Maximum has emerged from stealth with a $30 million Seed financing to build an AI-native operating system designed to replace the fragmented legacy infrastructure still powering much of the U.S. banking industry. The round, which the company described as one of the largest Seed financings in fintech, was led by CRV, with participation from Pear VC, Restive, Plug and Play Ventures, Anthemis, and other investors.
The Miami-based company was founded by Randy Fernando, a repeat fintech entrepreneur who previously founded Vault, which was sold to Acorns in 2017, and Power, which was sold to Marqeta in 2023.
Maximum is targeting the core infrastructure layer of banking, where many institutions continue to operate on systems developed decades before mobile banking, instant payments, digital currencies, and artificial intelligence became significant parts of financial services.
Of nearly 5,000 banks in the U.S., Maximum says more than 70% still run on legacy core systems built during the last century. These older platforms can make it more difficult and expensive for banks to launch products, automate operations, respond to emerging threats, and meet rapidly changing customer expectations.
Maximum is building its platform with AI embedded at the foundational level rather than layered onto existing banking infrastructure.
The system is designed to let financial institutions build and deploy custom AI agents that can automate complex operational workflows, provide real-time visibility into customer activity, and support the launch of new financial products.
The company is also prioritizing security as AI creates new categories of threats for banks and their customers.
Maximum said its platform incorporates enhanced security protocols and controls intended to help financial institutions respond to increasingly intelligent and persistent attacks while managing operational and customer risks.
Maximum has already attracted interest from larger community and regional banks and ultimately plans to work with institutions of all sizes.
The company has assembled a team that includes operators who previously worked with Fernando across his earlier businesses, bringing experience spanning banking, payments, and financial infrastructure.
Several investors that backed Fernando’s previous ventures are also participating in Maximum, giving the company support from investors familiar with the founding team’s previous execution and exits.
Maximum will use the $30 million financing to accelerate product development, expand its engineering and operations organizations, and support implementations across its growing bank customer base.
KEY QUOTES:
“For decades, banks have attempted to serve the evolving needs of customers on infrastructure that was never designed for today’s world. The advancement of AI is creating a paradigm shift in financial services, and banks can’t keep pace by relying on legacy providers. Maximum will provide banks with ultimate control, powerful agentic capabilities, and the tools to innovate, enabling them to deliver exceptional new experiences to their customers and partners.”
Randy Fernando, Founder of Maximum
“Every generation of infrastructure eventually reaches a point where incremental improvements are no longer enough. We believe banking technology has reached that moment. Randy has repeatedly identified foundational shifts before the broader market, and we’re excited to back him for a second time as Maximum builds what we believe will become the operating system for the next generation of banking.”
Caitlin Bolnick Rellas, General Partner at CRV
