Portx

About Portx

Portx, Inc. operates as a financial technology firm providing integration software and infrastructure for financial institutions. Originating as a key product within ModusBox, which was co-founded by David Wexler and Kent Brown in 2013, Portx was spun off into a separate entity in September 2022 to better address the specific needs of its financial services clientele. The separation was backed by a $10 million Series A funding round, adding to a previous $7.5 million raised by ModusBox. David Wexler serves as the CEO of Portx.

The company's core offering is an Integration-Platform-as-a-Service (iPaaS) known as the Fintech Hub, purpose-built for community banks, credit unions, and other financial institutions. This platform is designed to unlock access to core banking data, remove dependencies on traditional vendors, and simplify the connectivity between a financial institution's internal systems and third-party fintech applications. By providing an API agility layer, Portx enables clients to accelerate the development of new products, streamline processes like loan and deposit operations, and create a unified, 360-degree view of their customers. The platform facilitates interoperability for services such as online banking, mortgage applications, and credit checks, and connects to real-time payment networks including Zelle, ACH, Fedwire, and Mojaloop.

Portx's business model is centered on providing this connectivity as a service, offering a more cost-effective and flexible alternative to expensive, general-purpose integration platforms and the lengthy development cycles often required by core banking vendors. Following its Series A, the company secured an additional $16.5 million in a Series B round in September 2023 to fuel product development and expand partnerships. As part of its growth strategy, Portx also formed a Credit Union Service Organization (CUSO) to deliver more tailored solutions for its credit union customers.