MX ties up $300m in Series C funding
Utah-based fintech start-up, MX, has raised $300 million in a funding round led by private equity firm TPG Capital.
The Series C saw additional funding from new and existing investors, including CapitalG, Geodesic Capital, Greycroft, and Cota Capital.
MX’s latest injection means it has raised £505 million from 27 investors across five rounds.
MX provides account aggregation services to banks, credit unions, and fintechs. It claims its systems enhance financial data to reduce fraud, approve loans faster, and help clients invest.
The firm claims more than 2,000 customers, and 30 million end customers.
“The financial industry is at an inflection point as organisations look to become not only intermediaries, but true advocates for their customers,” says MX CEO Ryan Caldwell.
“We are helping financial institutions and technology companies accelerate their digital roadmaps and launch next generation services and apps.”
The $300 million raise comes in the same week as digital lender Blend, which raised the same amount in a Series G.