sphere." Thanks! More info at their website: www.teamshares.com
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Reply by a searcher
from The University of Chicago in Singapore
Not exactly, but smth like this: https://techcrunch.com/2023/08/24/this-venture-backed-startup-has-quietly-bought-more-than-80-mom-and-pop-shops/
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