Latham & Watkins Advises ModernFi in US$18.7 Million Series A

ModernFi, Inc. has announced that they have closed a US$18.7 million Series A round led by Canapi Ventures with participation from Andreessen Horowitz, Remarkable Ventures, and leading banks Huntington National Bank, First Horizon, and Regions Bank. This brings ModernFi’s total funds raised to more than US$23 million.

Faced with a rapidly evolving deposit landscape, financial institutions across the country have turned to ModernFi to help manage their funding. Since its first raise, ModernFi has quickly established itself as the nation’s leading tech-enabled deposit network with its software for deposit management, helping financial institutions overcome manual processes that slow down traditional deposit networks.

Latham & Watkins LLP represents ModernFi with an emerging companies team led by Boston partner Stephen Ranere, with associates Galina Vujovic and Emma Mayberry.