ModernFi, a New York-based tech-enabled marketplace that allows banks to exchange deposits on demand, raised $4.5M in Seed funding.
The round was led by Andreessen Horowitz with participation from industry leaders across tech, finance, and government.
The company intends to use the funds to to hire across engineering, bank partnerships, and compliance and to enhance its product offering by deepening its integrations with bank partners and expanding the types of funding available through its marketplace.
Led by CEO Paolo Bertolotti, ModernFi provides banks of all sizes with a deposit marketplace to source funding on demand or sweep excess deposits to earn potential revenue. The company currently works with U.S.-based banks ranging in size from $500 million to $100 billion in assets.
FinSMEs
14/02/2023