Mantl

Mantl offers an omnichannel bank account opening infrastructure platform for community banks and credit unions to optimize their consumer onboarding experience. The platform enables banks to allow users to open accounts from any location, on any device. Through its infrastructure platform, Mantl attempts to empower community banks to build their own digital experience and client onboarding, given a significant majority of them tend to outsource it to third-party technology providers.

Mantl claims its platform has been used to raise billions of dollars in core deposits, since its inception in 2016, with its customers including Cross River Bank. Quontic, and Midwest BankCentre. In 2020, the company noted that its revenue and workforce doubled YoY, and that it expanded its executive team with former Slack, Google, and Squarespace personnel. Mantl also claims that its platform automates 90% of application decisioning, and reduces fraud by over 60%, resulting in deposit growth of around 4x faster than other solutions.

Mantl raised USD 40 million in Series B funding in April 2021, led by Alphabet’s CapitalG fund, which the company intends to invest in expanding its workforce and product suite.