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Amount hits unicorn status

Amount hits unicorn status

Digital banking technology provider Amount has joined the unicorn club thanks to a $100 million Series D funding round.

WestCap, Hanaco Ventures, Goldman Sachs, Invus Opportunities and Barclays Principal Investments joined the round, which sees Amount hit a $1 billion-plus valuation in only 16 months. The round also represents over a 50% increase in valuation from the Goldman Sachs-led $86 million Series C announced in late 2020.

Amount provides retail banking and point-of-sale technology to clients including Banco Popular, HSBC, Regions Bank and TD Bank, helping them transition to digital financial services.

Last month it scored a deal with Barclays US to offer merchants a white label point-of-sale buy now, pay later financing service.

The new funding will be used to accelerate hiring in the company's product, technology and sales groups while pursuing accretive merger and acquisition opportunities.

Adam Hughes, CEO, Amount, says: "The additional capital clearly demonstrates the value our investors see in Amount's ability to accelerate digital transformation in the banking and ecommerce industries through our robust retail banking suite and buy now, pay later platforms."

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