Another fintech unicorn was born today as online banking platform and solutions provider Unit (unit.co) raised $100 million, at a valuation of $1.2 billion.

Forex industry observers will note that Unit’s founders Itai Damti, who acts as the CEO of Unit, and Doron Somech (CTO) were among the founders of FX/CFDs platform and tech provider Leverate. Both left the company in 2015-16, and rejoined up about three years later to found Unit. Leverate continues to be run by Ran Strauss, one of the company’s other co-founders.

The Unit round was led by venture capital firm Insight Partners, with participation from existing investors including Accel, Better Tomorrow Ventures, Aleph, Flourish Ventures, and TLV Partners. New investors Moving Capital and Stepstone also invested in round.

Unit is building a platform to power the next generation of financial services. The company’s banking-as-a-service API helps financial institutions launch new banking products in weeks – not years. Unit’s Dashboard and suite of APIs, SDKs, and white-labeled UIs enables developers to build financial features into their product — cards, accounts, payments, lending, and more.