ModernFi operates a modern deposit network that serves over 500 banks and credit unions across the United States, enabling these institutions to manage deposits, source liquidity, and raise capital through an integrated platform. Founded in 2022, the company has rapidly become foundational infrastructure for financial institutions seeking competitive advantage through access to distributed liquidity and deposit sourcing capabilities.
The platform comprises three core products: a deposit network for fund sweeping and liquidity access across member institutions, a term funding product for cost-effective capital raising, and Prospect Finder for identifying new customer opportunities. By providing access to millions in aggregate FDIC and NCUA insurance coverage across the network, ModernFi enables institutions to attract and retain large-value depositors while managing balance sheet risk - a critical capability for community and regional banks competing against larger institutions.
ModernFi's technology foundation is built on API-first, cloud-native architecture designed to eliminate friction inherent in traditional reciprocal deposit networks while maintaining compliance with banking regulations. Backed by Canapi Ventures and Andreessen Horowitz, the company has powered organic deposit growth for hundreds of institutions, with customers reporting that ModernFi's tools have become essential for both stability and expansion. The platform serves institutions of all sizes, positioning itself as foundational infrastructure for the broader banking ecosystem.
