About Finicity
Finicity is a company based in Salt Lake City (United States) founded in 1999 by Steven Smith was acquired by Mastercard in June 2020.. Finicity has raised $71.06 million across 3 funding rounds from investors including Experian, Mastercard and Bridge Bank. The company has 554 employees as of April 01, 2024. Finicity has completed 1 acquisition, including Aurora Financial Services. Finicity offers products and services including Lend, Assets, Pay, and Manage. Finicity operates in a competitive market with competitors including MX, Plaid, Rutter, Belvo and Spade, among others.
- Headquarter Salt Lake City, United States
- Employees 554 as on 01 Apr, 2024
- Founders Steven Smith
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Finicity Technologies Private Limited
- Date of Incorporation 17 Jun, 2005
- Jurisdiction Thane, Maharashtra, India
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Annual Revenue
$25.18 M (USD)111.54as on Mar 31, 2023
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Net Profit
$2.68 M (USD)121.47as on Mar 31, 2023
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EBITDA
$4.92 M (USD)120.63as on Mar 31, 2023
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Total Equity Funding
$71.06 M (USD)
in 3 rounds
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Latest Funding Round
$29 M (USD), Series B
Jul 23, 2018
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Investors
Experian
& 2 more
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Employee Count
554
as on Apr 01, 2024
- Investments & Acquisitions
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Acquired by
Mastercard
(Jun 23, 2020)
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Products & Services of Finicity
Finicity offers a comprehensive portfolio of products and services, including Lend, Assets, Pay, and Manage. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Provides FCRA-compliant data for lending decisions and verification.
Offers cleaned and aggregated account data for financial analysis.
Enables account data for payments and fraud prevention services.
Handles categorized transaction data for business insights.
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Funding Insights of Finicity
Finicity has successfully raised a total of $71.06M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $29 million completed in July 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series B — $29.0M
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First Round
First Round
(21 Apr 2014)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2018 | Amount | Series B - Finicity | Valuation |
investors |
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| Oct, 2016 | Amount | Series B - Finicity | Valuation | Experian | |
| Apr, 2014 | Amount | Unspecified - Finicity | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Finicity
Finicity has secured backing from 3 investors, including institutional investors. Prominent investors backing the company include Experian, Mastercard and Bridge Bank. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Experian is recognized as a leader in credit reporting and financial services.
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Founded Year | Domain | Location | |
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Commercial bank
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Founded Year | Domain | Location | |
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Global payments are processed via card network connections.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Finicity
Finicity has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Aurora Financial Services. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Prepaid debit programs are managed and processed for corporations.
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2009 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Finicity
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Finicity Comparisons
Competitors of Finicity
Finicity operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as MX, Plaid, Rutter, Belvo and Spade, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Data-driven analytics and open banking APIs are provided to businesses.
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| domain | founded_year | HQ Location |
Open banking aggregation APIs are provided for individuals and businesses.
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| domain | founded_year | HQ Location |
Finance and accounting management is facilitated via an API platform.
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| domain | founded_year | HQ Location |
Open banking API solutions are developed for financial data aggregation.
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| domain | founded_year | HQ Location |
Data APIs for merchants, categories, and locations are provided online.
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| domain | founded_year | HQ Location |
Open banking APIs for transactional data aggregation
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Finicity
Frequently Asked Questions about Finicity
When was Finicity founded?
Finicity was founded in 1999 and raised its 1st funding round 15 years after it was founded.
Where is Finicity located?
Finicity is headquartered in Salt Lake City, United States. It is registered at Salt Lake City, Utah, United States.
Who is the current CEO of Finicity?
Steven Smith is the current CEO of Finicity. They have also founded this company.
Is Finicity a funded company?
Finicity is a funded company, having raised a total of $71.06M across 3 funding rounds to date. The company's 1st funding round was a Unspecified of $62.5K, raised on Apr 21, 2014.
How many employees does Finicity have?
As of Apr 01, 2024, the latest employee count at Finicity is 554.
What is the annual revenue of Finicity?
Annual revenue of Finicity is $25.18M as on Mar 31, 2023.
What does Finicity do?
Finicity was founded in 1999 and is headquartered in Salt Lake City, United States. Open banking aggregation API solutions are provided to the financial services industry. Transaction aggregation, account history aggregation, and statement aggregation are supported through these APIs. Verification services for ACH accounts, income, and assets are also available. Account creation and fraud mitigation are facilitated as part of the offerings.
Who are the top competitors of Finicity?
What products or services does Finicity offer?
Finicity offers Lend, Assets, Pay, and Manage.
How many acquisitions has Finicity made?
Finicity has made 1 acquisition, including Aurora Financial Services.
Who are Finicity's investors?
Finicity has 3 investors. Key investors include Experian, Mastercard, and Bridge Bank.
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