# Pinwheel

> Pinwheel is a New York-based fintech that builds the payroll-data and income connectivity layer behind a fairer financial system. Its APIs and embedded tools let banks, credit unions, and fintechs offer one-click direct deposit switching, income and employment verification, and bill management - helping institutions win and keep 'primacy' (becoming the account where a customer's paycheck lands). Pinwheel is one of the few players in the space operating as an FCRA-compliant Consumer Reporting Agency, and it connects to roughly 1,800+ payroll and HR platforms covering nearly all U.S. workers.

- **Founded:** 2018
- **Headquarters:** New York, New York, United States
- **Founders:** Kurt Lin (Co-Founder & CEO), Curtis Lee (Co-Founder), Anish Basu (Co-Founder)
- **Team size:** ~70 employees at Series B (2022), roughly two-thirds engineers; planned to triple headcount
- **Products:** Deposit Switch / Switch Kit, Verify (Income & Employment), Bill Switch / Bill Navigator / Bill Manager, Connected Accounts, Taxes
- **Notable:** Raised $50M Series B at a $500M valuation in January 2022 (total funding ~$77M-$84M)., One of the only payroll-data providers operating as an FCRA-compliant Consumer Reporting Agency (CRA)., Became Plaid's preferred provider for direct deposit switching.

## Products & services

- **Deposit Switch / Switch Kit** — Embedded one-click (and credential-less) direct deposit switching that lets a consumer reroute their paycheck to a new account in seconds, helping banks win primacy and activate accounts.
- **Verify (Income & Employment)** — Real-time income and employment verification pulled directly from the source payroll system, used for lending, underwriting, and onboarding.
- **Bill Switch / Bill Navigator / Bill Manager** — Tools to detect, switch, and manage recurring bills and subscriptions, complementing deposit switching for full account activation.
- **Connected Accounts** — Real-time monitoring of financial and payroll data for ongoing customer lifecycle and engagement use cases.
- **Taxes** — Retrieval of payroll tax forms and related documents directly from payroll providers.

## Achievements

- Raised $50M Series B at a $500M valuation in January 2022 (total funding ~$77M-$84M).
- One of the only payroll-data providers operating as an FCRA-compliant Consumer Reporting Agency (CRA).
- Became Plaid's preferred provider for direct deposit switching.
- Reports $10B+ in deposits processed and 10M+ transactions completed.
- Connectivity to ~1,800+ payroll and HR platforms, covering nearly all U.S. workers.
- Varo Bank became the first customer to launch the full Switch Kit (account activation + bill switching) in January 2026.

## Latest updates

- **2026-01** — Varo Bank became the first customer to launch Pinwheel's full Switch Kit, combining direct deposit switching with bill payment switching for end-to-end account activation.
- **2025-09** — Expanded Bankjoy collaboration to include the Switch Kit for credit unions and community banks.
- **2025-06** — Expanded Jack Henry partnership to add Switch Kit and Bill Navigator on the Jack Henry digital banking platform.
- **2025-04** — Announced integration with Q2's Digital Banking Platform via the Q2 Partner Accelerator Program.
- **2024-11** — Named preferred Direct Deposit Switching provider by MANTL.

## Links

- Website: https://www.pinwheelapi.com
- LinkedIn: https://www.linkedin.com/company/pinwheelhq/
- Twitter/X: https://twitter.com/PinwheelAPI
- Facebook: https://facebook.com/getpinwheel

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Profile page: https://yespress.io/pinwheel
Published by YesPress — https://yespress.io
Last updated: 2026-06-13