Darragh Buckley, founder and CEO of Increase, has acquired a substantial stake in Twin City Bank, leading to a public disclosure of the investment. The stake must exceed 10% for disclosure, placing Buckley as a major shareholder, though he did not specify the exact percentage. Industry speculation suggests he aims to leverage the bank for Increase's banking-as-a-service offerings, yet he clarified that Twin City Bank will retain its community-focused identity. Increase specializes in providing an API platform for fintech clients, enabling various financial transactions.
Darragh Buckley, founder and CEO of Increase, has purchased a significant stake in Twin City Bank, triggering federal disclosure and requiring FDIC approval.
Buckley confirmed the investment but did not disclose the size, though anything above 10% makes him a major shareholder in the bank.
Despite speculation, Buckley stated that his interests in Twin City Bank do not aim to shift it under Increase’s ownership, maintaining its community focus.
Increase offers a banking-as-a-service platform serving various fintech clients and Buckley previously served as Stripe's first employee, building a strong reputation.
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