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§ Private Profile · San Francisco, CA, USA
Mobile banking for small business.
Seed has raised $67.0M across 4 funding rounds.
Key people at Seed.
Seed was founded in 2016 by Brian Merritt (Founder/CEO) and Ryan Hildebrand (Founder).
Seed has raised $67.0M in total across 4 funding rounds.
Seed is simply a better way to bank. As a mobile first banking service designed with the small business in mind, Seed empowers small businesses with modern, easy-to-use digital tools and customer-support resources for starting, running, and growing a business. With Seed, business banking has never been easier. Learn more at https://seed.co
Key people at Seed.
Seed is a San Francisco-based mobile-first banking service specifically designed for small businesses, offering modern digital tools and customer support to help entrepreneurs start, run, and grow their businesses. Its product suite includes a business checking account, Visa Business Debit card, bill pay services (ACH and paper checks), mobile deposits, and electronic vendor payments. Seed aims to simplify business banking by eliminating monthly fees (previously $9/month) and providing a free, easy-to-use platform, though it charges for wire transfers. The service is available on iOS and online, serving customers across 40 U.S. states[1][2][3].
For an investment firm perspective, Seed’s mission centers on empowering small businesses with accessible, technology-driven banking solutions. Its investment philosophy likely emphasizes fintech innovation targeting underserved SME banking needs. Key sectors include fintech and small business financial services. Seed’s impact on the startup ecosystem lies in advancing digital banking adoption among small businesses, addressing gaps left by traditional banks, and fostering financial inclusion through mobile-first solutions[1][2].
Seed was founded in 2014 by Ryan Hildebrand, a serial fintech entrepreneur with deep experience at the intersection of technology and banking. Hildebrand was part of the early team behind Simple, the first consumer fintech bank, and led its sale to BBVA before founding Seed as the first business fintech bank. The idea emerged from recognizing the challenges small businesses face with traditional banking, particularly the lack of mobile-first, easy-to-use financial tools tailored to their needs. Early traction included participation in Y Combinator’s Winter 2015 batch and eventual acquisition by Cross River Bank, where Hildebrand became Head of Fintech Banking[3].
Seed rides the wave of digital transformation in small business banking, addressing a market where many traditional banks lag in mobile innovation. With nearly 30 million small businesses in the U.S., many owners find existing banking apps limited or insufficient. Seed capitalizes on this gap by offering a fully digital, mobile-first banking experience tailored to SMEs, at a time when demand for fintech alternatives is rising. Market forces such as increasing mobile adoption, dissatisfaction with legacy banking, and the growth of non-bank financial apps favor Seed’s model. Its influence extends by pushing the broader ecosystem toward more SME-centric, technology-driven banking solutions[2][4].
Seed’s future likely involves expanding its user base across more states and enhancing its product suite to include more integrated financial management tools for small businesses. Trends shaping its journey include continued fintech innovation, increased SME demand for digital banking, and regulatory shifts favoring fintech partnerships with banks. As Seed evolves, it may deepen its role as a key enabler of small business financial health and digital banking adoption, potentially influencing traditional banks to accelerate their SME-focused digital offerings. Its trajectory exemplifies how fintech can transform underserved segments by combining technology, user-centric design, and community engagement[1][2][3].
Seed has raised $67.0M across 4 funding rounds. Most recently, it raised $40.0M Seed Health - Series A in April 2021.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Sep 1, 2016 | Juvo | $14.0M Series A | — | 7GC & Co, 8VC, ALL Iron Ventures, Andreessen Horowitz, Ayana Capital LLC, Bain Capital Ventures, Battery Ventures, Bessemer Venture Partners, Better Tomorrow Ventures, Canvas Ventures, Catapult Capital, Citi Ventures, Dispersion Capital, Endeavor Catalyst, Fifth Wall, FJ Labs, Flex Capital, Footwork, Founders Fund, Foundry Group, Geek Ventures, Human Augmentation Syndicate, Jackson Square Ventures, Nyca Partners, PS Investments, Rumbo Ventures, Sapphire Ventures, Scrum Ventures, Social Capital, Teamworthy Ventures, Telstra Ventures, TWO Bear Capital, Wing Venture Capital, Y Combinator, Adrian Aoun, Alexander Torrenegra, Charlie Songhurst, Drew Houston, Ellen PAO, Fredrik Björk, James Hong, Jeremy Stoppelman, Joshua Schachter, Manolo Atala, Marc Benioff, Marissa Mayer, Mike Hennessey, Nirav Tolia, Paul Matteucci, Wences Casares, Arun Sarin, Duncan L. Niederauer, Freestyle Capital |
Seed was founded in 2016 by Brian Merritt (Founder/CEO) and Ryan Hildebrand (Founder).
Seed has raised $67.0M in total across 4 funding rounds.
Seed's investors include Ernesto Schmitt, Alumni Ventures, Anderson Angels, Vasudev Bailey, Artis Ventures (AV), Modern Venture Partners, Rebel Fund, Daniel Rothman, 8VC, Founders Fund, GISEV, Endeavor Venture Funds.
