Founder of fintech Increase acquires a Washington state bank
Darragh Buckley, founder of fintech company Increase, has acquired Twin City Bancorp in Longview, Washington. The acquisition allows Increase to operate as a regulated bank under the name 'Increase Bank,' enhancing its ability to serve other fintech clients by offering banking services such as money movement and card issuing. The move was not directly influenced by recent regulatory changes but aligns with Buckley's long-term vision of combining technology and traditional banking. The rebranded Increase Bank, which received approval from the Federal Reserve in June 2025, aims to provide a modern platform for fintech clients like Stripe, Ramp, and Gusto. Increase’s new bank infrastructure connects directly to major financial systems such as the Federal Reserve and Visa, enabling faster transaction processing. The acquisition of Twin City Bancorp—valued at $114.6 million in assets—was part of Buckley's broader strategy to offer a reliable banking solution tailored for technology-driven businesses.
Topics: acquisition bank charter fintech growth