$140-300k
+ Equity
Deposit management for financial institutions
Open for applications
Deposit management for financial institutions
1-20 employees
Open for applications
$140-300k
+ Equity
1-20 employees
To increase the stability and performance of US financial institutions and the communities they serve.
Rising interest rates and the recent collapse of prominent banks have triggered a mass exodus of deposits from smaller institutions. This "deposit runoff" has left community and regional banks scrambling to retain funds, impacting their growth and stability.
ModernFi offers an end-to-end deposit management platform to address this very issue. Its "deposit network" connects smaller banks with high-value depositors, facilitating deposit sourcing, automated fund sweeping, and enhanced security for depositors. This network acts as a lifeline for smaller banks, helping them attract and retain crucial funding.
Recent investment will fuel the company's expansion in several areas, with the ultimate goal of becoming a one-stop shop for bank CFOs, offering a comprehensive suite of solutions for managing the entire deposit lifecycle. With strong market demand and a clear roadmap for expansion, ModernFi appears well-positioned to navigate the shifting landscape of banking and become a vital resource for community and regional banks in the years to come.
Kirsty
Company Specialist at Welcome to the Jungle
Few candidates hear
back within 2 weeks
Jan 2024
$18.7m
SERIES A
Feb 2023
$4.5m
SEED
Civic Center, New York, NY
Paolo Bertolotti
(CEO)Graduated from Massachusetts Institute of Technology with a PhD in Complex Systems and Statistics. They are currently a Lecturer in Statistics at Columbia University.
Adam DeVita
(COO)Graduated from Columbia University with a Bachelor's Degree in Economics and Mathematics. Previously a Product Manager at Citi.
Bennett Johnsen
(Chief Compliance Officer)Graduated from Princeton University with a Degree in Economics and Finance. Previously worked at Texas Exchange Bank as a Chief Credit Officer and Chief Financial Officer.
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