May 1, 2015
MX, a leading financial technology provider that enables its online banking, mobile banking, and financial institution partners to provide comprehensive solutions in Digital Money Management / Personal Financial Management (DMM/PFM) and omni-channel banking, has announced that it has raised $30 million in Series A financing, led by USAA via a subsidiary, with participation from Digital Garage, Inc. and others. This new financing brings their total funding to date to $50 million.
With these investments, MX plans to deepen partnership relations and advance its current product suite, featuring its Digital Money Management software, omnichannel framework, real-time data analytics, and cross-platform marketing solution. Each product enables partners and clients to provide an individually tailored financial management experience; it helps in promoting financial intelligence and wellness for customers while driving critical additional revenue for partners and clients.
MX currently bolsters more than 500 banks and credit unions through partnerships with industry-leading online and mobile banking providers. MX’s client base features financial institutions looking to revolutionize the customer banking experience in order to promote a robust customer-advocacy driven platform for money management.
The financial industry is in the middle of a massive division of those financial institutions who are helping to usher in the surge of innovation that is long overdue and those that are completely unprepared for it, said Ryan Caldwell, Founder & CEO of MX, in an official press release. We are thrilled to be partnered with and enabling those that are on the side of innovation, and we are humbled to be a critical part of making that shift possible. This industry will be unrecognizable in a matter of years, and the world, and those that helped lead the needed innovation, will be significantly better off as a result. Our alignment with these prestigious investors is just the beginning of an incredible surge forward for MX and the partners we serve.
MX is fundamentally changing how people interact with their money by enabling its partners to become true advocates for their customers. MX is redefining the way financial institutions connect with account holders by enabling its partners to deliver omni-banking technologies that create and support a true centralized, powerful and engaging omnichannel experience. As one of the fastest-growing financial technology providers, MX drives customer-centric banking relationships by offering a platform upon which online banking partners, mobile banking partners, and financial institution partners can create and deliver a next generation banking application and customer experience. By doing so, MX positions banks and credit unions at the forefront of the digital banking revolution and as account holders’ primary financial institution. MX currently partners with hundreds of financial institution partners and more than 30 mobile/online banking, core, and payment network partners.