IntraFi

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.

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

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

• Reciprocal deposit network
• FDIC insurance services
• Deposit placement services
• Wholesale funding services
• Bank network services

Headquarters

HQ city

Arlington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Others

Revenue model

1. 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.
2. 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

Core 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

Named customers12 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Four partnerships are on record, tiered core and flagship.

• City First Bank of D.C.coreStrategic or Co-development Partner · 11 August 2025City 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)flagshipStrategic or Co-development Partner · 24 March 2025ICBA 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)flagshipStrategic or Co-development Partner · 4 June 2024CDBA 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)flagshipStrategic or Co-development Partner · 4 June 2024NBA 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

Emerging 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

• Xx.com/intrafi
• YouTubeyoutube.com/@IntraFiNetwork
• LinkedInlinkedin.com/company/intrafi
• Facebookfacebook.com/IntraFiNetwork

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IntraFi