CHICAGO, December 2, 2020 / PRNewswire / – Rising, a leading technology provider for financial institutions, today announced that it has been awarded a $ 81 million Series C investment led by Goldman Sachs Growth with participation from existing investors including August Capital, Invus Opportunities and Hanaco Ventures.
“Most banks are looking for resources and infrastructure to accelerate their digital strategy and meet the demands of today’s consumers,” said Jade Mandel, vice president of Goldman Sachs’ growth equity platform, GS Growth, who will join Amount’s board of directors. “Amount enables banks to navigate digital transformation through its modular and mobile platform for financial products. We are excited to partner with the team as they seize this fascinating market opportunity. “
Amount’s proven retail and point-of-sale technology accelerates the digital transformation of financial institutions, enabling them to deliver a secure and seamless digital customer and merchant experience while leveraging the verification and analysis capabilities of Amount world class. Leading financial institutions including Banco Popular, HSBC, Regions Bank and TD Bank are partnering with Amount to drive growth and streamline their transition to digital financial services.
Today’s funding announcement follows the company’s Series B round earlier this year, led by Nigel morris and the QED Investors team. “Amount is on the rise and the industry is taking notice,” Morris said. “The last round brings the total capital of Amount raised in 2020 to nearly $ 140 million, which will provide additional investment in platform research and development while accelerating the company’s go-to-market strategy. QED is thrilled to be a part of Amount’s story and we look forward to the company’s future success as it plays a vital role in the digitalization of financial services. “
Amount continues to fuel profitable decision-making, adapting existing systems and unifying data to expand the possibilities for financial institutions to deliver new products and better serve customers while unlocking efficiencies and savings. costs. Today, Amount offers omnichannel retail banking experiences and a strong suite of point-of-sale financing products, along with platform features such as fraud prevention, verification, decision engines and account management to improve existing products and services of its partners.
“With the pressure to provide world-class account creation and management experiences to customers, and buy-it-now and on-payment tools to major merchant partners, banks need a proven platform to move quickly. go digital, deliver a seamless customer experience and drive uninterrupted growth. ,” noted Adam Hugues, CEO of Montant. “We are honored that Goldman Sachs and our other investors are backing Amount with capital that will help us continue to develop and deliver technology that pushes boundaries and helps our banking partners grow digitally and grow easily. ”
FT Partners acted as advisor to Amount on this transaction.
For more information visit www.montant.com.
About the amount
Amount provides the technology financial institutions need to create and enhance the digital consumer experience. Designed by lending industry veterans, Amount helps partners go digital in months, not years, with omnichannel retail banking experiences and a strong suite of point-of-sale financing products backed by platform features including fraud prevention, verification, decision engines, and account management. Amount partners can optimize performance across all product categories by leveraging a variety of service offerings, including customer acquisition, funnel and performance assessments, and risk analysis. The customer base includes financial institutions that collectively manage nearly $ 2 million in US assets and serve more than 50 million US customers. Visit www.montant.com for more information.
About Goldman Sachs Growth
Founded in 1869, The Goldman Sachs Group, Inc. is one of the world’s leading investment banking, securities and investment management companies. Goldman Sachs’ Merchant Banking (MBD) division is the primary focus of the company’s primary long-term investing activities. As a member of MBD, Goldman Sachs Growth is the dedicated growth equities team within Goldman Sachs, with over 25 years of investment history, over 8 billion dollars of assets under management, and 9 offices around the world.