Amount is one of the fastest growing startups in the world. Having generated $ 1 billion in value in just 16 months, Amount joins three other Chicago companies that also hit the $ 1 billion valuation mark in 2021. The Series D round represents a more than 50% increase in valuation over the group led by Goldman Sachs. $ 86 million Series C announced at the end of 2020, bringing the total capital raised to Amount $ 243 million since it became an independent company in January 2020. Capital will continue to fuel Amount’s rapid growth as a preferred partner for banks seeking to deliver seamless and straightforward customer experiences to compete with their fintech rivals.
“The additional capital clearly demonstrates the value our investors see in Amount’s ability to accelerate digital transformation in the banking and e-commerce industries through our strong retail banking suite and buy now, pay later,” said Adam Hugues, CEO of Montant. “We are delighted with the confidence that leading investors continue to have in our momentum and we are delighted to join the other Chicago technological unicorns that help make our city a hub of innovation and technological progress. “
Amount is the industry’s first and only proven enterprise solution designed specifically for the banking industry by helping banks and financial institutions upgrade and improve their digital retail banking experience and compete in buy now. , pay later by taking advantage of Amount’s world-class verification and analysis capabilities. Recent partnerships include Barclays US Consumer Bank, which became one of the first major banks to offer installment point-of-sale options, with the ability for merchants to make “white-label” point-of-sale payments under their own brand, all powered by by Amount. Other banking partners include BBVA, HSBC, TD Bank, Regions, Banco Popular and Avant.
“We specifically chose Amount because it is a market leader with considerable industry experience and a phenomenal management team,” Kevin Marcus, partner at WestCap. “We believe Amount has put in place the right framework to help banks modernize and update their infrastructure, which will democratize access to financial products, making them more understandable and accessible to consumers across the country. “
D-Series capital 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 functionality to the platform. -form Amount.
“Having invested in Amount previously, we are clearly fans of their exemplary track record, which shows no signs of slowing down,” said Lior prosor, general partner and co-founder of Hanaco Ventures. “We are honored to continue to support Amount and the important work they do to help consumers access transparent, transparent and easy-to-understand payment options.”
For more information visit www.montant.com.
About the amount
Amount provides the technology financial institutions need to create and enhance the digital consumer experience. Designed by lending industry veterans, Amount helps partners go digital in months, not years, with omnichannel retail banking experiences and a robust point-of-sale lending solution underpinned by platform functionality. form, including fraud prevention, verification and decision drivers. Using Amount’s technology, banking partners can optimize the performance of all product categories by leveraging a variety of service offerings, including customer acquisition, funnel and performance assessments, and risk analysis . The customer base includes financial institutions that collectively manage nearly $ 2 million in US assets and serve more than 50 million US customers. Visit www.montant.com for more information.
The WestCap Group is a private equity firm founded by Laurence A. Tosi, who, along with the WestCap team, has founded, capitalized and operated markets with technology and light assets for over 20 years. With over $ 2 billion of assets under management, WestCap has made notable investments in technology companies such as Airbnb, StubHub, iPreo, Skillz, Sonder, Addepar, Hopper, iCapital and Bolt. To learn more about WestCap, please visit WestCap.com.