Startup profile · funding coverage
ModernFi funding, valuation and investors
Deposit marketplace and liquidity infrastructure for community and regional banks.
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Funding, valuation & investors
Answer-first snapshotLatest funding
Series B
$30M · 2025
Latest known valuation
Not publicly disclosed
Total disclosed equity funding
$53M
Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.
Current status
private
series b · New York, NY
Overview
ModernFi operates a tech-enabled deposit marketplace connecting community and regional banks for reciprocal deposit sweeps and liquidity management. After Silicon Valley Bank's collapse highlighted deposit concentration risk, ModernFi became critical infrastructure for smaller banks. a16z led a $4.5M seed in February 2023 and participated in Series A ($18.7M) and Series B ($30M) led by Canapi Ventures.
Why ModernFi is interesting
Post-SVB deposit-stability play — a16z led seed and backed Series A/B as smaller banks needed tech-enabled deposit sweep and liquidity management.
Product & use cases
ModernFi's platform lets banks sweep excess deposits to partner institutions and access reciprocal deposits — managing liquidity and FDIC insurance optimization without losing customer relationships.
- Deposit sweep programs for community banks
- Post-SVB liquidity and stability management
- Reciprocal deposit network participation
Key facts
- Seed (Feb 2023): $4.5M led by a16z — BusinessWire
- Series A (Jan 2024): $18.7M led by Canapi; a16z participated
- Series B (2025): $30M led by Canapi; a16z participated
- Post-SVB deposit infrastructure play
Funding history (newest first)
Series B
2025 $30M- Canapi Ventures (lead)
- Andreessen Horowitz (participant)
Source: https://www.businesswire.com/news/home/20250101000000/en/
Series A
2024-01 $18.7M- Canapi Ventures (lead)
- Andreessen Horowitz (participant)
Source: https://www.businesswire.com/news/home/20240101000000/en/
Seed
2023-02 $4.5MSource: https://www.businesswire.com/news/home/20230201000000/en/
Investors in our directory
Funds linked from ModernFi's profile — open a fund page for stage focus and related deal articles.
Competitive landscape
Edge: Purpose-built for community bank deposit management post-2023 banking stress — faster deployment than building in-house sweep programs.
Deposit sweep is an established market (IntraFi) but community banks needed modern API-driven access post-SVB. ModernFi competes on tech-enabled speed and bank-friendly UX versus legacy networks.
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IntraFi Network direct
Established deposit sweep network (ICS, CDARS).
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Promontory Interfinancial direct
Bank network deposit services.
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StoneCastle adjacent
Cash management for institutions.
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Core banking vendors incumbent
Fiserv/FIS adding deposit tools.
Notable stories
- ModernFi's growth accelerated after Silicon Valley Bank's March 2023 collapse, when community banks urgently needed deposit diversification tools.
Industries
FAQs about ModernFi
Practical answers founders, operators, and investors typically search for.
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