ModernFi, a leading deposit management technology provider, announced a $30 million Series B funding round. Canapi Ventures led the investment. Andreessen Horowitz, Curql, Remarkable Ventures, and new investor Intercontinental Exchange (ICE) also participated.
This round brings ModernFi's total funding to over $60 million. The investment strengthens ModernFi's position as critical infrastructure for deposit stability and liquidity management in the U.S. banking system. ModernFi empowers financial institutions of all sizes.
Expanding Deposit Management Solutions
ModernFi enables banks and credit unions to grow deposits and manage balance sheet size. Its technology integrates directly into core and digital banking experiences. Consequently, this platform replaces outdated workflows, offering self-service and automated tools. For instance, it helps institutions protect large deposits and improve liquidity access.
ModernFi operates two institution-owned deposit networks.
The National Bank InterDeposit Company (NBID) launched in 2025. It includes banks representing over 40 percent of the existing reciprocal deposit market. Furthermore, ModernFi CUSO, a network for credit unions, launched in 2024. It now serves more than 75 leading credit unions. These networks reshape how financial institutions manage and protect deposits at scale, contrasting with older models like those pioneered by Promontory Financial Group.
The new capital from this ModernFi Series B will accelerate adoption across financial institutions. The company plans to expand its team and deepen integrations with digital banking and core providers, competing with broader financial technology platforms like Fiserv. ModernFi will also scale its institution success teams to support new partners in deposit management.
