News & Events

News and Events

Check back often for updated news and events

Press Releases

An archive of Sila press releases

Sila Provides Instant Access to ACH Debits on Its Platform Through Instant Settlement

April 18, 2022 PORTLAND, Ore., (April 18, 2022) - Sila Inc., a fintech software platform that provides payment infrastructure as a service, today announced a new product called Instant Settlement. It provides instant access to ACH debits made to the Sila platform. Customers no longer have to use their own capital to pre-fund the full amount of a transaction or wait days for an ACH debit to clear. Instead, Sila is advancing funds for a fee. The responsibility for returned transactions remains with the customer, who is required to maintain sufficient funds in a reserve wallet to cover just that return risk. Instant Settlement is a great option in scenarios where ACH is the preferred method but return risks are small such as with payroll, back-office money movements, B2B transactions, or cash transactions at brick and mortar locations (“good funds”). With transaction speed being a differentiator, offering Instant Settlement can be a valuable competitive advantage for businesses.

Former Wyre CTO Chris Chen becomes CTO at Sila

April 14, 2022 PORTLAND, Ore., (April 14, 2022) - Sila Inc., a fintech software platform that provides payment infrastructure as a service, today announced that Chris Chen has joined the firm as its CTO. Chris joins from Wyre, a global crypto onramp and banking-as-a-service company, that was acquired by Bolt Financial Inc. He will be leading Sila’s engineering and product teams and drive strategic initiatives to deepen and expand Sila’s products and services.

Sila Supports FRICH, Helping Young Professionals Master Their Finances

April 7, 2022 Sila Inc., a fintech software platform that provides payment infrastructure as a service, today announced how it supports FRICH, a personal finance app for Gen Z, to help its customers better understand their finances and save money in a novel and fun way. FRICH was co-founded by Aleksandra Medina and Katrin Kaurov. Neither one had a background in finance; however, they experienced the challenges of being a young adult trying to save money while starting professional careers. Inspired by the fitness app business model, which helps users achieve their fitness goals faster by creating virtual work-out groups that pursue shared goals, FRICH was born. These proven methods that work to achieve fitness goals are destined to work for personal finance goals as well. To serve its user base, FRICH relies on Sila’s payment infrastructure to provide bank account linking services, KYC (Know Your Customer), and virtual wallets for saving money when putting aside funds for a bigger goal.

Sila Launches Virtual Accounts, Partners With Argyle for Direct Deposit Switching

March 24, 2022 Sila Inc., a fintech software platform that provides payment infrastructure as a service, today announced the launch of a new product called Virtual Accounts. Virtual Accounts are digital wallets with dedicated account and routing numbers that integrate seamlessly with the U.S. banking system. Sila’s customers can now initiate ACH credits and debits to Virtual Accounts like they can with a traditional bank account. Through a new partnership with employment data aggregator Argyle, Sila customers now also have the ability to perform in-app direct deposit switching across Argyle’s network of over 500,000 employers and 300+ payroll and gig platforms.

Sila Partners With Corpay to Improve Global FX Capabilities

March 9, 2022 Sila Inc., a fintech software platform that provides payment infrastructure as a service, today announced that it partnered with Corpay, a FLEETCOR brand that provides integrated cross-border payments and currency risk management solutions. This partnership will expand Sila’s cross-border payment capabilities and access to global FX markets for its customers by providing them with access to 145+ currencies in over 100 countries. Customers will be able to seamlessly move between domestic and international payment options even more so than before.

Wedge Partners with Sila Adding Speed and Security to Smart Debit Card

March 1, 2022 Today Wedge, the first smart debit card that lets users pay for everyday purchases with any asset, announced a strategic partnership with Sila Inc., a premier fintech software platform that provides payment infrastructure as a service. The partnership adds an industry-leading layer of speed and safety for Wedge users, who benefit from market movements from more than 2,000 different stocks, ETFs, and cryptocurrencies. The partnership with Sila further enhances Wedge's vision to provide users with better, faster and more secure payment solutions. Previously announced partnerships include digital advertising platform Cardlytics.

