Instant payment platform Interchecks completes $50 million in Series C financing

According to PRNewswire, instant payment platform Interchecks announced that it has completed a US$50 million Series C financing from investors including Bettor Capital, Commerce Ventures, DecadesHoldings and Thayer StreetPartners. The company also launched a debit card-based AccountFunding Transactions (AFT) product, which supports real-time deposit of compliant accounts through the debit card network, and integrates risk control functions such as account verification, real-time detection of duplicate cards, customized limits and suspicious behavior monitoring. AFT is integrated into a single API with the previous Pay-by-Bank and is suitable for scenarios such as inter-account transfers, neobank, online brokerages and crypto-wallet deposits. Interchecks said it has processed more than US$50 billion in transactions in the ten years since its establishment and has been profitable since 2023.