Interchecks Raises $50M in Series C Funding Led by Bettor Capital

The company plans to use the funds to expand its operations and support further development efforts.

Alongside the funding round, the company announced the general availability of Account Funding Transactions (AFT). This feature allows businesses to fund eligible accounts using debit credentials, with fast and secure transaction processing. This expansion extends Interchecks’ platform to support the full money movement lifecycle for its clients.

The AFT product helps solve a common challenge in digital finance: enabling fast and secure deposits while managing risk through built in controls. It allow's Interchecks clients to fund accounts in real time using debit card rails with fraud protections integrated into the transaction process.

The product is designed for use cases such as account-to-account transfers, neobanks, neobrokerages, and crypto wallet funding. It is also integrated into Interchecks’ existing Pay-by-Bank solution through a single RESTful API, allowing clients to offer multiple deposit options without needing separate integrations.

Risk controls built into AFT include account verification, real time duplicate card detection, customizable velocity limits based on industry standards and continuous monitoring for suspicious activity. These measures are designed to reduce chargeback risk before any funds are processed.

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"Interchecks continues to advance the payments ecosystem by delivering solutions that help businesses move money more quickly and securely. We're pleased to collaborate in bringing capabilities to market that support real-time funding, "said Justin Zhao, VP, Head of Visa Direct, North America.

"Since we founded Interchecks a decade ago our goal has been simple: make money move faster, more safely and with more control than anyone thought possible," said Dylan Massey, Co-Founder and CEO of Interchecks. "This raise lets us go deeper on the technology and the team, and AFT is a direct expression of what we've been building toward."

"Interchecks' differentiated platform, outstanding team, and strong commercial momentum all align perfectly with Bettor Capital's thesis of backing premier software and technology suppliers within our vertical, and we are thrilled to continue supporting the Company via its Series C fundraise, "said Jake Kleiner, Partner, Bettor Capital.

About Interchecks 

Founded in 2016 by Dylan Massey, Brandon White, Bob Chevlin, and Tom Mainville, Interchecks provides an instant payment infrastructure and fintech platform that helps businesses, financial institutions, and platforms manage money movement. The company aims to simplify and speed up the adoption of real-time payments globally. Its suite of on-demand payment options includes instant deposits, direct deposits, digital checks, paper checks, and more.

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