← Embedded Finance Index 2026

MX

Also a provider — view MX’s profile →

“Can a data-quality-first aggregator carve out durable share against Plaid and Finicity by winning the incumbent bank and credit-union channel?”

Founded2010
HQLehi, Utah, United States
FoundersRyan Caldwell
Total raised$475M+
Latest roundSeries C, 2021
Valuation$1.9B (2021)
IndustryInfrastructure / Open banking

The story

MX started in 2010 selling personal financial management (PFM) tools to banks and credit unions, then pivoted into being a broader financial data platform — aggregating, cleansing, categorizing, and enriching bank transaction data. Today MX is best known as one of the major US open-banking / financial data aggregators alongside Plaid, Finicity, and Yodlee, powering data connectivity, account verification, and enrichment for banks and fintechs.

Last 12 months

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Product timeline

2010

Founded in Lehi, Utah, initially providing personal financial management software to banks and credit unions.· founding

2019

Raised $100M from Battery Ventures to expand from PFM into a data-centric financial analytics platform.· funding

2021

Raised $300M Series C led by TPG Growth to scale money experience platform; working with 2,000+ FIs and 43 of the top 50 digital banking providers.· funding

The stack

2 layers disclosed in MX’s embedded-finance stack

Open banking

MX (self-operated)

Transaction enrichment

in the full report

Accounting gap: none

1 more provider across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.

MX — frequently asked

Which open banking provider does MX use?

MX connects to bank accounts through MX (self-operated).

What is MX's embedded finance stack?

The Embedded Finance Index 2026 maps 2 layers in MX's stack: Open banking (MX (self-operated)); Transaction enrichment (MX (self-operated)).

Who founded MX?

MX was founded by Ryan Caldwell and is founded in 2010, headquartered in Lehi, Utah, United States.

How much funding has MX raised?

MX has raised $475M+ in total (latest round: Series C, 2021; valuation: $1.9B (2021)).

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