"ModernFi Raises $18.7M to Boost Bank Deposit Growth"

ModernFi, a company providing deposit management capabilities to community and regional banks, has secured $18.7 million in Series A funding led by Canapi Ventures, with participation from Andreessen Horowitz, Remarkable Ventures, and several banks. The funding will be used to invest in growth, including expanding the team, new product development, compliance, and regulatory adherence. ModernFi aims to support the entire lifecycle and workflow for bank CFOs, with a focus on integrations, API development, analytics, and asset liability management.