US fintech firm Amount has secured $81m investment in a Series C funding round to develop its retail banking and point-of-sale (POS) technology.
The funding round was led by Goldman Sachs. It was also joined by the company’s existing backers including August Capital, Invus Opportunities and Hanaco Ventures.
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Goldman Sachs growth equity platform GS Growth VP Jade Mandel added: “Amount enables banks to navigate digital transformation through its modular and mobile-first platform for financial products.
“We are excited to partner with the team as they take on this compelling market opportunity.”
The latest funding round follows Series B funding round led by QED Investors managing partner Nigel Morris, earlier this year.
Amount CEO Adam Hughes said: “With the pressure to provide world-class origination and account management experiences to customers and buy-now-pay-later tools to important merchant partners, banks need a proven platform for quickly going digital, delivering a seamless customer experience and driving growth without disruption.
“We are honoured that Goldman Sachs and our other investors are backing Amount with capital that will help us continue to develop and deliver technology that pushes the envelope and helps our bank partners expand digitally and grow with ease.”
Amount offers an omnichannel retail banking experience and a POS financing product suite besides fraud prevention, verification, decisioning engines, and account management.
Its client base includes banks such as Banco Popular, HSBC, Regions Bank and TD Bank.
It empowers them to deliver new products and improve customer experiences, while saving costs and enhancing operational efficiencies.
