Fragment raises a $12M Series A led by FirstMark for financial infrastructure built for AI agents

New York-based Fragment has raised a $12 million Series A led by FirstMark, with BoxGroup participating. Total funding reaches $23 million.

Fragment is led by co-founder and CEO Thomas Neckel, with CTO Varun Mohan running product and engineering. It provides the ledger and financial infrastructure that vertical AI companies use to automate their customers' billing, payments and accounting. The company says its system enforces financial correctness, so invalid transactions cannot go through.

Customers include Ramp, BILL and Whop.

FirstMark partner Adam Nelson described the product as a harness that gives engineers the controls to build and run financial systems at internet scale. Fragment is hiring across engineering and go-to-market.

The read: as agents start moving money, the ledger becomes the control layer that decides what is allowed to happen.