Summary
Maximum emerged from stealth with a $30 million Seed financing to build an AI-native operating system designed to replace the fragmented legacy infrastructure still powering much of the US banking industry. The round, described as one of the largest Seed financings in fintech, was led by CRV with participation from Pear VC, Restive, Plug and Play Ventures, Anthemis, and others. The Miami-based company was founded by Randy Fernando, a repeat fintech entrepreneur who previously founded Vault (sold to Acorns) and Power (sold to Marqeta).
Key Facts
- $30 million Seed round, one of the largest Seed financings in fintech
- Led by CRV; participation from Pear VC, Restive, Plug and Play Ventures, Anthemis, others
- Miami-based; founded by Randy Fernando (ex-Vault→Acorns, Power→Marqeta)
- Targets core infrastructure layer of banking; AI embedded at foundational level
- Of ~5,000 US banks, more than 70% still run on legacy core systems built last century
- Platform lets banks build/deploy custom AI agents to automate operational workflows, real-time customer visibility, launch new products
- Prioritizes security as AI creates new threat categories
- Interest from larger community and regional banks; plans to work with institutions of all sizes
- CRV GP Caitlin Bolnick Rellas: "banking technology has reached that moment" where incremental improvements aren't enough
Why It Matters
Maximum's large Seed round signals growing investor conviction that legacy core banking systems are due for replacement by AI-native infrastructure. With over 70% of US banks still on last-century core systems, the opportunity to modernize banking operations with embedded AI agents is substantial. The round reflects a broader trend of AI-native challengers targeting the core banking stack, and the bet that AI can deliver the paradigm shift that incremental modernization has not.