Where is Fragment headquartered?

Fragment is headquartered in New York, United States. The company has a team of 11-50 people.

What does Fragment do?

Fragment operates in the AI in Fintech sector. Fragment is a New York-based financial system for AI agents: a real-time, double-entry ledger, payments and reconciliation API that lets agents bill, pay and account for money safely. Makes money programmable. Every transaction is checked with double-entry accounting (debit, credit, match) before it executes. This lets AI agents and engineering teams automate billing, payments, reconciliation and close without balance errors.

When was Fragment founded?

Fragment was founded in 2021. It is based in New York, United States.

Who is the CEO of Fragment?

Thomas Neckel is the CEO of Fragment. The company was founded in 2021.

Where is Fragment located?

Fragment is headquartered in New York, United States.

What funding stage is Fragment at?

Fragment is currently at the Series A stage.

How many employees does Fragment have?

Fragment has approximately 11-50 employees.

Fragment

Category: AI in Fintech

Fragment is a New York-based financial system for AI agents: a real-time, double-entry ledger, payments and reconciliation API that lets agents bill, pay and account for money safely. Fragment was founded in 2021. The company is led by Thomas Neckel. Based in New York, United States. Team size: 11-50. Total funding raised: $22.8M. Latest round: Series A. Key investors include FirstMark, BoxGroup, Stripe, Avid Ventures, Gradient Ventures, Jack Altman, Zach Perret, Gokul Rajaram, Dara Khosrowshahi, Emilie Choi, Scott Belsky, Cristina Cordova.

Founded: 2021
Headquarters: New York, United States
Team size: 11-50
Total funding: $22.8M

Value proposition

Makes money programmable. Every transaction is checked with double-entry accounting (debit, credit, match) before it executes. This lets AI agents and engineering teams automate billing, payments, reconciliation and close without balance errors.

Products and solutions

Ledgers (configurable-schema, strongly consistent double-entry ledger API), Payments (move and track money in one API call), Recon (turns bank files, invoices, docs and code into reconciled financial objects), Typesafe schema-generated SDKs, FRAGMENT MCP server so agents can read and write payments, Roles & Permissions, multi-currency and custom currencies, reporting and S3 export, AWS regional deployments

Unique value

The control plane for financial code. The agent decides what to do, and Fragment's ledger enforces financial correctness, so every transfer is balanced and every balance is correct.

Target customer

Fintechs, vertical AI/SaaS companies, marketplaces, brokers and platforms that need to track customer balances and money movement. Primarily engineering and finance teams building agent-driven financial workflows.

Industries served

Fintech, Healthcare (patient billing, claims reconciliation), Logistics (fuel cards, driver payouts), Insurance, Marketplaces, Spend management, Retirement and wealth, Energy, Education

Technology advantage

A double-entry ledger built for engineers, with schema-as-code fund-flow modeling. It adds strong consistency, low-latency balance reads and high-throughput writes, entry conditions for authorizing transactions from the ledger, schema-generated typesafe SDKs, and native MCP integration for AI agents. The company is SOC 2 and HIPAA certified.

How they differentiate

Unlike Modern Treasury, which is payment-operations-led, or low-level ledger databases like TigerBeetle and Formance, Fragment pairs an engineer-friendly ledger with fund-flow schema design, payments and reconciliation. It has repositioned as agent-native financial infrastructure, using MCP and ledger-enforced guardrails so AI agents cannot mishandle money.

Main competitors

Modern Treasury, Formance, TigerBeetle (also Twisp, Blnk)

Key partnerships

Stripe (strategic investor), AWS (regional deployments), MCP integration for AI agent frameworks

Notable customers

Ramp, Whop, Pleo, Bill, AtoB, Basic Capital, Odyssey, Nomos, TruckSmarter, Nala

Major milestones

2021: founded in New York by Thomas Neckel and Omi Chowdhury, with a pre-seed round from Gradient Ventures. Jan 2024: named to GGV Fintech 50. Jul 2024: public launch and $9M seed round (Stripe, BoxGroup, Avid Ventures). Aug 2025: named to Generalist Future 50. Jul 2026: launched the FRAGMENT MCP server. Oct 2026: $12M Series A led by FirstMark, bringing total funding to about $23M.

Growth metrics

About 50-60 paying customers as of October 2026 (per reported Series A coverage). Pleo uses Fragment to track historical balances for its 30,000 customers. About 12 team members are listed on the About page.

Market positioning

Developer-first ledger-as-a-service that has repositioned as 'the financial system for agents': accounting controls and correctness infrastructure for agentic commerce and vertical AI businesses.

Geographic focus

United States primarily, with customers in Europe (Pleo) and Africa-focused remittance (Nala)

About Thomas Neckel

Co-founder & CEO, Cove.io (private investment platform); CEO & Co-founder, SCUID (identity management, acquired by CA Technologies in 2014). Fragment is his third startup with co-founder Omi Chowdhury.

Latest news about Fragment

Fragment raises $12 million Series A for AI-agent accounting controls

More AI in Fintech companies

Official website: https://fragment.dev