Interchecks Raises $50M for Real-Time Payment Platform

Interchecks has successfully closed a $50 million Series C funding round, injecting significant capital to fuel its expansion in real-time payment infrastructure. The investment, spearheaded by prominent firms including Bettor Capital, Commerce Ventures, Decades Holdings, and Thayer Street Partners, underscores the growing demand for seamless and secure money movement solutions in the digital economy.

Coinciding with this financial milestone, Interchecks is launching its innovative Account Funding Transactions (AFT) platform. This new offering dramatically broadens the company's capabilities, enabling businesses to facilitate instant account top-ups directly via debit card credentials. This move directly addresses a key friction point in digital finance, allowing for immediate fund availability and enhancing user experience across a variety of financial applications.

The AFT solution is engineered to integrate effortlessly with Interchecks' existing Pay-by-Bank services through a unified RESTful API. This integration allows clients to offer a diverse suite of deposit methods without the complexity of managing multiple, disparate systems. The platform incorporates robust, multi-layered risk management protocols, including account verification, real-time duplicate card detection, and customizable velocity controls, all designed to mitigate chargeback risks and ensure transaction integrity.

Interchecks, a veteran in the payments space with over a decade of operation, has a proven track record, having processed more than $50 billion in transactions. The company's consistent performance is highlighted by seven consecutive years of triple-digit net revenue growth and achieving profitability in 2023. Its commitment to security and compliance is evidenced by its PCI Level 1 Service Provider and SOC 2 Type 2 certifications, alongside established partnerships with global networks like Visa and Mastercard.

The newly acquired capital will be strategically deployed to accelerate technological advancements and expand the company's talented workforce. This investment positions Interchecks to further solidify its role as a critical enabler of instant payment ecosystems, supporting use cases ranging from neobank and neobrokerage account funding to cryptocurrency wallet top-ups and inter-account transfers.

“Our decade-long mission has been to revolutionize how money moves, making it faster, safer, and more controllable than ever before,” stated Dylan Massey, Co-Founder and CEO of Interchecks. “This funding empowers us to deepen our technological capabilities and grow our team, with AFT representing a significant leap forward in realizing that vision.” Jake Kleiner, Partner at Bettor Capital, added, “Interchecks’ innovative platform and strong market traction align perfectly with our investment focus, and we are excited to continue supporting their growth.”