Who owns Mela?

traditional · Delaware, US · Partner-bank model · custody: Custodial

short answerMela is not itself a bank. It runs on a partner-bank (BaaS) model, where a licensed sponsor bank holds the deposits behind the app while Mela builds the product and interface.

Is Mela a licensed bank?

No — it runs on a sponsor bank (BaaS model). License detail: US account via a BaaS partner bank (sponsor not publicly named); Mela Finance Inc. is a National Bank of Ethiopia licensed money transfer institution.

Where is your money held?

Custody model: Custodial.

No sponsor bank or infrastructure provider is publicly documented for Mela yet. Know one? Suggest it.

Who's behind Mela?

Mela was founded by Aelaf Mideksa (2024), headquartered in Delaware, US.

Is my money safe with Mela?

Deposits are held by Mela's sponsor bank, so any insurance flows through that bank rather than Mela. Check which sponsor holds your balance and whether it is passed through for per-customer coverage.

go deeperSee the full Mela profile with every verified field, or Mela alternatives. Raw fields: data.json.

Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.