MX
“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
1 layer disclosed in MX’s embedded-finance stack
Open banking
Accounting gap: none