ModusBox, a Seattle, WA-based infrastructure and integration technology company, raised $7.5M in Series A funding.
The round was led by Patamar Capital, and Choice Bank, with participation from BankTech Ventures and American Capital Partners.
The company intends to use the funds to accelerate the development of its PortX products, drive key partnerships with advanced fintech solutions, and continue its contributions to the Mojaloop real-time payments ecosystem, and recruit talent for recruiting, marketing, customer success, and engineering.
Led by CEO David Wexler, ModusBox focuses on providing open banking solutions that give access to banking core data, eliminate vendor dependencies, and simplify connections to fintechs and real-time payment networks.
PortX is an Integration-Platform-as-a-Service (iPaaS) for community financial institutions (CFIs) that gives access to banking core data, eliminates vendor dependencies, and creates simplified connectivity for fintechs and real-time payment networks that are reshaping the global financial system. It helps financial institutions empower their teams to connect to real-time payment networks like Zelle®, Mojaloop, ACH, Fedwire, and others. In addition, the solutions enable interoperability between online banking, credit checks, mortgage and loan applications, and other internal systems allowing for a timely and accurate view of customer data.
FinSMEs
29/04/2022