Interchecks announces $16m Series B financing

By Edlyn Cardoza

Interchecks, one of the fastest-growing instant payment infrastructure and service providers, recently announced a $16 million Series B fundraise. The funding round was led by Senator Investment Group and Standard Investments, with participation from Bettor Capital, Commerce Ventures, Nuvei, and Shift4 Ventures. The funding will further Interchecks’ mission to power instant money-movement for FinTech, online gaming, and digital asset ecosystem applications.

Founded with the mission to accelerate the adoption of real-time payment technology, Interchecks is emerging as a next-gen leader in the FinTech ecosystem. The Company provides APIs to innovators looking to wrap instant payments into their applications, enhancing user experience, lowering costs, and reducing time spent on back-office reconciliations. Driven by strong bank relationships, increased network connections, new product launches, and customer expansion and retention, the Company experienced explosive year-over-year growth.

The new capital raised will expand the Company’s ability to support Visa Direct, RTP, stablecoins, compliance, and significantly grow headcount.

“Interchecks had an exceptional 2021 marked by continued success and remarkable growth within FinTech and Online Gaming as new states continue to legalize sports betting,” said Dylan Massey, co-founder and CEO of Interchecks. “The caliber of investors in our Series B solidifies Interchecks’ position as one of the most innovative and trusted platforms in payments. Early bets we made on people, markets, and bank partners proved valuable, and we couldn’t be more excited to enter the next phase of our growth.”

“Interchecks’ dedication to instant payments, and its ability to capture a significant share of online gaming by signing accounts like FanDuel at such an early stage in their development, is unmatched,” said A.J. Murphy, Head of Markets at Standard Investments. “We’re proud to work with their team as they usher in the next generation of payment technology.”

Senator’s FinTech Sector Head Joe Armao added, “Interchecks is winning with vision, speed, and execution. Interchecks’ lean team impressively punches above their weight, and we’re thrilled to support their next phase of growth and scaling.”