Sila Empowers Dash.Fi To Offer E-Commerce Brands A Unique Charge Card For Their Multi-Million Dollar Ad Spend

February 23, 2022 Sila Inc., a fintech software platform that provides payment infrastructure as a service, today announced that it partnered with dash.fi, a vertical fintech company serving the multi-million digital advertising industry, to create the first charge card purpose-built for advertisers. Close to $500 billion dollars are currently spent on digital ads globally every year. That number grew by 30% in 2020 and 25% in 2021. In partnering with Sila’s payment technology, dash.fi has designed its next-day-settle charge card to meet the specific operational and liquidity needs of e-commerce merchants that spend millions on marketing.

Sila Offers Customers Digital Debt Collection Services through New TrueAccord Partnership

February 7, 2022 Sila Inc., a fintech software platform that provides payment infrastructure as a service, today announced that it partnered with TrueAccord, the leading debt collection company offering intelligent, digital-first collection and recovery solutions, to make it easier for Sila’s customers to use TrueAccord’s products and services. Dealing with delinquent and defaulted accounts is a key element that fintechs need to have in place as part of their overall management of funds. Using a patented machine learning engine and engagement data from millions of customers, TrueAccord delivers a personalized, self-serve experience that drives consumer engagement and industry-leading results. Meeting consumer preference for digital-first services, TrueAccord uses a range of channels including email, SMS, voicemail drop, and more to cut through the noise and empower customer self-service and inbound communication.

Sila and Sequoir Create an Embedded Solution for Crypto Trading and Custody

January 12, 2022 Sila Inc., a fintech software platform that provides payment infrastructure as a service, today announced that it partnered with Sequoir, a provider of blockchain trading and custody infrastructure, to create custom blockchain solutions for businesses. This opens up new revenue streams for banks, credit unions, fintech, and the so-called Web 3.0. Sequoir’s Partner API provides a simple and secure way to buy, sell and custody different digital assets. The Partner API enables Bitcoin, Ethereum, and other digital asset execution, settlement, and custody to be embedded quickly and with ease within a fintech app or financial institution. Thanks to a deep integration between the two firm’s technologies, customers experience a seamless flow of transactions and a high-level of fraud protection.

Sila Enables bunny.money to Eliminate Online Fundraising Fees for Nonprofits

December 1, 2021 Sila Inc., a fintech software platform that provides payment infrastructure as a service, today announced how one of its clients, BUNNYMONEY, Inc. (“bunny.money”), a Certified B Corporation™, is allowing nonprofits to fundraise with no fees through its platform. Not many people realize that when they donate to good causes online, the nonprofit organization has to pay between 3 and 11% in fees to receive the money. bunny.money estimates that no less than $9 billion are lost in the US annually from individuals’ donations for various processing fees. These are funds that could be better allocated towards the nonprofits’ mission. bunny.money with the help of Sila’s technology solutions including digital wallets has now created a far better and cost-efficient alternative, channeling individuals’ donations to charities in full.

Sila and Arcus Partner to Unlock Bill Payment Solutions To 18K+ Billers In The U.S.

October 6, 2021 Sila Inc., a fintech software platform that provides payment infrastructure as a service, today announced a partnership with Arcus, a payment-as-a-service platform that enables any business to launch and offer innovative payment solutions across the Americas. By combining both companies’ particular strengths, bill payment to more than 18,000 US billers is now available to their customers.

Sila Smart Risk Management Translates into Instant ACH for Customers

September 16, 2021 Sila Inc., a fintech software platform that provides payment infrastructure as a service, today announced that it has rolled out Instant ACH, a new service that uses state-of-the-art risk management to avail customers of funds from ACH debit transactions instantly. After passing a risk analysis, funds are immediately available to the end-user for ACH debits.

