About Modern Finance
Modern Finance is a Financial Services company based in New York (United States) founded in 2016 by Paolo Bertolotti and Adam DeVita. An online marketplace connects banks for deposit liquidity exchange. Modern Finance has raised $57.43 million across 6 funding rounds from investors including Huntington National Bank, Regions Bank and First Horizon National Corporation. Its chief executive, as recorded, is Paolo Bertolotti. Modern Finance offers products and services including Deposit Network, Term Funding, and Prospect Finder. Its focus areas include FinTech, Banking Tech, Savings Comparison Platform and Alternative Lending. Its legal entity is MODERNFI, INC. Its competitors include NerdWallet, LendingTree and SmartAsset; 2 of its 3 listed competitors have raised funding.
Company details
Modern Finance was founded in 2016 in New York, United States, within the financial technology sector. An online platform is operated to connect banks and financial institutions, enabling those with excess deposits to supply liquidity to entities facing shortages. Services include an integrated dashboard for managing accounts, transactions, bank details, inboxes, and settings, supporting efficient inter-institutional deposit flows.
- Headquarters New York, United States
- Founders Paolo Bertolotti, Adam DeVita
- SectorsFinancial Services
- Email••••••••
- Website modernfi.com
- Social LinkedIn YouTube
- Legal Name Modernfi, Inc.
- Total Equity Funding$57.43M (USD)
in 6 rounds
- Latest Funding Round$29.13M (USD), Series B
Jun 2025
- InvestorsHuntington National Bank
& 18 more
Products & Services of Modern Finance
Modern Finance offers a comprehensive portfolio of products and services, including Deposit Network, Term Funding, and Prospect Finder.
Tool to attract large-value depositors and manage balance sheets.
Software for sourcing cost-effective term funding on demand.
Platform to identify and contact new large-value accounts.
Apps and channels of Modern Finance
its YouTube channel ModernFi has 10 subscribers and 4 videos.
Videos from Modern Finance
The most watched videos on Modern Finance's YouTube channel, ModernFi (10 subscribers). Click a video to play it here.
More on ModernFi.
Funding Insights of Modern Finance
Modern Finance has successfully raised a total of $57.43M across 6 strategic funding rounds. The most recent funding activity was a Series B round of $29.13 million completed in June 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $57.43M
- Total Rounds 6
- Last Round Series B — $29.13M
- First Round $100,000
(Jan 2022)
- Investors Count 19
All 6 funding rounds of Modern Finance with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun 2025 | $29.13M | Series B | – | – | – |
| Nov 2024 | Series A | – | – | ||
| Jul 2024 | $5M | Series A | – | Curql | – |
| Jan 2024 | $18.7M | Series A | – | Canapi Ventures | |
| Feb 2023 | $4.5M | Seed | – | a16z | – |
| Jan 2022 | $100,000 | Seed | – | Entrepreneurs Roundtable Accelerator | – |
19 investors in total: 19 institutional.
Investors in Modern Finance
Modern Finance has secured backing from 19 investors, including institutional and venture fund investors. Prominent investors backing the company include Huntington National Bank, Regions Bank and First Horizon National Corporation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Curql is focused on connecting credit unions with fintech investments. | curql.com | Des Moines, United States | ||
Investing in B2B software and fintech for the financial services economy. | canapi.com | |||
Venture capital investments in technology sectors are handled by Andreessen Horowitz. | a16z.com | |||
Startups are accelerated in fintech, SaaS, climate, and various sectors. | eranyc.com | New York, United States | ||
| georgiasown.org | ||||
Operates as an urban credit union offering financial products to community members. | 1955 | safefed.org | Sumter, United States | |
Provides banking services including checking accounts, savings, loans, and mortgages for members. | 1957 | servicecu.org | Portsmouth, United States | |
| suncoast.com | ||||
Early-stage investments in transformative and climate-focused companies are made by Remarkable Ventures. | remarkable.vc | |||
Commercial banking services are provided across the United States. | 1866 | huntington.com | Shelton, United States |
Investor details for Modern Finance
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of Modern Finance
18 people are tracked at Modern Finance (10 in leadership, 8 in team).
