Amount joined the Unicorn Club on May 18, 2021, after raising a $100 million Series D funding round led by WestCap, valuing the company at $1 billion. Headquartered in Chicago, Illinois, United States, Amount provides omnichannel banking technology for banks and lenders, offering mobile-first solutions for personal loans, credit cards, and point-of-sale financing.
Keep reading to learn how Amount became a billion-dollar fintech innovator powering digital transformation for banks and financial institutions worldwide.
What Is Amount and What Does It Do?
Founded in 2014, Amount develops cloud-based banking technology that enables traditional financial institutions to compete with modern digital lenders. Its flagship product, Amount360, provides tools for identity verification, fraud prevention, decisioning, and analytics, all within an end-to-end omnichannel platform.
The company’s white-label solutions enable banks to quickly launch personal loan and credit products, manage risk, and optimize customer acquisition. Amount also supports point-of-sale financing, allowing banks to offer buy-now-pay-later (BNPL) products under their own brand.
How Much Funding Has Amount Raised?
- Series D and Earlier Rounds
- Cumulative Funding: ~$252 million
- Key Investors: WestCap, DFJ Growth, General Atlantic
- Purpose: Scale its banking-as-a-service platform, expand fraud detection and risk management solutions, and enhance omnichannel lending technology.
Total Funding Raised: ~$252 million
Latest Funding Date: July 31, 2024
Latest Known Valuation: ~$1 billion
Employee Count: 626 (as of Dec 31, 2022)
Stage: Acquired
Key Investors
- WestCap
- Details: Growth equity firm investing in technology-driven companies transforming financial services.
- Focus Areas: Fintech, digital infrastructure, and enterprise SaaS.
- DFJ Growth
- Details: Venture capital firm backing late-stage technology companies.
- Focus Areas: Financial technology, AI, and enterprise platforms.
- General Atlantic
- Details: Global growth equity firm supporting innovation across multiple sectors.
- Focus Areas: Fintech, consumer tech, and data-driven enterprises.
Where Is Amount’s Headquarters?
Amount is headquartered in Chicago, Illinois, United States, where its operations focus on financial product innovation, technology development, and partnerships with major banks and lenders.
What’s Next for Amount?
Now part of a larger fintech ecosystem, Amount aims to further enhance its fraud detection and credit decisioning tools while integrating advanced analytics to improve risk management. The company continues to assist banks in modernizing their digital lending capabilities and adapting to the evolving financial landscape.
Get Investor & Funding Insights with TexAu
TexAu provides verified investor and funding data for companies like Amount. Explore insights on fintech startups driving innovation in banking and digital lending.
Sign up for Free on TexAu to access real-time investor and funding intelligence.
