Darragh Buckley, founder of the banking-as-a-service startup Increase, acquired a controlling stake of just over 10% in Twin City Bank, a community bank based in Longview, Washington. The deal closed in mid-2025 and received the necessary approvals from the FDIC and Federal Reserve.
Unlike many fintech entrepreneurs who acquire banks to integrate them into their platforms, Buckley plans to keep Twin City Bank operating independently from Increase. This move bucks the trend where fintechs convert banks into sponsor banks to streamline regulatory compliance and expand their own services.
Increase, launched in 2020 after Buckley left Stripe, provides developer-friendly APIs for payments and deposits, serving clients such as Ramp and Check. Despite processing over $100 billion annually, the company remains lean with about 30 employees. Buckley cited concerns over risks seen in other banking-as-a-service partnerships as the reason for maintaining a clear separation between Increase and Twin City Bank.
This is Buckley’s third investment in a Washington state community bank, and he also holds a board position at Washington Business Bank. Twin City Bank continues its focus on community banking without transitioning into a fintech vehicle.