| Name | Role | Group |
|---|---|---|
Paolo Bertolotti | Co-Founder & CEO | Leadership |
Adam DeVita | Co-Founder & COO | Leadership |
Bennett Johnsen | Chief Compliance Officer & Co-Founder | Leadership |
Scarlett Hueston | Regional Director - Institution Success | Leadership |
Will Cameron | Chief Revenue Officer | Leadership |
Tanner Scarborough | Area Vice President Of Sales | Leadership |
Mark Ward | Vice President Of Product And Operations | Leadership |
Tony Karalekas | Managing Director, Sales | Leadership |
Michael Mutscheller | VP Of Revenue | Leadership |
David Curtis | Senior Regional VP | Leadership |
Lynne Lu | Recruiter | Team |
Matt Linehan | Founding Product Manager | Team |
Brendan Quinn | Business Operations & Strategy | Team |
Mike Stone | Senior Account Executive | Team |
Anna Kang | Strategy and Business Operations | Team |
Christopher Vargas | Account Executive | Team |
Katherine Heaney | Senior Account Executive | Team |
Chelsea Jones | Founding Recruiter | Team |
Complete people profiles for Modern Finance
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Timeline of Modern Finance
3 dated milestones of Modern Finance across 9 years, from founding to its latest funding, stage changes and deals.
- Founded Modern Finance is founded.
- Funding First funding round of $100K.
- Funding Latest funding round, Series B, of $29.1M.
Competitors of Modern Finance
Modern Finance has 3 listed competitors in our database, 2 of them funded. They include NerdWallet, LendingTree and SmartAsset.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| nerdwallet.com | 2009 | San Francisco, United States | $123.3M | App-based comparison platform for financial products | ||
| lendingtree.com | 1996 | Charlotte, United States | 870 | Provider of a platform for loan and other consumer financial product comparison | ||
| smartasset.com | 2012 | New York, United States | $161.43M | Financial products are compared online to offer data-driven advisory services. |
Detailed competitors of Modern Finance
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
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- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Modern Finance
The website of Modern Finance (modernfi.com) receives about 9.5K visits a month.
- Monthly visits9.5K
▲ 24.6% vs previous month
Top companies in Banking & FinTech Platforms
3 companies that operate in the same segment as Modern Finance (Banking & FinTech Platforms) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Online business banking and financial workflow tools are provided. | 2010 | San Francisco, California, United States | USD 546 M | USD 2.71 M | 1,807 | |
Digital banking services are offered to individuals via mobile apps. | 2012 | San Francisco, California, United States | USD 3.15 B | USD 1.96 B | 2,516 | |
Digital sustainable banking services are offered to consumers. | 2013 | Los Angeles, California, United States | USD 865 M | 237 |
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Related news about Modern Finance
Complete news archive for Modern Finance
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Frequently Asked Questions about Modern Finance
Modern Finance was founded in 2016 and raised its 1st funding round 6 years after it was founded.
Modern Finance is headquartered in New York, United States. It is registered at New York, New York, United States.
Paolo Bertolotti is the CEO of Modern Finance, as recorded in our data. They have also founded this company.
Modern Finance is a funded company, having raised a total of $57.43M across 6 funding rounds to date. The company's 1st funding round was a Seed of $100K, raised on Jan 2022.
Modern Finance was founded in 2016 in New York, United States, within the financial technology sector. An online platform is operated to connect banks and financial institutions, enabling those with excess deposits to supply liquidity to entities facing shortages. Services include an integrated dashboard for managing accounts, transactions, bank details, inboxes, and settings, supporting efficient inter-institutional deposit flows.
Modern Finance's top competitors include NerdWallet, LendingTree and SmartAsset.
Modern Finance offers Deposit Network, Term Funding, and Prospect Finder.
Modern Finance has 19 investors. Key investors include Huntington National Bank, Regions Bank, First Horizon National Corporation, Members Development Company, and ABNB Federal Credit Union.
Modern Finance operates through Modernfi, Inc..