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Mantl has raised $60.3M across 5 funding rounds.
Key people at Mantl.
Mantl has raised $60.3M in total across 5 funding rounds.
Mantl develops cloud-based enterprise software, specifically an account origination platform, designed for financial institutions. This platform enables banks and credit unions to streamline the process of opening deposit and loan accounts across various digital channels, serving as a customer-centric "outer core ecosystem" to modernize their operations and improve efficiency.
The company was founded in 2016 by CEO Nathaniel Harley and CTO Benjamin Conant. Their insight stemmed from recognizing the pressing need for regional banks and credit unions to adopt modern, agile technology, allowing these institutions to compete effectively, grow, and enhance their offerings in a rapidly evolving financial landscape.
Mantl primarily serves banks and credit unions, providing them with robust tools to optimize account opening and customer acquisition. The company's vision centers on empowering these financial institutions to modernize their infrastructure, simplify complex banking processes, and ultimately expand their reach and customer base through efficient, digitally-driven solutions.
Mantl has raised $60.3M across 5 funding rounds. Most recently, it raised $40.0M Series B in April 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Apr 1, 2021 | $40M Series B | CapitalG | Pareto Holdings, Point72 Ventures, Possible Ventures, PruVen Capital, Didier Valet, BoxGroup, Clocktower Technology Ventures, D1 Capital Partners, OldSlip Group | Announced |
| Jul 1, 2020 | $11M Series A | — | Earth And Beyond Ventures, Point72 Ventures, PruVen Capital, Sinai Ventures, Vine Ventures LP | Announced |
| Feb 1, 2020 | $8M Series A | Point72 Ventures | AME Cloud Ventures, BITKRAFT Ventures, Brkfst Club, Kevin Ding, FJ Labs, Fusion Fund, Goodwater Capital, Great Oaks Venture Capital, Hardware Club, Jigsaw VC, KRM Interests LLC, Hans Tung, Pegasus Tech Ventures, Primitive Ventures, PruVen Capital, Tiger Global Management, UpHonest Capital, Endicott Capital | Announced |
| Nov 1, 2016 | $1M Seed | — | 2048 Ventures, Earth And Beyond Ventures, Foundry Group, RTP Ventures, Sinai Ventures, Techstars, Vine Ventures LP, Esther Dyson | Announced |
| May 1, 2016 | $300K Seed | — | 2048 Ventures, Winklevoss Capital | Announced |
Key people at Mantl.
MANTL is an enterprise SaaS company that provides omnichannel account origination software for banks and credit unions, enabling seamless deposit and loan account openings across digital and in-branch channels.[1][3][4] It serves traditional financial institutions struggling with legacy technology, helping them modernize operations, raise core deposits (over $1B monthly), and open over 1M new accounts while improving customer experiences and reducing fraud through automated KYC/KYB workflows.[2][3][5] The platform solves inefficiencies in account opening by bridging online and offline processes, fueling growth for community banks and credit unions amid rising demand for fintech-like digital banking.[3][4]
Founded in 2016 in New York, MANTL raised $96.22M before being acquired by Alkami Technology in February 2025, positioning it as a key player in financial services tech with 100+ customers and strong momentum in deposit growth.[1][2][3]
MANTL was founded in 2016 in New York, New York, initially as a challenger bank called MyFin before pivoting to partner with traditional banks after an "aha" moment revealed the opportunity to deploy its technology at scale.[1][2] The founders recognized that U.S. banks and credit unions spend nearly $100B annually on technology yet face outdated legacy systems, frustrating consumers expecting digital-first experiences and hindering institutional growth.[3] This insight drove the shift to an enterprise SaaS model focused on deposit origination, quickly gaining traction by helping community institutions compete online and raise billions in core deposits yearly.[2][3]
Early pivotal moments included building an omnichannel platform that unifies in-person and online account opening, attracting over 100 customers and powering 1M+ new accounts as institutions adopted it to overcome legacy challenges.[3]
These features set MANTL apart from competitors like Abrigo, BAFS, and Mambu by emphasizing white-labeled, scalable deposit origination tailored to U.S. community banks/credit unions.[1][5]
MANTL rides the trend of digital transformation in banking, where legacy systems fail to meet consumer demands for seamless, omnichannel experiences amid rising online competition from fintechs.[2][3] Timing is ideal as U.S. financial institutions invest heavily ($100B/year) to modernize, reduce wholesale funding reliance, and expand digitally without physical branches—especially post-2025 acquisition by Alkami, enhancing unified origination amid consolidations.[1][3][7]
Market forces like fraud proliferation, regulatory pressures, and deposit growth needs favor MANTL, influencing the ecosystem by empowering regional players to innovate, acquire out-of-market accounts, and deliver equitable access—proving community institutions can lead global banking evolution.[2][3][5]
Post-acquisition, MANTL will likely deepen Alkami integrations like Plaid for asset verification, accelerating loan/deposit origination and targeting explosive growth in commercial banking.[1][7] Trends such as AI-driven KYC, composable banking, and digital-only brands will shape its path, potentially expanding to more verticals while community banks leverage it against big tech entrants.[4][5]
Its influence may evolve from niche SaaS to core infrastructure for modern banking, sustaining deposit momentum and ecosystem equity as institutions prioritize scalable, fraud-resilient tech—reinforcing its role as a growth engine from challenger origins to enterprise powerhouse.[2][3]
Mantl has raised $60.3M in total across 5 funding rounds.
Mantl's investors include CapitalG, Pareto Holdings, Point72 Ventures, Possible Ventures, PruVen Capital, Didier Valet, BoxGroup, Clocktower Technology Ventures, D1 Capital Partners, OldSlip Group, Earth and beyond ventures, Sinai Ventures.