back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

Amount raises $81 mn Series C investment led by Goldman Sachs

By Pavithra R

December 03, 2020

  • Amount
  • USA
Share

Adam Hughes, CEO of Amount

Amount, accelerating the world’s transition to digital financial services has announced it has raised an $81 mn Series C investment led by Goldman Sachs Growth with participation from existing investors including August Capital, Invus Opportunities and Hanaco Ventures.

The finance has brought the company’s 2020 capital raise to $140 mn. Amount is planning to use the funding to help scale sales and marketing while accelerating platform research and development investments.

“Most banks are looking for resources and infrastructure to accelerate their digital strategy and meet the demands of today’s consumer. Amount enables banks to navigate digital transformation through its modular and mobile-first platform for financial products. We’re excited to partner with the team as they take on this compelling market opportunity,” said Jade Mandel, a Vice President in Goldman Sachs’ growth equity platform, GS Growth, who will be joining the Board of Directors at Amount.

Amount’s battle-tested retail banking and point-of-sale (POS) technology accelerates digital transformation for financial institutions (FIs), empowering them to deliver a secure and seamless digital customer and merchant experience leveraging its verification and analytics capabilities.

The funding announcement follows the FinTech’s recent Series B round led by Nigel Morris and the team at QED Investors. Amount delivers omnichannel retail banking experiences, and a robust POS financing product suite alongside platform features like fraud prevention, verification, decisioning engines, and account management to enhance its partners’ existing products and services.

“With the pressure to provide world-class origination and account management experiences to customers and buy-now-pay-later tools to important merchant partners, banks need a proven platform for quickly going digital, delivering a seamless customer experience and driving growth without disruption. We are honored that Goldman Sachs and our other investors are backing Amount with capital that will help us continue to develop and deliver technology that pushes the envelope and helps our bank partners expand digitally and grow with ease,” said Adam Hughes, CEO of Amount.

Amount believes in the power of technology to transform lives. The firm has partnered with various FIs including Banco Popular, HSBC, Regions Bank and TD Bank to drive growth and simplify their transition to digital financial services. The firm continues to power profitable decisioning, adapting legacy systems and unifying data to widen the possibilities for FIs to deliver new products and better serve customers while unlocking efficiencies and cost savings.

Previous Article

December 02, 2020

5 top FinTechs disrupting financial services in Indonesia

Read More
Next Article

December 03, 2020

Teen banking app Step raises $50 mn in Series B funding

Read More










IBSi Daily News Analysis

The Weekly Wrap

September 30, 2022

Amount

The Weekly Wrap: all you need to know by Friday COB | Sept 30th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Newtek selects Apiture’s digital banking platform to power Newtek Bank

Read More

Today

Frost raises £1.1m in major seed funding round

Read More

Today

Mumsnet and Chetwood Financial to launch family-focused financial services

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
IBS Intelligence - Global Digital Banking Vendor & Landscape Report Q2 2022
Global Digital Banking Vendor & Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q3 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q3 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022