Sila Strengthens Executive Team with Rick Holt Named Chief Revenue Officer

September 9, 2021 Sila Inc., a fintech software platform that provides payment infrastructure as a service, today announced that Rick Holt was appointed the firm’s first chief revenue officer. Holt had been with Sila for several months as the acting VP of Sales. In his new role, Holt will be responsible for the cohesiveness of Sila’s revenue-related functions including sales, marketing, and customer experience. For over 20 years, Holt has guided revenue generation and developed leadership teams to successfully address growth, profitability, and other tough management challenges. In doing so he has generated tens of millions of dollars in revenue, profits, and enterprise value.

Sila Recognized as One of the Best Places to Work in Financial Technology 2021

August 25, 2021 Sila Inc., a fintech software platform that provides payment infrastructure as a service, today announced that it has earned the distinction of being named one of the 2021 Best Places to Work in Financial Technology by Arizent, publisher of American Banker, The Bond Buyer, National Mortgage News, and other leading business-to-business publications.

Sila Secures $13 Million in Series A Funding Led by Revolution Ventures

July 26, 2021 Sila, an API platform that provides payment infrastructure as a service while ensuring regulatory compliance, announced today $13M in Series A funding led by Revolution Ventures, bringing total funding to over $20M. Existing investors, Madrona Venture Group, Oregon Venture Fund, and Mucker Capital, and angels including Taavet Hinrikus, Co-founder and Chairman of Wise, also participated in the round.

Constitution Lending Partners With Sila to Revolutionize Hard Money Lending

July 21, 2021 Sila Inc., a fintech software platform that provides payment infrastructure as a service, today announced that Constitution Lending Partners, the premier hard money lender for all property types, selected Sila as its strategic partner to realize its vision of democratizing access to real estate credit opportunities and to provide a better more seamless lending experience for borrowers.

Sila in the News

A compilation of articles and podcasts. Some websites may require registration or a subscription to access the full story.

ACH Payments: Interview with Shamir Karkal, CEO and Co-Founder of Sila

April 27, 2022 IBS Intelligence IBS Intelligence sat down with Shamir Karkal, CEO of Sila, to discuss the ACH Payments system in the USA.

Sila and Corpay in Payments Collaboration

March 10, 2022 FXcompared.com Our most recent press release got picked up in this publication focused on money transfer research.

Case Study: Inside Sila and TrueAccord's Partnership

February 15, 2022 Mortgage Professionals America (MPA) Our partnership with TrueAccord triggered this conversation with the reporter who writes about the details of our agreement and how it is going to benefit customers.

Sila Provides Clients with Digital Debt Collection Services via Partnership with Fintech TrueAccord

February 8, 2022 Crowdfund Insider Our press release announcing the partnership with TrueAccord got picked up in this industry publication.

Crystal Ball 2030: Sila CEO Shamir Karkal on the Future of Finance

January 16, 2022 Barefoot Innovation Podcast Listen to Shamir expand on what started as a presentation at a conference; predictions for the financial sector in 2030: Big banks, small banks, CU, fintech, crypto, Web3.

Shamir Karkal, co-founder and CEO of Sila, on the modern payments stack

November 16, 2021 Sacra The private research company SACRA interviewed Shamir as part of their 'expert interview series' on they payment infrastructure industry, its history and outlook for the future.

Where the Hotspots Are for FinTech Entrepreneurs in the US and Global

October 19, 2021 Nasdaq TradeTalks Shamir Karkal got interviewed on the floor of the Empire Startup Conference in NYC. He discussed the state of fintech with Nasdaq's Jill Malandrino, including why Silicon Valley is not a hotbed of fintech startups (yet).

Sila Strengthens Executive Team with Rick Holt Named Chief Revenue Officer

September 10, 2021 Global FintechSeries Sila announced that Rick Holt was appointed the firm’s first chief revenue officer. Holt had been with Sila for several months as the acting VP of Sales. In his new role, Holt will be responsible for the cohesiveness of Sila’s revenue-related functions including sales, marketing, and customer experience.

