Interchecks, an instant payment infrastructure and service provider, has raised $16m from a Series B funding round.
The funding raise was led by Senator Investment Group and Standard Investments and saw participation from Bettor Capital, Nuvei, Shift4 Ventures and Commerce Ventures.
Founded in 2016, Interchecks claims its goal is to simplify and enhance payouts and compliance for organisations globally. The company offers a suite of on-demand payout options include instant deposit, direct deposit, digital check and paper check.
According to Interchecks, the funding will be used to further its mission to power instant money-movement for FinTech, online gaming and digital asset ecosystem applications. It will also expand its ability to support Visa Direct, RTP, stablecoins, compliance as well substantially grow headcount.
Interchecks CEO and co-founder Dylan Massey said, “Interchecks had an exceptional 2021 marked by continued success and remarkable growth within FinTech and Online Gaming as new states continue to legalize sports betting. The innovative and trusted platforms in payments. Early bets we made on people, markets, and bank partners proved valuable, and we couldn’t be more excited to enter the next phase of our growth.”
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