+26%

est. 2Y upside i

FinTech

Enterprise-grade banking APIs

Rank

#252

Sector

Fintech

Est. Liquidity

~3Y

Data Quality

Data: Low

Increase presents a strong equity opportunity for a job seeker, driven by its position in a massive and rapidly growing fintech market ($7.2T TAM, ~30% YoY growth) and its proven profitability in 2025.

Last updated: March 10, 2026

Bull (40%)+300%

Increase leverages its strong regulatory moat and direct payment network connections to become a dominant player in embedded banking and payments. Strategic partnerships and product expansion into new verticals drive annual revenue to over $1.5B by 2028, justifying a $10B+ valuation at a 10x+ revenue multiple, significantly above the current $2.5B.

Base (40%)+75%

Increase maintains its strong growth trajectory in core embedded payments and banking, fending off competitors like Column.com and Open Bank Project. Revenue grows to approximately $750M by 2028, leading to an acquisition or IPO at a $4.375B valuation, a solid 1.75x return on the current valuation.

Bear (20%)-70%

Increased competition from well-funded incumbents like Stripe or traditional bank core providers (FIS, Fiserv) leads to pricing pressure and slower market penetration. Regulatory changes or a macroeconomic downturn also impact payment volumes. Growth stalls, leading to a down round or acquisition at a $0.75B valuation, resulting in a significant loss for common stock holders due to liquidation preferences.

Est. time to liquidity~3.0 years

Preference Stack Risk

moderate

Investors hold an estimated $300M in liquidation preferences ahead of common stock, representing 12% of the assumed $2.5B current valuation.

Dilution Risk

moderate

While profitable, future growth initiatives or market shifts could necessitate additional funding rounds, leading to further dilution.

Secondary Liquidity

limited

There is no explicit information about active secondary markets or tender offers for Increase's equity, suggesting limited liquidity for employees currently.

Questions to Ask at the Interview

Strategic questions based on Increase's data — designed to show you've done your homework.

  • 1

    “Given the 'medium' incumbent threat from traditional bank core providers like FIS and Fiserv, how does Increase plan to continue enabling banks without eventually being marginalized or acquired by these larger players?”

  • 2

    “With monthly payment volume tripling and deposits growing fourfold, what are the key strategic initiatives to sustain this rapid growth and expand market penetration beyond the current ~1% of SAM?”

  • 3

    “Considering the company's profitability in 2025 and its current stage, what is the anticipated timeline and preferred path for a liquidity event (e.g., IPO or acquisition) for employees, and how is the company managing potential future dilution?”

Community

Valuation Sentiment

Our model estimates +26% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.