What is MX?
MX is at the forefront of Open Finance, empowering organizations to harness the power of financial data. By connecting a vast network of financial institutions and fintechs, MX provides the industry's most reliable and secure data connectivity. The company's platform is instrumental in enabling thousands of banks, credit unions, and fintechs to deliver intelligent and personalized money experiences to over 200 million consumers. MX's technology transforms raw, unstructured data into a valuable asset, driving innovation in digital banking and financial services.
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 Peak Ventures, Commerce Ventures, Plus550, TTV Capital, and North Hill Ventures
Series A (2015): $30M led by USAA and Digital Garage
Private Equity (2015): $4M, investors not publicly disclosed
Series B (2019): $100M featuring Commerce Ventures, Washington Federal, TTV Capital, Cross Creek Capital, H.I.G. Capital, Industry Ventures, Digital Garage, National Bank, Pelion Venture Partners, Point72, Battery Ventures, and Sorenson Capital
Series C (2021): $300M backed by Canapi Inc., Geodesic Capital, CapitalG, Greycroft Partners LLC, Cota Capital, and Tarrant Capital IP, LLC
Key Investors in MX
Commerce Ventures
Commerce Ventures is an investment firm that partners with entrepreneurs from diverse backgrounds to build the infrastructure for future industries in retail and financial services. They focus on sectors such as retail tech, payment tech, insurance tech, and banking tech, providing support to companies in their portfolio.
TTV Capital
TTV Capital invests in fintech businesses that serve the widely varying needs of the financial services sector and the consumers of financial products. The company's team of experienced technology and financial services professionals has more than 100 years of venture capital and highly relevant industry operating expertise.
CapitalG
CapitalG is Alphabet's independent growth fund that invests capital and expertise to support remarkable entrepreneurs and transformational companies in accelerating their growth. The fund focuses on growth-stage companies, providing significant capital and hands-on operational support.
What's next for MX?
The substantial enterprise-level funding and recent strategic investment indicate MX is poised for accelerated expansion and market leadership. This capital infusion is expected to fuel further development of its Open Finance ecosystem, enhance its data connectivity network, and broaden its reach within the digital banking and fintech sectors. MX's strategic focus will likely involve deepening partnerships, expanding its product offerings, and solidifying its position as the essential infrastructure for financial data exchange, driving innovation and customer-centric solutions.
See full MX company page
