IntraFi
IntraFi operates a reciprocal deposit network used by over 3,000 financial institutions — including 91 of the top 100 US banks — to provide multi-million-dollar FDIC insurance coverage beyond the standard $250,000 limit. The Arlington, Virginia-based fintech generates fee income from deposit placement and network membership services.
- Company typePrivate
- Founded2002
- HeadquartersArlington, United States
- Headcount251–500
- GTM typeB2B
- OfferingSoftware
What IntraFi does
IntraFi is a privately held financial technology company founded in 2002 in Arlington, Virginia by former federal banking regulators. The company operates a reciprocal deposit network that enables financial institutions to provide FDIC insurance coverage on deposits exceeding the standard $250,000 limit by splitting placements across multiple network banks through a single depositor relationship. Its core products — CDARS (Certificate of Deposit Account Registry Service) and ICS (IntraFi Cash Service) — are complemented by IntraFi Sweep, IntraFi Yankee Sweep, IntraFi Repo, IntraFi Assetpoint, and the ACT Deposit Program. The platform is used by over 3,000 financial services organizations including 91 of the top 100 US banks and 64% of all US banks, and is protected by 20+ US patents covering reciprocal deposit systems.
IntraFi generates revenue through a combination of network membership/subscription fees paid by participating financial institutions and transaction-based fees on deposit placements, including optional fee income when institutions sell deposits off-balance-sheet (One-Way Sell) to other network banks. The company sells B2B to financial institutions via a sales-led motion, leveraging long-standing partnerships with industry associations including ICBA (20+ year relationship), CDBA, and NBA for channel distribution. Customer segments span community banks, large commercial banks, investment firms, fintechs, government entities, educational institutions, and large-balance depositors including corporates and nonprofits.
The company is owned by private equity sponsors Blackstone Inc. and Warburg Pincus, who have executed seven dividend recapitalizations within three years as of June 2026 amid blocked traditional exit routes. In August 2025, IntraFi raised $2 billion in a financing round led by Morgan Stanley. The company operates as IntraFi LLC, a Virginia-domiciled LLC, with a workforce of 250+ employees.
IntraFi firmographics
Firmographics- Name
- IntraFi
- Legal name
- IntraFi LLC
- Website
- https://intrafi.com
- Company type
- Private
- Founded year
- 2002
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- IntraFi operates a reciprocal deposit network used by over 3,000 financial institutions — including 91 of the top 100 US banks — to provide multi-million-dollar FDIC insurance coverage beyond the standard $250,000 limit. The Arlington, Virginia-based fintech generates fee income from deposit placement and network membership services.
- Ownership category
- akta.pro rank
IntraFi industry classification
Industry- Product category
- Deposit Network Infrastructure
- NAICS
- Miscellaneous Intermediation (52391), Miscellaneous Intermediation (523910)
- SIC
- Finance Services (6199), Functions Related To Depository Banking, Nec (6099)
- akta.pro primary industry
- Sub-Accounting & Platform Servicing (Omnibus, Intermediary/NSCC, Retirement Platforms) (FSAAAMAI)
- akta.pro secondary industry
- Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)
Keywords
Where IntraFi is headquartered
LocationHeadquarters
- HQ city
- Arlington
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
IntraFi business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Others
Revenue model
- Deposit Placement Services: IntraFi generates fee income when financial institutions use its services to place or manage deposits. Institutions can either keep deposits on-balance sheet using reciprocal deposits option or sell deposits to other banks in the network for fee income.
- Network Membership/Subscription: Financial institutions pay for access to the IntraFi network, enabling them to offer enhanced FDIC coverage solutions to their customers and access wholesale funding services.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels6 records
IntraFi product offering
Product offeringCore offering
IntraFi operates a reciprocal deposit network that allows financial institutions to provide depositors with multi-million-dollar FDIC insurance coverage by placing funds across multiple network banks through a single bank relationship. Its services include CDARS and ICS for insured deposits, IntraFi Sweep and IntraFi Yankee Sweep for liquidity management, IntraFi Repo for repurchase agreements, IntraFi Assetpoint for bank asset opportunities, and the ACT Deposit Program for community development financial institutions. Member institutions can either keep deposits on-balance sheet (reciprocal deposits) or sell them to other network banks for fee income.
Product overview
IntraFi operates as a deposit network platform offering a suite of reciprocal deposit placement and wholesale funding services. The core products include CDARS and ICS (IntraFi Cash Service), which provide multi-million-dollar FDIC insurance coverage through reciprocal deposits across network banks. Supporting services include IntraFi Sweep, IntraFi Yankee Sweep, and IntraFi Repo for liquidity management, as well as IntraFi Assetpoint for bank asset opportunities. The company also operates the ACT Deposit Program in partnership with CDBA and NBA to channel deposits to community development banks. Institutions can choose to keep deposits on-balance-sheet (reciprocal deposits) or sell them off-balance-sheet (One-Way Sell) to other network banks for fee income.
Differentiator
Problem solved
Functional benefit
Brands
- CDARS: Certificate of Deposit Account Registry Service - provides FDIC insurance on deposits through a network of banks
- ICS
- IntraFi Sweep
- IntraFi Yankee Sweep
- IntraFi Repo
- IntraFi Assetpoint
- ACT Deposit Program
Products and services
- CDARS (Certificate of Deposit Account Registry Service)
Quantifiable outcome
- 91 of the nation's top 100 banks use IntraFi
- +4 more outcomes
Companies that use IntraFi
Customer profileNamed customers12 records
Segments5 records
Ideal customer profiles4 records
IntraFi technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature7 records
IntraFi partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and flagship.
