Interchecks, the NYC-based instant payments provider, announced a $50 million Series C round led by Bettor Capital. The capital will fuel platform expansion and team growth, coinciding with the launch of Account Funding Transactions to deliver seamless real time debit card deposits alongside its established payout solutions.
Interchecks, a New York City-based instant payments platform founded in 2016, has secured $50 million in Series C funding. This round was led by Bettor Capital, with participation from Commerce Ventures, Decades Holdings, and Thayer Street Partners. The company has processed over $50 billion in transactions, maintains 99.99% uptime, and has been in business for a decade. It serves sportsbooks, fintechs, financial institutions, lenders, and related sectors with a unified RESTful API for funding (deposits) and payouts (withdrawals).
How will Interchecks use the funds?
The funding will support expansion of operations, technology development, and team growth. Concurrently, Interchecks launched the general availability of Account Funding Transactions (AFT). This enables real time debit card funding for accounts, complementing its existing “Pay by Bank” solution.
AFT targets friction in digital finance by offering fast, secure deposits with embedded risk controls, including account verification, real time duplicate card detection, customizable velocity limits, and proactive fraud monitoring to minimize chargebacks. It supports use cases like account to account transfers, neobanks, neobrokerages, and crypto wallet funding.
This launch completes the full lifecycle of money movement on a single platform, allowing clients to offer diverse deposit and withdrawal methods without multiple integrations. It builds on strengths in instant payouts (e.g., push to-card in ~10 seconds, real time payments, ACH, PayPal, Venmo) and funding options.
Who founded Interchecks?
- Dylan Massey (Co-Founder and CEO): Former Goldman Sachs analyst; has led the company since inception, emphasizing faster, safer, more controllable money movement.
- Brandon White (Co-Founder and CTO): Extensive development leadership from CDK Global.
- Robert (Bob) Chevlin (Co-Founder and CPO): Background at TxVia (acquired by Google) and RBS WorldPay.
- Other key executives include Tom Mainville (EVP Technology), Steve Wade (Chief Growth Officer, ex Hyperwallet/PayPal), PJ Loussedes (COO, ex Goldman Sachs Risk), and Michael Margolis (VP Finance).
The team comprises over 50 technologists, operators, and financial experts in a remote first, collaborative culture with competitive benefits.
Interchecks operates in high growth, regulated verticals where speed, compliance, and risk management are critical: online gaming/sportsbooks (benefiting from U.S. state legalization waves), earned wage access (EWA), fintech, digital banking, prediction markets, and digital assets.
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Key metrics and differentiators include:
- Rapid onboarding (<60 days to go live).
- High conversion via advanced analytics and daily monitoring.
- Partnerships with networks like Visa Direct (real time payouts) and Mastercard (A2A and Open Finance).
- Proven reliability for enterprise clients, with testimonials highlighting industry first real time EWA payouts and strong uptake.
Prior funding included a $16M Series B in early 2022 (co-led by Senator Investment Group and Standard Investments, with prior investors), bringing pre Series C totals to around $25M+ depending on sources. This $50M round marks significant scaling.
In the evolving payments landscape, instant and real time rails (RTP, push to card, etc.) are gaining traction over traditional ACH or checks due to consumer demand for immediacy. Interchecks differentiates through a single API approach covering the full money movement cycle, embedded compliance/risk tools tailored to regulated industries, and focus on high velocity sectors like gaming and fintech.
The funding comes amid broader fintech investment recovery, particularly in infrastructure enabling B2B/B2B2C payments. Bettor Capital’s involvement underscores alignment with gaming adjacent tech suppliers. Investor comments highlight the platform’s differentiation, team strength, and commercial momentum.
This capital infusion positions Interchecks to deepen product capabilities (e.g., expanding AFT and integrations), scale sales/operations, and potentially enter adjacent markets. With a decade of bootstrapped to VC growth, strong processing volume, and now enhanced funding rails, the company is poised to capture more share in the shift toward instant, flexible, and compliant payments. Challenges in the space include regulatory scrutiny, fraud risks, and competition from larger players, but Interchecks’ specialized focus and execution track record provide a solid foundation for continued expansion.
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