The following information will go over some of the more common questions that we receive at InvestNext. If you have additional questions, always feel free to reach out to support@investnext.com.
InvestNext, Inc. is a software company, not an FDIC-insured banking institution. Banking services are provided by Grasshopper Bank, N.A., Member FDIC.
How long does account setup actually take?
Most accounts are open within one to two business days. The entire
process happens inside InvestNext through our guided, fully digital
onboarding process.
Are funds insured?
Yes. Funds are held with Grasshopper Bank, N.A., Member FDIC, and are eligible for FDIC insurance up to applicable limits. FDIC deposit insurance only covers the failure of an FDIC-insured bank. Built-in KYC/AML verification is also included as part of the Transact workflow.
Can I use Transact across multiple raises?
Yes. Each raise has its own dedicated Transact account, all managed from
within InvestNext.
Is this feature supported by a banking partner?
InvestNext has a partnership with Grasshopper Bank, N.A., Member FDIC to
provide depository accounts directly in the Investnext platform. Access to these accounts help our clients to save on setup time and transaction fees, while reducing friction during the capital raise process.
Where can I learn more about Grasshopper Bank?
Grasshopper Bank, N.A., Member FDIC is a digital bank focused on supporting business and technology companies.
What does it cost to use Transact?
Transact is included at no cost for all InvestNext clients. Clients reduce
their overall costs by using Transact with free ACHs within Investnext and KYC/AML.
How does reconciliation work for wires?
Wires are automatically reconciled against your cap table using a
reference number or, if missing, suggested matches based on capital
activity in InvestNext. This greatly reduces manual reconciliation across
systems.
Does Transact offer transaction monitoring?
Yes. InvestNext uses automated monitoring tools to help identify potentially unusual transaction activity as part of the Transact workflow.
Does InvestNext hold my funds?
InvestNext does not hold custody of customer funds. Banking services are provided by Grasshopper Bank, N.A., Member FDIC. Eligible customers can apply for and manage deposit accounts directly within the InvestNext platform.
InvestNext, Inc. is a software company, not a bank or an FDIC-insured depository institution. Banking services are provided by Grasshopper Bank, N.A., Member FDIC. FDIC deposit insurance coverage is available only to protect you against the failure of an FDIC-insured bank that holds your deposits and subject to FDIC limitations and requirements. It does not protect you against the failure of InvestNext or other third party.