ModernFi Secures $30 Million in Series B Funding to Strengthen Position as Banking Infrastructure Provider

ModernFi, a leading technology provider for deposit management, has raised $30 million in a Series B funding round, led by Canapi Ventures and including Andreessen Horowitz, Curql, Remarkable Ventures, and Intercontinental Exchange. This brings the company's total funding to over $60 million. ModernFi empowers financial institutions to grow deposits and customer relationships through its deposit networks, which provide critical infrastructure for deposit stability and liquidity management in the post-2023 banking landscape.

New York, September 02, 2025 – ModernFi, a prominent technology provider for deposit management, has successfully raised $30 million in a Series B funding round. Led by Canapi Ventures, the round also saw participation from Andreessen Horowitz, Curql, Remarkable Ventures, and new investor Intercontinental Exchange, Inc. (NYSE: ICE). This funding brings ModernFi's total capital to over $60 million [1].

The investment reflects growing institutional recognition of ModernFi's critical role in deposit stability and liquidity management in the post-2023 banking landscape. ModernFi empowers financial institutions of all sizes to grow deposits and customer relationships through its deposit networks, which provide essential infrastructure for managing large deposits, improving liquidity access, and reducing operational burdens [1].

"Community and regional financial institutions are the engine of the American economy," said Paolo Bertolotti, CEO and Cofounder of ModernFi. "Our job at ModernFi is to support the scale and diversity of the American banking landscape so that institutions of all sizes can continue to grow and compete."

The new funding will accelerate adoption across financial institutions, expand ModernFi's team, and deepen integrations with digital banking and core providers. The company will also scale its institution success teams to support the growth of new partners [1].

Ben Jackson, President of ICE, commented, "ICE has become a leading operator of data and technology across asset classes, interacting with the full spectrum of the global banking system. Our shared focus on fostering the success and resiliency of global markets means we are excited to invest in ModernFi and be part of their journey of growth."

ModernFi's technology integrates directly into the core and digital experience of financial institutions, enabling them and their depositors to manage funds through self-service, transparent, and automated tools. The platform replaces outdated workflows with a seamless, embedded solution, helping institutions protect large deposits, improve liquidity access, and reduce operational burden [1].

The National Bank InterDeposit Company (NBID), launched in 2025, now includes banks representing more than 40 percent of the existing reciprocal deposit market. ModernFi CUSO, the first-of-its-kind network for credit unions, launched in 2024, and has already grown to serve more than 75 leading credit unions in the country [1].

Gene Ludwig, Managing Partner and Founder of Canapi Ventures, commented, "Over the past 20 years, deposit networks have grown to become a vital service for community and regional institutions, allowing them to remain competitive and thrive. ModernFi is executing on that vision with impressive speed and discipline."

With the new funding, ModernFi will continue to strengthen its position as foundational infrastructure for the U.S. banking system, supporting the growth and competitiveness of banks and credit unions nationwide [1].

References:
[1] https://finance.yahoo.com/news/modernfi-raises-30-million-series-140000598.html