Methodology Monetary Raises $41.5 Million to Compete with Plaid, MX, and Finicity


  • Methodology Monetary has raised $41.5 million in Collection B funding.
  • The funding spherical, led by Emergence Capital and joined by traders like avra and Samsung Subsequent, brings Methodology’s whole funding to $60 million.
  • The corporate plans to make use of the funds to boost mortgage refinance automation, develop card community integrations, and deepen banking relationships.

Monetary connectivity API supplier Methodology Monetary has raised $41.5 million. The Collection B spherical was led by Emergence Capital. New traders avra and Samsung Subsequent additionally participated, together with current traders Andreessen Horowitz, Y-Combinator, and Ardent Enterprise Companions.

Right this moment’s spherical greater than doubles Methodology Monetary’s earlier funding whole, bringing the corporate’s whole funding to $60 million. The corporate will use at the moment’s spherical to speed up supply of its mortgage refinance automation and develop into different use circumstances that leverage card community integrations. It is going to additionally deepen its banking relationships to ship extra aggressive merchandise and develop bank card community integrations to streamline checkout.

“Our newest spherical of funding will assist us construct on Methodology’s already sturdy progress trajectory. Our workforce takes immense pleasure in supporting tens of millions of People on their monetary journeys whereas serving to lenders and fintechs enhance conversion with higher person expertise and engagement,” stated Methodology CoFounder and CEO Jose Bethancourt. “As we serve new markets with our rising knowledge and cost capabilities, we’re thrilled to collaborate with Emergence and avra, in addition to our current traders, together with Andreessen Horowitz, YC, and different main stakeholders in fintech.”

Methodology was based in 2021 to supply real-time, permissioned learn/write entry at 15,000 monetary establishments, with out requiring a shopper’s username and password. The corporate’s APIs energy end-to-end refinance experiences, real-time account knowledge entry, and one-click checkout for over 60 fintechs, lenders, and FIs together with Aven, Improve, SoFi, and PenFed. Since launch, Methodology has enabled 30 million passwordless account connections for 4 million shoppers and has facilitated over $500 million in legal responsibility repayments.

“Methodology’s energy lies within the broad usability of its knowledge and cost merchandise throughout a variety of industries and verticals,” stated avra Managing Companion Anu Hariharan. “Initially, Methodology enabled lenders to supply aggressive monetary merchandise by offering real-time visibility into shopper money owed. Now, they’re more and more increasing their attain, supporting new use circumstances like card linking and new verticals like retail and journey.”

Methodology just lately launched a brand new bank card connectivity answer known as Card Join, which provides transaction-level knowledge. Since launching Card Join, Bilt Rewards noticed two million customers join 10 million playing cards to earn factors on their eligible purchases.

Methodology just lately demoed at FinovateSpring 2024, the place it showcased its Join, Information, and Pay APIs. Through the demo, Methodology defined how the instruments basically function a single signal on (SSO) for all of a person’s liabilities with out exposing their private info.

Methodology Monetary matches into the rising ecosystem of monetary connectivity suppliers like Plaid, MX, and Finicity. Nevertheless, Methodology differentiates itself with its distinctive concentrate on liabilities and its write capabilities that allow integration and real-time updates. General, Methodology is suited to feed the growing demand for open banking APIs as shoppers, banks, and fintechs proceed to hunt real-time knowledge aggregation.


Photograph by Brett Sayles


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