Stripe alum buys US bank, renames it Increase Bank in fintech play
What's the deal? Darragh BuckleyDealroom has a profile for this one. Try Dealroom →, an early Stripe employee, has fully acquired Twin City Bank and renamed it IncreaseDealroom has a profile for this one. Try Dealroom → Bank. He bought voting shares in 2025 before taking over the lender completely, folding it into his financial-product startup, Increase.
What's the endgame? Increase, founded in 2020, has worked as the technology layer between banks and fintechs such as Stripe and Ramp. Owning a bank lets Buckley stop relying on partners for the regulated portion of the work. "It's time for us to tie those things more tightly together," he said.
Why now? Buckley says he has long seen the challenges fintechs face given the complicated setup needed to build products. "I built it to be the banking technology that I wanted while building Stripe," he said.
What changes? Increase Bank, led by chief executive Jon Jones, will provide more digitally native banking infrastructure for clients. Buckley plans to keep the bank's physical location in Longview, Washington, along with its community banking business.
The signal: The move vaults Increase into a competitive space dominated by firms such as Lead Bank and ColumnDealroom has a profile for this one. Try Dealroom →, which supply fintechs with sought-after banking platforms. Buying a charter — rather than renting one — signals fintech infrastructure players moving to own the regulated core themselves.
Read more: The Irish Times
Image credit: Generated with Gemini
