Maximum exits stealth with $30M seed to rebuild banks' core software

Maximum has raised $30 million in a seed round led by CRV, one of the largest seed financings in fintech. Anthemis, Pear VC, Plug and Play Ventures, and Restive also participated. The Miami-based startup, founded by Randy Fernando, is building an AI-native operating system for banks to replace legacy infrastructure.

Maximum's platform runs on AI at a foundational level, letting banks build and deploy custom agents to automate operational workflows, track customer activity in real time, and launch new financial products. The funding will accelerate product development, expand engineering and operations teams, and support bank implementations.

More than 70% of the nearly 5,000 banks in the US still run on legacy core systems built last century — before mobile banking, real-time payments, or AI existed. "Banks can't keep pace by relying on legacy providers," Fernando said.

Fernando founded and sold Vault to Acorns in 2017 and Power to Marqeta in 2023. Maximum's team and backers include people who helped build and fund those ventures. CRV general partner Caitlin Bolnick Rellas is backing him "for a second time."

Maximum flags that AI adoption exposes new security vulnerabilities for banks. It says it has prioritised enhanced security protocols to protect institutions and customers from more persistent threats.

Maximum has drawn early interest from community and regional banks, with plans to serve banks of all sizes over time. Its bet is that incremental fixes to decades-old banking software are no longer enough — and that AI marks the moment to replace the core, not patch it.