ModernFi provides deposit-management infrastructure that integrates into financial institutions’ core and digital experiences to help banks and credit unions source deposits, manage balance-sheet size, and protect large deposits. Its platform offers self-service, transparent, and automated tools that replace outdated workflows and reduce operational burden. ModernFi powers two institution-owned deposit networks: the National Bank InterDeposit Company (NBID), launched in 2025, which includes banks representing more than 40% of the reciprocal deposit market, and ModernFi CUSO, launched in 2024, serving more than 75 leading credit unions. The company has raised over $60 million to date, reflecting growing institutional recognition of its role in deposit stability and liquidity management. With the latest funding, ModernFi plans to accelerate adoption, expand its team, deepen integrations with digital banking and core providers, and scale institution success teams to support new partners. ModernFi provides end-to-end deposit management built on a modern tech stack and a foundation of compliance, enabling banks and credit unions to source deposits, sweep funds, and grow and retain deposit bases. The company is launching ModernFi CUSO, a credit union service organization partially owned by credit unions, to scale the first deposit network for the credit union industry. Through the network, credit unions can offer extended NCUA insurance via participating credit unions and attract large-value member relationships including businesses, nonprofits, public funds, municipalities, and higher-net-worth individuals. The platform also enables credit unions to manage their balance sheets by sourcing funding on demand and sweeping excess liquidity. The CUSO formation and funding were led by Curql Collective and Members Development Company (MDC) with participation from ModernFi’s existing investors Canapi and Andreessen Horowitz. ModernFi says the CUSO will focus on supporting credit union partners, expanding member audiences, and helping credit unions compete more effectively against larger financial institutions. ModernFi offers community and regional banks an end-to-end deposit management platform, including a deposit network that lets banks source deposits, sweep funds, and provide additional depositor security. The company was founded in 2022 by Paolo Bertolotti and Adam DeVita. ModernFi generates revenue from basis points on deposits in its network; the CEO said 2023 was "a very good year" but declined to provide specific financials. Between its seed and Series A rounds the startup doubled its headcount, and the number of institutions it supports has grown meaningfully. The company plans to invest its new capital in growth across engineering, product development, compliance and regulatory work, and business development. Product work will include more integrations and APIs, a fuller analytics suite, asset-liability management and account-level deposit analytics to support bank CFO workflows. ModernFi provides a transparent, tech-enabled marketplace that connects banks to buy and sell deposits on demand, aiming to replace an opaque, relationship-driven wholesale funding market. The company was founded in 2022 by Paolo Bertolotti and Adam DeVita and targets U.S. banks with assets between $500 million and $100 billion. ModernFi does not charge transaction, account, or setup fees; it takes a portion of the yield banks pay on deposits. Management says the company has some revenue but declined to disclose specifics. The startup plans to use new capital to hire across engineering, bank partnerships and compliance, build partner integrations, and expand the types of funding available on its marketplace, including term deposits. Roadmap items include analytics and balance-sheet management tools to help banks eliminate counterparty risk and increase FDIC insurance coverage for depositors.

Total raised

$53M

Funding rounds

4

Latest round

Series B

Latest activity

Sep 2025