MX, a US outfit that promises to help banks, credit unions and fintechs use their data more effectively, has raised $100 million in a Series B funding round led by Battery Ventures.
HIG Growth Partners, Point72 Ventures, Sorenson Ventures, Pelion Venture Partners, and Cross Creek Capital joined the round alongside existing investors Industry Ventures, Digital Garage, TTV Capital, and Commerce Ventures, as well MX customers National Bank of Canada and Washington Federal Bank.
Founded in 2010, MX works with 2000 financial services firms to help them collect, structure and cleanse, analyse, visualise and act on disparate customer data - both internal and external.
The firm claims that internal studies show that users are experiencing up to four times growth in digital engagement, five times increases in deposit rate growth, and a 30% increase in net promoter scores.
Ryan Caldwell, CEO, MX, says: "This investment further validates and gives fuel to MX’s vision to empower the world to be financially strong by changing the way financial institutions serve their customers - all starting with enhanced data."