PortX, a spinoff from ModusBox, offers a banking and payment API-based infrastructure platform for community financial institutions (FIs) – banks and credit unions. The platform enables community FIs to access and integrate core banking data and connect to FinTech partners to modernize banking services including online banking, credit checks, as well as mortgage and loan applications.
The platform enables integrations with several real-time payment networks, including ACH, Fedwire, Mojaloop, and Zelle.
Funding and financials
PortX raised USD 16.5 million in a Series B funding round in September 2023, co-led by FUSE and Curql. The funds were expected to be used to accelerate the development of new products and support, enhance AI offerings, and expand the company's marketplace of connectors for integrating FinTechs and third-party apps.
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