Column powering breakout fintech apps

Column’s fastest path to bank scale has been to sit underneath breakout fintech apps rather than build a consumer brand of its own. When Brex and Mercury move checking accounts, deposits, cards, wires, and ACH onto Column, Column earns on both the money parked in those accounts and the payment activity flowing through them, which helps explain why revenue could jump from $48.0M in 2024 to $153.1M in 2025.1 2 3

• Column is not acting like a software middleman that introduces fintechs to outside banks. It owns the bank charter and API stack, so customers plug directly into Column to open FDIC insured accounts, send wires and ACH, and issue cards, with Column taking usage fees and a share of interchange.2 4
• The customer mix matters. Brex and Mercury are large, fast growing fintechs with heavy deposit balances and transaction volume, so one win can add both interest income and fee income at once. Mercury alone was estimated at $500M annualized revenue in 2024 with $20B in deposits, showing the scale of activity Column can sit behind.2 3
• This also sets Column apart from peers. Lead Bank is another charter plus API player, but it is more tied to lending programs like Affirm and Revolut. Column is more anchored in neobank and startup finance workflows, which is why its revenue mix is closer to even between interest income and non interest income.2 5

The next phase is likely deeper concentration around a small set of high quality fintech partners. If more large platforms leave fragile sponsor bank setups for chartered API banks, Column can keep compounding deposits, payment volume, and card spend without needing to sign hundreds of smaller programs.2 4 5