U.S.-based money experience company MX announced on Wednesday it has raised $300 million in a Series C funding round led by a $150 million investment from TPG Growth with additional participation from new and existing investors including CapitalG, Geodesic Capital, Greycroft, Cota Capital, Canapi Ventures, Digital Garage, Point72 Ventures, and Pelion Venture Partners.
Founded in 2010, MX powers more than 2,000 banks, credit unions, fintechs, and technology companies, as well as 85% of digital banking providers, with a combined reach of over 200 million consumers.
“MX is the source of the data and the data enhancement engine that powers all these experiences. The latest investment will be used to help organizations everywhere automate the money experience, which means using aggregated and enhanced data to make interacting with money as intelligent and personalized as shopping on Amazon, streaming music on Spotify, or driving a Tesla.”
Ryan Caldwell, Founder and CEO at MX, spoke about the company by noting he and his team are helping financial institutions and technology companies accelerate their digital roadmaps and launch next generation services and apps that will fundamentally transform how people interact with their money.
MX further revealed it has increased its market valuation to $1.9 billion. Funds from the investment round will be used for the growth and development of the MX platform.