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ModernFi logo — Powering growth with end-to-end deposit management for finan...

ModernFi

Powering growth with end-to-end deposit management for financial institutions

Founded 2022 United States New York, United States 22 employees Series A Total: $23.20M Finance, Financial Services +1

General Information

Company Name ModernFi
Founded Year 2022
Location United States New York, United States
Employees 22
Industries Finance, Financial Services, Banking
Funding Stage Series A
Social

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About ModernFi

ModernFi is a finance startup founded in 2022, aiming to revolutionize deposit management for financial institutions. The company's slogan, "End-to-end deposit management for financial institutions," reflects its core mission. ModernFi offers solutions to help banks and credit unions grow, retain, and manage their deposits effectively. The innovative deposit network provided by ModernFi enables financial institutions to sweep funds, source deposits, and enhance security for depositors, driving growth and increasing balance sheet stability. The company's recent milestone includes a significant $18.70M Series A investment on 23 January 2024, showing strong support and confidence from prominent investors. Notable backers include Canapi Ventures, Andreessen Horowitz/a16z, Remarkable Ventures, as well as leading banks such as Regions Bank, Huntington National Bank, and First Horizon. This backing not only serves as a testament to ModernFi's potential but also provides a solid foundation for further growth and development. Operating within the finance, financial services, and banking sectors, ModernFi holds a strong position in the heart of the United States. With its innovative approach and strong financial backing, ModernFi is poised to make significant waves in the financial industry, catering to the evolving needs of modern financial institutions.

Business keywords: financial institutions, deposit management, banking technology, deposit network, institutional finance, balance sheet stability, security solutions, deposit growth, depository institutions, funds management

Funding Rounds & Investors (2)

View All
Funding Stage Amount Investors Lead Investors Date
Series A $18.70M 6
Canapi Ventures Andreessen Horowitz/ a16z Remarkable Ventures
Canapi Ventures, Andreessen Horowitz/ a16z +4
23 Jan 2024
Seed Round $4.50M 1
Andreessen Horowitz/ a16z
Andreessen Horowitz/ a16z
14 Feb 2023

ModernFi Alternatives & Competitors

View All Alternatives
ModernFi vs
R&T Deposit Solutions
R&T Deposit Solutions United States

Providing innovative deposit and lending solutions to US Banks and other financial institutions

Private Equity
176 employees
Finance, Financial Services
Compare ModernFi vs R&T Deposit Solutions
ModernFi vs
IntraFi
IntraFi United States

IntraFi invented reciprocal deposits & is the leading provider of FDIC-insured deposit solutions.

239 employees
Finance, Financial Services
ModernFi vs
Nymbus
Nymbus United States

Nymbus is a leading provider of banking technology solutions for financial institutions to innovate...

244 employees
Financial Services, Fintech
Also compare with: ModernFi vs StoneCastle StoneCastle View all alternatives

FAQ About ModernFi

Powering growth with end-to-end deposit management for financial institutions
ModernFi was founded in 2022.
ModernFi is headquartered in New York, United States.
ModernFi operates in Finance, Financial Services and Banking. Its work centres on financial institutions, deposit management, banking technology and deposit network.
ModernFi has approximately 22 employees.
ModernFi has completed 2 funding rounds, raising a total of $23.20M. The latest funding stage is Series A.
Top alternatives and competitors to ModernFi include R&T Deposit Solutions, IntraFi, Nymbus, Fortune Financial Solutions Group, NGEN Research. These companies operate in related industries and serve comparable markets. You can compare them side by side on Bounce Watch.
ModernFi and R&T Deposit Solutions are both companies in similar industries. Compare their funding, team size, growth signals, and market position on Bounce Watch to see which one fits your needs.

Source: BounceWatch company record for ModernFi, https://bouncewatch.com/company/modernfi, updated 30 December 2024. When citing, please name BounceWatch and link this page.

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