Amount, a U.S.-based financial institutions tech company, announced on Tuesday it raised nearly $100 million through its Series D funding round and has achieved unicorn status by having a post-money valuation of $1 billion.
Founded last year, Amount reported it delivers the technology financial institutions need to create and enhance the digital consumer experience.
“Built by lending industry veterans, Amount helps partners go digital in months—not years—with omnichannel retail banking experiences and a robust point-of-sale financing product suite underpinned by platform features including fraud prevention, verification, decisioning engines and account management.”
The company’s partners may also optimize performance across product categories by tapping into various service offerings including customer acquisition, funnel and performance assessments, and risk analytics.
Amount further revealed that the Series D round represents over a 50% increase in valuation from the Goldman Sachs-led $86 million Series C announced in late 2020, bringing Amount’s total capital raised to $243 million since becoming an independent company from Avant in January 2020. Speaking about the investment round, Adam Hughes, CEO of Amount, stated;
“The additional capital clearly demonstrates the value our investors see in Amount’s ability to accelerate digital transformation in the banking and ecommerce industries through our robust retail banking suite and buy now, pay later platforms. We’re thrilled with the confidence that blue chip investors continue to have in our momentum and are excited to join the other Chicago tech unicorns who are helping make our city a hub for technological innovation and progress.”
Amount added that the Series D funds will be used to accelerate hiring in the company’s product, technology, and sales groups while pursuing accretive merger and acquisition opportunities to add new products and features to its platform.
