Unit retweetledi
Today, we’re announcing that we’ve doubled our annual transactions volumes in the last 12 months, and reached $100 billion.
This is an especially sweet moment for us. It took us 5.5 years to reach the first $50 billion.
What I’m most proud of is the character and unusual choices that led to it.
We chose the most valuable problems, not the easiest ones. We saw huge value in building a system DEEP and BROAD enough to replace 10-15 vendors that banks + fintech programs typically use, starting with a core system. Many people that had 10x our knowledge tried to help and tamper our ambitions: “why build a core system?”, “why operations and not just tech?”, “why not partner with a vendor that already built a credit card ledger?”
Today, Unit could be installed on any bank - immediately. There is no dependency on legacy tech. All money movement happens directly with the Federal Reserve and card networks. Banks and the programs they power do business at scale, with 10x better security, oversight, and modularity.
We built heads-down while there was widespread skepticism. Until recently, the category of modern financial infrastructure has been attacked non stop. For years. People questioned it from every single angle: is it sound? Valuable? Sustainable? We weren’t phased. We had the field context that many skeptics didn’t have, and we saw the proof points every day.
We made changes along the way when they were needed. We took no shortcuts and turned down high-risk deals that could make us bigger.
Importantly, we put ourselves on an independent financial trajectory, so that we don’t have to take shortcuts OR depend on the opinions of others.
Proud of our team for the hard work and character. Grateful to our customers (old and new) that placed trust in us. And to millions of end-users who have access to better financial services... without knowing that Unit exists 😉
Back to work.
unit.co/blog/100-billi…
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