US fintech Amount lands $30m in fresh funding to advance AI capabilities
Amount, a US-based digital origination and decisioning Software-as-a-Service (SaaS) platform, has bagged $30 million in its latest equity funding round.
US fintech Amount raises $30 million
The round saw participation from several existing backers including Hanaco Ventures, Growth Investing at Goldman Sachs, WestCap, and QED Investors.
Moreover, Curql, a coalition of credit unions investing jointly in fintech, has become a new investor in the company. The consortium recently co-led PortX’s $16.5 million Series B round.
Founded in 2020 and headquartered in Chicago, Illinois, Amount’s SaaS platform has been built to power consumer and small business deposit account opening and loan origination for banks and credit unions. The company claims its tech can help financial institutions optimise their customer acquisition, funnel and performance assessments, and risk analytics and enable them “to deliver new and differentiated offerings within months, not years”.
Amount says that its current clients collectively manage over $3.1 trillion in assets and serve more than 50 million customers across the US.
One notable client is Velera (formerly PSCU) in Florida, with whom Amount has partnered since 2022. Velera recently enlisted Amount’s support for the launch of its new digital lending suite, Origination Solutions.
The firm plans to use the new funds to advance its artificial intelligence and machine learning capabilities and fuel its further expansion into the credit union market.
