Maximum, an AI-powered financial infrastructure platform founded by former Marqeta executive Randy Fernando, has emerged from stealth with $30 million in seed backing. The funding round was led by CRV, with participation from Pear VC, Restive, Plug and Play Ventures, and Anthemis.
In development for over a year, Florida-based Maximum positions itself as an AI-powered operating system designed for banks. It aims to replace legacy infrastructure with custom agents capable of automating complex workflows and enhancing visibility into customer activity.
This marks Fernando’s third company. In 2014, he founded wealthtech platform Vault Investing, which was acquired by micro-investing app Acorns in 2017. Following this, he established credit card programme management platform Power Finance in 2021, which Marqeta acquired in 2023. After both acquisitions, Fernando assumed product leadership roles at the acquiring companies. His career also includes tenures at JP Morgan and Azlo, and he currently serves on the board of Elevate.inc.
Regarding the development of Maximum, Fernando stated, “The advancement of AI is creating a paradigm shift in financial services, and banks can’t keep pace by relying on legacy providers.” He further noted, “The next generation of technology cannot simply keep records. It must monitor, understand, learn, and eventually anticipate.”
The newly secured capital will be allocated towards expanding Maximum’s engineering and operations teams, while also supporting ongoing product development and implementations for its growing client base.
