Interchecks announced that it has raised $50 million in Series C financing and launched Account Funding Transactions (AFT), expanding its instant payments infrastructure to support real-time debit card funding and a broader range of money movement capabilities.
The financing round was led by Bettor Capital, Commerce Ventures, Decades Holdings, and Thayer Street Partners.
Alongside the funding, the company introduced the general availability of AFT, which enables businesses to fund eligible accounts using debit card credentials. The new offering is designed to provide fast and secure funding experiences and extends Interchecks’ platform across the full lifecycle of money movement.
The AFT product aims to address deposit friction in digital finance by enabling real-time account funding via debit card rails and incorporating layered risk management tools. Target use cases include account-to-account transfers, neobank and neobrokerage accounts, and crypto wallet funding.
According to the company, AFT integrates with Interchecks’ existing Pay-by-Bank solution through a single RESTful API, enabling clients to offer multiple deposit options without maintaining separate integrations.
Built-in controls include account verification, real-time duplicate card detection, customizable velocity limits based on industry benchmarks, and proactive monitoring for suspicious activity intended to help reduce chargeback exposure.
Interchecks said it has processed more than $50 billion in transactions during its 10-year history. The company reported triple-digit net revenue growth year over year for the past seven years and said it has been profitable since 2023. Interchecks is also a PCI Level 1 Service Provider and SOC 2 Type 2 certified and works with global payment networks including Visa and Mastercard.
The new capital will support continued investments in technology and team expansion.
KEY QUOTES:
“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. 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.”
Dylan Massey, Co-Founder and CEO of Interchecks
“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.”
Jake Kleiner, Partner at Bettor Capital
“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 experiences and greater flexibility for a wide range of use cases.”
Justin Zhao, VP and Head of Visa Direct North America
