Interchecks, profitable since 2023, raised $50M led by Bettor Capital to expand instant payments and launched AFT, as 66% of consumers prefer instant payouts.
Alpha Score of 60 reflects moderate overall profile with weak momentum, strong value, strong quality, moderate sentiment.
Interchecks raised $50 million in a Series C funding round led by Bettor Capital, Commerce Ventures, Decades Holdings and Thayer Street Partners. The company, which processes payments for sportsbooks and financial institutions, has been profitable since 2023 and posted triple-digit revenue growth for seven straight years.
The funding will expand Interchecks' platform, which has handled more than $50 billion in transactions over its decade-long history. The company also made Account Funding Transactions generally available. AFT lets businesses use debit cards to fund eligible accounts, extending Interchecks' reach across the full money-movement lifecycle.
"Since we founded Interchecks a decade ago, our goal has been simple: make money move faster, more safely, and with more control than anyone thought possible," co-founder and CEO Dylan Massey said in the release. "This raise lets us go deeper on the technology and the team, and AFT is a direct expression of what we've been building toward."
The funding round comes as demand for instant payouts accelerates, particularly in gaming. A PYMNTS Intelligence report found that 66% of consumers prefer instant winnings payouts because they are convenient. Interchecks' roots are in gaming. The company has been expanding into other industries.
In December, Interchecks and Mastercard announced a partnership to expand account-to-account payments. The collaboration targets subscription businesses, banks, neobanks, FinTechs, telecoms and utilities. Mastercard, with an Alpha Score of 62, is betting on A2A as a growth vector.
Bettor Capital Partner Jake Kleiner said: "Interchecks' differentiated platform, outstanding team and strong commercial momentum all align perfectly with Bettor Capital's thesis of backing premier software and technology suppliers within our vertical, and we are thrilled to continue supporting the Company via its Series C fundraise."
The round signals investor confidence in instant payments infrastructure, according to the company's statement. Interchecks' profitability since 2023 sets it apart from many payments startups that burn cash for years. The AFT launch expands Interchecks' platform to cover the full lifecycle of money movement, the company said.
Interchecks did not disclose its valuation. Existing investors including Bettor Capital participated in the round. The company plans to use the funds to deepen its technology and expand its team, Massey said.
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