Rightfoot, a San Francisco, CA-based provider of a zero-login consumer-permissioned data product, raised $15M in Series A funding.
The round was led by Blue Lion Global and Renegade Partners with participation from Bain Capital Ventures, Box Group, and Kraken Ventures.
The company intends to use the funds to launch and expand access in new markets, as well as hiring across engineering, marketing, and more.
Led by CEO Dani Pensack, Rightfoot is building the standard API connection for consumer-permissioned data and payments. Rightfoot Connect Magic surfaces customer-permissioned and up-to-date banking and credit data, such as bank account balances, deposits, and withdrawals, credit card balances, and more. This data enables financial services providers to:
- Monitor accounts and enact early intervention: Avoid NSF fees and lower collections costs by knowing when to reach out to customers who need help
- Mitigate fraud and disputes: Make better decisions with enhanced visibility into chargebacks, payment disputes, customer identity, and more
- Increase personalization: Leverage up-to-date financial data to tailor product offerings, including proactively identifying customers eligible for refinancing
With a comprehensive and up-to-date financial picture of customers, lenders and financial institutions can make data-driven decisions to lower operational costs and drive growth through improved customer outcomes — increased borrowing power, greater ease-of-use, tailored repayment plans in times of need, fewer insufficient funds fees, proactive identification of customers eligible for refinance, and more.
FinSMEs
10/08/2023