Sila Founder Shamir Karkal on fintech growth and raising a $13M round

September 1, 2021 Portland Business Journal Shamir is sharing an update on Sila's recent funding round, and on how the business has been growing over the last year. Despite (or in some way thanks to) COVID.

The Startup Enemies of Wall Street Are Booming

March 29, 2021 The New York Times Shamir Karkal is one of the industry thought leaders quoted in this article.

Programmable Money: Sila Co-Founders Shamir Karkal and Angela Wilson

April 23, 2020 Barefoot Innovation Group Listen to 2 of the 4 co-founders of Sila discuss their startup and the fintech industry.

Sila, a Startup Founded by Shamir Karkal to Rethink ACH, Raises $7.7 Million

April 8, 2020 Finovate Read about Sila's initial funding round and growth plans.

Chris Chen Joins Portland Fintech Startup Sila as CTO

March 14, 2022 Silicon Florist I’m always saying that we have a super interesting fintech cluster here in town. Thanks, in part, to the diaspora from early challenger banks like Simple. And a recent hire — by a company helmed by one of the cofounders of Simple — lends credence to that assertion. You see, Chris Chen, formerly CTO of Wyre, has joined Sila as CTO.

Sila Supports FRICH, Helping Gen Z Master Their Finances

April 8, 2022 IBS intelligence Our recent press release got picked up and reported by IBS intelligence.

Sila Empowers dash.fi to Offer E-commerce Brands a Unique Charge Card for Their Multi-Million Dollar Ad Spend

February 24, 2022 Global Fintech Series dash.fi and Sila were covered by the Fintech news desk in the Global Fintech Series.

Sila and Sequoir Create an Embedded Solution for Crypto Trading and Custody

January 13, 2022 Fintech & Finance News Sila Inc., a fintech software platform that provides payment infrastructure as a service, today announced that it partnered with Sequoir, a provider of blockchain trading and custody infrastructure, to create custom blockchain solutions for businesses. This opens up new revenue streams for banks, credit unions, fintech, and the so-called Web 3.0

PitchIt Podcast #33: Shamir Karkal of Sila

January 5, 2022 LendIt Fintech Episode 33 is a talk about Shamir Karkal and Sila’s mission to accelerate the next generation of financial innovation. Shamir is undoubtedly no stranger to the innovation space as he was one of the earliest pioneers in fintech with Simple. Sila is one of the companies helping to bridge fintech and web3.

Paradigm Shift Podcast EP8 featuring Shamir Karkal

November 14, 2021 Episode 8 Shamir Karkal on founding Bank Simple (first US neobank), how fintech has evolved over the last decade, and why he started Sila.

BANK ON IT Podcast Episode featuring Shamir Karkal

October 12, 2021 Episode 452 Well-known podcast host John Siracusa chats with Shamir Karkal about his life in fintech, the life of fintech entrepreneurs, and Shamir's startups Simple and Sila.

DeFi: a pathway forward

September 9, 2021 International Financial Law Review Alex Lipton, co-founder of Sila, and Lewis Cohen, co-founder of DLx Law, write about the promise of Decentralized Finance and how it intersects with traditional finance.

19 crypto and blockchain-focused lawyers who are inking deals, fighting lawsuits, and navigating fast-evolving regulations

July 28, 2021 Business Insider Business Insider profiles the top 19 crypto and blockchain-focused lawyers. We are proud to say that DLx Law, a firm co-founded by our co-founder Angela Angelovska-Wilson is the first one mentioned.

Sila Banks $13M to Offer Single API for Developing Financial Products, Services

July 26, 2021 TechCrunch.com Sila announced Monday it raised $13 million in Series A funding for its banking and payment platform that gives software teams tools to build the next generation of financial products and services.

