Minneapolis based infrastructure platform for direct deposits and recurring payments has raised $13m in Series B financing led by Commerce Ventures and Point72 Ventures.
Headquartered in Minneapolis, ClickSWITCH provides a white-label banking solution to financial institutions, allowing customers to switch direct deposits and recurring payments in just a few minutes. The solution also enables financial institutions and fintechs the ability to fund new accounts and increase profitability of new account holders. “There is a battle for banking deposits underway across FinTech innovators and incumbent financial institutions. Players across the industry are finding that ClickSWITCH is a critical utility for onboarding and activating valuable new customers," said Dan Rosen, Partner at Commerce Ventures.