MX, a Silicon Slopes, UT-based data-driven finance company, raised $300m in Series C funding round.
The round was led by a $150m investment from TPG Growth with additional participation from new and existing investors including CapitalG, Geodesic Capital, Greycroft, Cota Capital, Canapi Ventures, Digital Garage, Point72 Ventures, and Pelion Venture Partners, along with Regions Financial Corp.
The company intends to use the funds to expand operations and its business reach.
Founded in 2010 by Ryan Caldwell, CEO, MX helps organizations connect to the world’s financial data and turn raw, unstructured data into valuable asset to deliver new experiences, increase top line growth, and build brand loyalty. MX enhances financial data by cleansing, categorizing and adding additional metadata that empowers organizations to reduce fraud, approve loans faster, and help customers save and invest smarter.
In the last 12 months, the company has increased its market valuation to $1.9 billion, powering more than 2,000 banks, credit unions, fintechs, and technology companies, as well as 85% of digital banking providers, with a combined reach of over 200 million consumers.