Pioneering and Reimagining Fintech Innovation

April 21, 2021 Wharton Fintech Podcast A conversation with Shamir Karkal, CEO and co-founder of Sila.

Banking API Platform Sila Raises $7.7 Million on Promise of Programmable Money

April 9, 2020 Coindesk.com Read about Sila's initial funding round and growth plans.

Sila Provides FinTech Companies With an On-Ramp to Payments

October 12, 2018 Forbes Read about the early ideas that inspired the creation of Sila.

Sila Customers Making Headlines

A compilation of articles and podcasts. Some websites may require registration or a subscription to access the full story.

How This Startup Proves NFTs Can Solve Fundamental Problems In Finance

September 17, 2021 Forbes Fabrica has done what many have wanted to do for years, but largely failed to do. They have put real estate on the blockchain. Putting something “on the blockchain” via an NFT is not an end in itself. What is more important is that Fabrica solves a real problem—lowering the costs and increasing the speed of transacting in the real estate market.

Charlie Finance is Joining Chime

August 16, 2021 Chime News We’re excited to announce that the Charlie Finance team is joining Chime! This talented group, whose mission is aligned with Chime’s, will continue working on new and better ways to provide people more control over their financial lives.

Events

Take advantage to meet the Sila team at these conferences and events.

August 30-31: Dealmakers West

Location: Laguna Beach, CA Sila will be attending this conference where fintech executives gather to talk shop and make connections. Reach out to set up a meeting through connect [at] silamoney.com

June 7-9: Money 20/20 Europe

Location: Amsterdam A must event for anyone in fintech in Europe. Ensure you'll have a chance to catch up with the senior team of Sila by booking a meeting now. Reach out through connect [at] silamoney.com

May 25-26: LendIt Fintech USA

Location: New York City This very large finance and fintech event is a must to attend for anyone in the industry. It's a huge event so be prepared. Set up a meeting with the Sila team ahead of time through connect [at] silamoney.com

May 1-4: Smarter Faster Payments 2022

Location: Nashville, TN Smarter Faster Payments is Nacha's annual conference, providing unparalleled payments education. Anthony Serio, Sila's head of banking operations, will present as part of the program. His talk on demystifying ACH returns is on Sunday, May 1, 3:10pm in canal A/B. Reach out to set up a meeting through connect [at] silamoney.com

April 6-9: Bitcoin 2022

Location: Miami Beach A multi-day event all about Bitcoin in beautiful Miami - how could you miss it? Reach out to us ahead of time, if you want to set up a meeting: connect [at] silamoney.com

March 22-24: FINTECHMeetup

Location: Online Join Sila and thousands of fintech professional in an online venue that facilitates quick introductions and meetings. If you want to connect with a large number of individuals briefly, this is the place to make this important first connection

February 7-8: LendIt Fintech Nexus

Location: Miami This 2-day conference that ends with the industry awards ceremony is a must for people in fintech.

January 11: Fintech Retreat

Location: San Francisco Join us at this conference that brings together thought leaders in fintech.

November 9-10: Banking Transformation Forum

Location: Online Shamir will do a 15-min talk on how NFTs transform traditional financial markets. One of the examples is Fabrica.Land, one of Sila's customers. Check it out on November 9 at 2:15pm PT.

October 24-27: Money20/20 USA

Location: The Venetian, Las Vegas, NV Vegas is the place to be if you are anyone in fintech. A show that needs no introduction. Three days of panels, presentations, and networking opportunities. Sila has a number of people in attendance. Email connect@silamoney.com to set up a meeting.

October 19: 8th Annual Empire FinTech Conference

Location: New York, NY Shamir Karkal will be participating in the panel "New kids on the blockchain" from 2:30 - 3:40pm. Part of FinTech Week (October 18-22), this conference brings together hundreds of fintech entrepreneurs with investors and service providers that help accelerate startups.

