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ModernFi Welcomes Rodney Hood, Former NCUA Chairman, to Its Board as It Launches the First Deposit Network for Credit Unions

ModernFi Welcomes Rodney Hood, Former NCUA Chairman, to Its Board as It Launches the First Deposit Network for Credit Unions
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Large regional banks invest in startup deposit network

Large regional banks invest in startup deposit network
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ModernFi secures $18.7M to help banks grow their deposit base

A lot has happened in banking over the past year, including the Silicon Valley Bank collapse, and that’s enabled companies like ModernFi to step in and provide other solutions. The company provides community and regional banks with end-to-end deposit management capabilities, including a deposit network so bank customers can grow, retain and manage their deposit base by sourcing deposits, sweeping funds and providing additional security to depositors. In fact, ModernFi, founded in 2022 by Paolo Bertolotti and Adam DeVita, raised $4.5 million in a seed round a month prior to the SVB news. ....

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ModernFi Raises $18.7M in Series A Funding

FinSMEs is the financial news site dedicated to covering venture capital, private equity, and merger and acquisition deals in real time! ....

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Appetite for expanded FDIC insurance is strong. Will it last?

IntraFi, R&T Deposit Solutions and other companies help banks capture and insure the entirety of their customers' balances a cogent need in the aftermath of SVB. ....

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