LinkedIn·Wednesday, 5 August 2026·20d ago

Toast made $4.1 billion in financial technology revenue last year. That's 85% of their total revenue, mostly from processing payments,…

Apideck

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Toast made $4.1 billion in financial technology revenue last year. That's 85% of their total revenue, mostly from processing payments, lending, and other financial services built into their POS. Shopify? 74% of revenue comes from Merchant Solutions, including $4.2 billion in lending originations. These are software companies. They make most of their money from finance. BCG and Adyen put a number on the total opportunity: $185 billion in addressable embedded finance revenue for SaaS platforms. Less than 20% has been captured. The data from our new report (link in comments): • 2x to 5x revenue per customer from adding financial products (a16z) • ~40% annual revenue growth for SaaS companies with embedded finance, 2x the pace of digital acquirers (BCG) • Stripe Capital borrowers grew 27 percentage points faster in a randomized controlled trial • Embedded payroll: 71% customer adoption, up to 41% ACV increase (Gusto) Payments is where most platforms start, and 60%+ of North American ISVs already offer it. But lending, banking, and payroll remain below 40% adoption. That gap is where the revenue sits. 68% of practitioners we surveyed named embedded lending as their next target. Ahead of payments.