- City First Bank of D.C.coreCity First Bank, a leading nationally chartered minority-led bank and ACT Deposit Program participant, uses the program to attract deposits and fund community lending. CEO Brian Argrett described the partnership as providing a wonderful tool to fund bank expansion and grow capability to lend back into communities.
- ICBA (Independent Community Bankers of America)flagshipICBA and IntraFi marked the 20th anniversary of their strategic relationship in March 2025. ICBA has been a key partner in promoting IntraFi's services to community banks nationwide. The partnership enables ICBA member banks to access IntraFi's deposit network services including CDARS and ICS.
- CDBA (Community Development Bankers Association)flagshipCDBA partnered with IntraFi to develop the ACT (Advancing Communities Together) Deposit Program, a special initiative within the ICS service designed to channel funding to CDFIs and MDIs serving low-income and minority communities. CDBA represents community development banking institutions focused on meeting credit needs in underserved communities.
- NBA (National Bankers Association)flagshipNBA partnered with IntraFi to develop the ACT Deposit Program alongside CDBA. NBA is a trade association comprised of African-American-, Hispanic-American-, Asian-American-, and women-owned banks. The partnership aims to provide employment opportunities, economic revitalization, and entrepreneurial capital to low- and moderate-income communities.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
IntraFi competitors and assessment
Company assessmentEmerging players
- Relay Financial: SMB and business banking platform offering FDIC-insured deposits and treasury cash management to small businesses, overlapping with IntraFi's small/mid-size institutional depositor segment on the insured-deposit axis.
- Modern Treasury: Operates a treasury operations and bank payments platform for fintechs and corporates, increasingly moving into insured deposit and cash sweep workflows. Adjacent business model with overlapping buyer personas (fintechs and corporates) but different core product.
- NorthOne: Digital banking platform for SMBs with FDIC-insured deposit accounts and integrated cash management tools; competes for the same SMB/community-bank depositor relationships that IntraFi enables through network banks.
- Mercury: Provides FDIC-insured banking products, sweep, and treasury solutions to startups and technology companies, overlapping directly with IntraFi's depositor-facing value proposition for the fintech/startup segment served via ICS and CDARS.
- Rho: Business banking and treasury platform offering FDIC-insured deposits and integrated cash management for startups and growth companies, targeting the same tech/startup depositor cohort that uses ICS/CDARS.
- Treasury Prime: Provides embedded banking and deposit infrastructure (banking-as-a-service) connecting fintechs with sponsor banks, intersecting with IntraFi's fintech customer segment and competing for share of fintech deposit flows.
- Brex: Offers treasury, cash management, and FDIC-insured deposit products for startups and mid-market companies, competing for the same large-depositor wallet that IntraFi's ICS/CDARS products serve.
Direct peers
- StoneCastle Partners: Historical direct competitor in reciprocal deposit and intra-network funding services for community banks before much of its business was consolidated into IntraFi. Closest peer in terms of business model — inter-bank deposit placement and FDIC insurance scaling for community institutions.
Regional players
- Bankers' Bank (Bankers' Bancorp / multiple regional bankers' banks): Regional bankers' banks provide correspondent banking, deposit placement, and operational services to community banks — overlapping with IntraFi's community-bank customer base through a regional, member-owned model rather than a national reciprocal network.
Broad incumbents
- BNY Mellon Treasury Services: Large incumbent providing treasury services, cash management, and deposit-related products to institutional clients, offering overlap with IntraFi's institutional depositor segment as part of a much broader financial services portfolio.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
IntraFi social profiles
Digital presenceIntraFi financial estimates
Financial estimateRevenue estimate
Valuation estimate
IntraFi leadership team
Management profileNumber of profiles
Profiles1 record
IntraFi funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
IntraFi M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about IntraFi
What does IntraFi do?
IntraFi operates a reciprocal deposit network that allows financial institutions to provide depositors with multi-million-dollar FDIC insurance coverage by placing funds across multiple network banks through a single bank relationship. Its services include CDARS and ICS for insured deposits, IntraFi Sweep and IntraFi Yankee Sweep for liquidity management, IntraFi Repo for repurchase agreements, IntraFi Assetpoint for bank asset opportunities, and the ACT Deposit Program for community development financial institutions. Member institutions can either keep deposits on-balance sheet (reciprocal deposits) or sell them to other network banks for fee income.
Is IntraFi a public or private company?
IntraFi is a private company. It is classified as private equity controlled and is currently operating.
When was IntraFi founded?
IntraFi was founded in 2002. It employs 251 to 500 people.
Where is IntraFi based?
IntraFi is headquartered in Arlington, United States, in the North America region.
How does IntraFi make money?
Two revenue lines are on record. Deposit Placement Services are the primary driver. The others are network Membership/Subscription.
Who are IntraFi's main competitors?
Emerging players on record are Relay Financial, Modern Treasury, NorthOne, Mercury, Rho, Treasury Prime and Brex. StoneCastle Partners is listed as a direct peer. Bankers' Bank (Bankers' Bancorp / multiple regional bankers' banks) is listed as a regional player. BNY Mellon Treasury Services is listed as a broad incumbent.
Does IntraFi have an API?
No public API is recorded for IntraFi.
What industry is IntraFi in?
IntraFi's product category is Deposit Network Infrastructure. Its primary akta.pro industry code is FSAAAMAI, Sub-Accounting & Platform Servicing (Omnibus, Intermediary/NSCC, Retirement Platforms), with a secondary code of FSAGAGAL, Embedded Insurance & Affinity Distribution Platforms. Its NAICS code is 52391 and its SIC code is 6199.