ModernFi secures $18.7m to revolutionize the world of banking.

ModernFi, a deposit network firm, has raised $18.7m in a Series A funding round. Led by Canapi Ventures, the funding round also saw participation from investors including Andreessen Horowitz, Remarkable Ventures, and several leading banking institutions. ModernFi aims to revolutionize the banking experience for community and regional banks by offering a deposit network that allows these institutions to manage and grow their deposits effectively. The company plans to use the funds to strengthen its deposit network and attract larger-value depositors for participating banks. ModernFi stands out for streamlining operational processes for banks and clients, providing seamless integration into online banking. With this funding round, ModernFi’s total capital raised to date exceeds $23m.