What is MX?
MX operates as the backbone of modern digital banking, providing the essential connectivity network that allows financial institutions to aggregate and interpret complex data sets. By powering 85% of digital banking providers, the company has established itself as an indispensable utility in the financial services ecosystem. Its platform facilitates the seamless integration of disparate financial data, enabling banks, credit unions, and fintechs to deliver sophisticated, data-driven money management tools to their end-users. This market-leading position is supported by a robust technological framework designed for high-security data exchange and real-time analytics.
How much funding has MX raised?
MX has raised a total of $454M across 5 funding rounds:
Angel/Seed
$20M
Series A
$30M
Private Equity
$4M
Series B
$100M
Series C
$300M
Angel/Seed (2014): $20M with participation from TTV Capital, Plus550, Peak Ventures, North Hill Ventures, and Commerce Ventures
Series A (2015): $30M led by Digital Garage and USAA
Private Equity (2015): $4M, investors not publicly disclosed
Series B (2019): $100M featuring Washington Federal, Sorenson Capital, Commerce Ventures, Cross Creek Capital, National Bank, Point72, Industry Ventures, Pelion Venture Partners, Battery Ventures, H.I.G. Capital, TTV Capital, and Digital Garage
Series C (2021): $300M backed by Geodesic Capital, CapitalG, Tarrant Capital IP, LLC, Greycroft Partners LLC, Cota Capital, and Canapi Inc.
Key Investors in MX
CapitalG
CapitalG is Alphabet's independent growth fund that invests capital and expertise to support remarkable entrepreneurs and transformational companies in accelerating their growth.
Geodesic Capital
Geodesic Capital is an investment firm that specializes in providing strategic guidance and critical access to Asian markets, starting with Japan.
Greycroft Partners LLC
Greycroft is a leading venture capital firm focused on investments in the Internet and mobile markets, leveraging an extensive network of media and technology industry connections.
What's next for MX?
Looking ahead, the strategic allocation of the $300M investment positions MX to further accelerate its product innovation and expand its footprint within the global financial infrastructure market. As the demand for hyper-personalized banking experiences continues to rise, the company is well-positioned to leverage its extensive data network to pioneer new standards in Open Finance. Future growth will likely focus on deepening its AI-driven analytical capabilities and expanding its reach into emerging markets, ensuring that it remains the primary conduit for financial data connectivity in an increasingly digital-first economy.
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