How Much Did MX Raise? Headquarters, Funding & Key Investors

MX, a Lehi-based open banking and data analytics company, has raised $610 million in total funding, reaching a $1.9 billion valuation in January 2021. The company’s latest Series C round of $300 million was led by TPG and CapitalG, with participation from investors like Greycroft, Pelion Venture Partners, and Point72 Ventures. Founded in 2010 by Brandon Dewitt and Ryan Caldwell, MX provides banks, credit unions, and fintech companies with open financial APIs, data enhancement tools, and intelligent analytics to power personalized digital banking experiences.

How Much Did MX Raise? Funding & Key Investors

MX is a leading provider of open banking APIs and financial data analytics solutions for financial institutions and fintechs. Its platform aggregates, enriches, and analyzes financial data to help businesses deliver personalized and insight-driven experiences. MX’s SaaS-based tools enable banks and credit unions to modernize mobile banking, improve customer engagement, and drive data transparency. Through secure data sharing and advanced analytics, MX empowers users and institutions to make smarter financial decisions while accelerating innovation in the open banking ecosystem.

What Is MX and What Does It Do?

MX, founded in 2010 by Brandon Dewitt and Ryan Caldwell, is a Lehi-based (United States) financial technology company specializing in data-driven analytics and open banking APIs.

MX employs around 481 professionals and provides an open financial data platform that helps banks, credit unions, and fintech firms aggregate and enhance customer data, derive actionable insights, and create seamless digital experiences. MX’s offerings include financial management, data enhancement, predictive analytics, and API solutions empowering the financial industry to innovate with data at scale.

How Much Funding Has MX Raised?

Series C
• Amount Raised: $300 million
• Date: January 2021
• Lead Investors: TPG, CapitalG, Geodesic Capital, Greycroft, Pelion Venture Partners, Canapi Ventures, Point72 Ventures, Cota Capital, Regions Bank, DG Ventures
• Motivation: To accelerate the development of open banking APIs, expand analytics tools, and grow partnerships with financial institutions.
Series B (Second Tranche)
• Amount Raised: $100 million
• Date: June 2019
• Lead Investors: Battery Ventures, H.I.G. Capital, Point72 Ventures, Sorenson Capital, Pelion Venture Partners, Industry Ventures, Cross Creek, TTV Capital, National Bank of Canada, Washington Federal, USAA, Commerce Ventures, DG Ventures
• Motivation: To strengthen MX’s data aggregation technology and expand enterprise partnerships across North America.
Series B (First Tranche)
• Amount Raised: $75 million
• Date: 2018
• Lead Investors: Undisclosed
• Motivation: To enhance customer data intelligence and scale infrastructure for growing client demand.

Total Funding Raised: $610 Million

Current Valuation: $1.9 Billion (as of January 2021)

Latest Funding Date: January 2021

Key Investors

CapitalG
• Details: The independent growth fund of Alphabet Inc. focused on late-stage technology investments.
• Investment Focus Areas: Fintech, AI, SaaS, and data-driven platforms.
• Notable Investments: MX, Stripe, Robinhood, and Airbnb.
TPG
• Details: A leading global private equity and venture firm with a diversified portfolio across sectors.
• Investment Focus Areas: Financial services, technology, healthcare, and sustainability.
• Notable Investments: MX, Airbnb, Uber, and Spotify.
Battery Ventures
• Details: A multi-stage venture capital firm investing in cutting-edge technology and software companies.
• Investment Focus Areas: SaaS, enterprise tech, and cloud infrastructure.
• Notable Investments: MX, Glassdoor, and Gainsight.
Point72 Ventures
• Details: The venture capital arm of Point72, investing in early-stage fintech and data analytics startups.
• Investment Focus Areas: Fintech, AI, and enterprise analytics.
• Notable Investments: MX, Alloy, and Carta.

Where Is MX’s Headquarters?

MX’s headquarters is located in Lehi, Utah (United States), a fast-growing technology hub known as Silicon Slopes.

What’s Next for MX?

MX plans to expand its open banking network globally and enhance AI-driven financial data enrichment to provide deeper insights for both users and institutions. The company is also focused on advancing financial inclusion through secure, consent-based data sharing. As the global demand for personalized banking experiences rises, MX aims to become the backbone of financial data connectivity for fintechs and enterprises worldwide.

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