Interchecks Announces $16M Series B Funding, Co-Led by Senator Investment Group and Standard Investments, to Accelerate Instant Payments Infrastructure

NEW YORK–(BUSINESS WIRE)–Interchecks, one of the fastest growing instant payment infrastructure and service providers, today announced a $16 million Series B funding round. 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 of powering instant money movement for fintech, online gaming and digital asset ecosystem applications.

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

The new capital raised will expand Interchecks’ ability to support Visa Direct, RTP, stablecoins and compliance, as well as significantly increase headcount.

“Interchecks had an outstanding 2021 marked by continued success and remarkable growth within FinTech and online gaming as more states continue to legalize sports betting,” said Dylan Massey, Co-Founder and CEO. of Interchecks. “The caliber of our Series B investors reinforces Interchecks’ position as one of the most innovative and trusted payment platforms. The early bets we made on people, markets and banking 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 AJ Murphy, Head of Markets at Standard Investments. . “We are proud to work with their team as they usher in the next generation of payment technology.”

Joe Armao, the senator’s FinTech sector manager, added, “Interchecks wins with vision, speed and execution. Interchecks’ lean team punches above their weight impressively, and we’re excited to support their next phase of growth and scaling.

About Interchecks

Founded in 2016, Interchecks Technologies, Inc. is a privately owned payments startup with offices in Brooklyn, New York and Boca Raton, Florida. Interchecks’ goal is to simplify and improve payments and 1099 compliance for organizations around the world. Their suite of on-demand payment options includes instant deposit, direct deposit, digital check, paper check, and more. Trusted by banks, fintechs, enterprise and marketplace platforms, the service is available through a turnkey payer portal or a simple API integration that can be white-labeled and integrated into the own experience user of a payer. For more information about Interchecks, please visit www.interchecks.com or LinkedIn @gointerchecks.

About Senator Investment Group

Senator Investment Group is a private investment firm founded in 2008 to pursue opportunistic investments across the capital structure and business life cycle, with an emphasis on investing in change. The firm invests globally across all sectors, with three primary focus areas: fintech, industrial sustainability and life sciences. The team is ambidextrous in credit and equities, and experienced in public and private markets.

About Standard Investments

Standard Investments, a company affiliated with Standard Industries, is a fundamental-driven investment platform focused on the intersection of industry and technology. Standard Investments deploys capital flexibly and creatively across public and private markets, spanning the life cycle of a business, and leverages deep industry knowledge and operational experience to create value. To learn more, visit www.standardinvestments.com or follow us on LinkedIn at @standardinvestments.

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