Amount secures $30m to deliver digital lending solutions

By Gloria Mathias

Amount, a digital origination and decisioning SaaS platform powering consumer and small businesses, has announced the successful close of a $30 million equity capital raise.

The company will use the funds to further invest in its technology and accelerate its progress in the credit union sector. This will build on Amount’s track record of helping financial institutions simplify and streamline their business processes. Amount also plans to use the new funding to enhance its current artificial intelligence and machine learning capabilities.

Amount welcomes Curql, a collective of credit unions jointly investing in FinTech, as a new strategic investor. Curql’s investment aligns with Amount’s strategy to expand further into the U.S. credit union market. Existing investors, including Growth Investing at Goldman Sachs, WestCap, Hanaco Ventures, and QED Investors, also participated in the round.

“Amount has long recognized the unique opportunity credit unions have to better serve their members via digital channels for efficient origination of credit products and deposit accounts,” said Adam Hughes, CEO of Amount. “Amount has historically had tremendous success working with larger enterprise banks, and now this funding round positions our company to add tremendous value to thousands of credit unions, strengthening their relationships with their members.”

“At Curql, we are committed to identifying and supporting fintech companies that can transform the CU member experience, driving relevancy and competitiveness,” said Nick Evens, CEO of Curql. “Our investment in Amount underscores this commitment. Amount’s innovative digital lending and deposit accounts platform is poised to improve lending for credit unions, making the process more efficient, accessible, and member friendly.”

“Amount has become one of the leaders in digital origination and decisioning software for banks,” said Kevin Marcus, Partner, Co-COO and Head of Strategic Operators at WestCap. “We’re proud to continue supporting Amount as they empower credit unions and other financial institutions to provide superior digital services to their members.”