With deposit volume growing 705% in April, MANTL raises $19 million
- MANTL, which helps banks open digital accounts, has experienced strong growth during the pandemic.
- The company is also announcing an additional fundraising.

MANTL, a digital account opening solution for banks and credit unions, experienced a 705% rise in deposit volumes across its customer base in April.
MANTL announced today an extension of its series A funding to $19 million, as a result of a $11 million raise. New and existing investors, including Point72 Ventures and Clocktower Technology Ventures, participated in the Series A extension. The new funds will be used to accelerate product development and team growth, particularly across engineering, product, and sales.
MANTL customer Happy State Bank, a $3.8 billion bank in Texas, saw a 166.7% rise in new checking accounts in April. Quontic Bank, a $400 million bank focused on underserved communities in New York City, had online deposit account applications increase by 134% in April. Year over year, funding through MANTL grew 30% in March and 629% in April.
Tearsheet sat with MANTL CEO and co-founder Nathaniel Harley to discuss growth and the recent fundraising.
This content is available exclusively to Tearsheet Outlier members.
Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — $59/mo Already an Outlier member? Sign in to your account