September 21-23: Money 20/20 Europe

Location: Amsterdam, Netherlands If you are are going to this important show in Europe, watch for Sila's announcement on the big screens. And, don't miss Wednesday's agenda item, when Shamir is interviewing Kristo Kaarmann, the CEO of Wise, on stage. It's the 2:20pm headline session: How do you design for scale from the get-go?

August 11-13: Credit Suisse 4th Annual FinTech Conference

Location: Online Shamir Karkal will be participating in the “Neobank Technology Panel” on August 11, 10:30 – 11:10AM EDT This conference aims to provide an emphasis on innovative private companies and evolving trends, spanning Payments & software/ISVs, merchant acquirers & ISOs, Neo/Challenger Banks, core banking platforms, modern card/ issuer processing platforms, cross-border payments, B2B payments, online lending, InsureTech, online wealth management & trading platforms, online mortgage, and more.

August 10: Fintech Fest 1.0

Location: San Diego Harbor Join Sila and close to 1,000 DeFi and fintech professionals for an afternoon cruising San Diego Harbor. Take advantage of a packed program, while taking in the scenery. Reach out to set up a meeting through connect [at] silamoney.com

June 9-12: Consensus 2022

Location: Austin, TX Crypto and blockchain professional will descent into Austin for this extraordinary event, now in its 8th year. Visit our booth in space 502/503. Reach out through connect [at] silamoney.comn to set up a meeting ahead of time.

May 13: Future of Fintech

Location: Denver Shamir is a panelist on Friday, May 13, at 9 am, as part of the Boulder Startup Week. This panel is focused on the infrastructure of Fintech deals and will be a discussion on what is coming in the next 5-10 years in the industry.

May 3: DeFi Retreat 22

Location: San Diego Harbor Join Sila and DeFi enthusiasts for an afternoon cruising San Diego Harbor and talking shop. Take advantage of a packed program, while taking in the scenery. Reach out to set up a meeting through connect [at] silamoney.com

April 19: Empire Fintech Conference

Location: New York City A highlight of fintech week in NYC, this show is not to be missed. Listen to Shamir Karkal has he talks about "Real-time Payments - the Need for Speed" in his Masterclass. Reach out to us ahead of time, if you want to set up a meeting. connect [at] silamoney.com

March 30: ACH Fraud Panel Discussion

Location: Online Hear from the CEOs of Sardine, Alloy, Moov and Orum about ACH fraud and how to fight it. Don't miss this fascinating conversation with Shamir Karkal as the moderator.

February 15: LendIt Fintech Webinar

Location: Online Learn about best practices and pitfalls for using open source components in fintech. Sila's Isaac Avery is part of the panel that will be discussing this topic live. Register, listen and ask your questions.

October 25-27: CoinAgenda Global

Location: NY NY Hotel, Las Vegas, NV Sila will have a table at this conference that gathers international blockchain thought leaders and up-and-coming startups for the 8th year in a row. Shamir will be participating in the 4:10pm panel on Tuesday, discussing payment compliance and infrastructure platforms.

October 23: FINNOVATION Vegas

Location: The Bellagio, Las Vegas, NV Sila is creating another one of its famous INNOVATION events, this time the Saturday before Money20/20 in Vegas. There are only 150 tickets, and they are selling fast. Click on the link to learn more and register today.

September 30: SF Fintech Happy Hour

Location: San Francisco, CA If you live in the Bay Area and are interested in fintech, you know about the legendary fintech happy hours. Sila is proud to be a co-sponsor of the next event.

September 20-22: Mainnet

Location: New York, NY Look for our booth 309 on the 6th floor. This is the leading show for crypto leaders, operators, builders, and investors.

September 7-9: FinTech DevCon.

Location: Denver, Colorado Sila will be organizing a workshop on "Challenges in building neobank infrastructure” on September 8, 2:30pm-4pm Shamir Karkal will be participating in a panel discussing "Build vs. Buy" on September 9, from 12:30-1:30pm.