About MX
MX is a company based in Lehi (United States) founded in 2010 by Ryan Caldwell and Brandon Dewitt. It operates as a API-as-a-Product, and Data-as-a-Service. MX has raised $540.87 million across 12 funding rounds from investors including National Bank of Canada, Regions Bank and TPG. The company has 481 employees as of December 31, 2020. MX has completed 2 acquisitions, including MoneyReef and MyJibe. MX offers products and services including Connectivity, Data Enhancement, and Experience. MX operates in a competitive market with competitors including Plaid, Belvo, Rutter, Spade and FinTecSystems, among others.
- Headquarter Lehi, United States
- Employees 481 as on 31 Dec, 2020
- Founders Ryan Caldwell, Brandon Dewitt
- Stage Unicorn
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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
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- Legal Name Mx Technologies Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$540.87 M (USD)
in 12 rounds
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Latest Funding Round
$300 M (USD), Series C
Jan 13, 2021
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Investors
National Bank of Canada
& 23 more
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Employee Count
481
as on Dec 31, 2020
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Investments & Acquisitions
MoneyReef
& 1 more
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Products & Services of MX
MX offers a comprehensive portfolio of products and services, including Connectivity, Data Enhancement, and Experience. 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.
Financial data is connected securely for institutions and fintechs.
Financial data is enhanced with context and actionable insights.
Personalized financial experiences are built using MX APIs and tools.
Unlock access to complete
Funding Insights of MX
MX has successfully raised a total of $540.87M across 12 strategic funding rounds. The most recent funding activity was a Series C round of $300 million completed in January 2021. 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 12
- Last Round Series C — $300.0M
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First Round
First Round
(29 Apr 2010)
- Investors Count 24
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan, 2021 | Amount | Series C - MX | Valuation | TPG | |
| Jun, 2019 | Amount | Series B - MX | Valuation | Battery Ventures | |
| Jun, 2018 | Amount | Series B - MX | 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 MX
MX has secured backing from 24 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include National Bank of Canada, Regions Bank and TPG. 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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Fund of funds focused on pre-seed and seed-stage companies
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Founded Year | Domain | Location | |
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Growth-stage companies are invested in by CapitalG, Alphabet's independent fund.
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Founded Year | Domain | Location | |
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Growth-stage tech investments are targeted in the US and Japan.
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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 MX
MX has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include MoneyReef and MyJibe. 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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Mobile app for personal finance management
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2011 | ||||
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Personal financial management platform is utilized by consumers and banks.
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2010 |
| 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 - MX
| 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 |
Mx Comparisons
Competitors of MX
MX 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 Plaid, Belvo, Rutter, Spade and FinTecSystems, 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 |
Open banking aggregation APIs are provided for individuals and businesses.
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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 |
Finance and accounting management is facilitated via an API platform.
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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 API solutions are offered to financial institutions.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| 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 Mx
Frequently Asked Questions about MX
When was MX founded?
MX was founded in 2010.
Where is MX located?
MX is headquartered in Lehi, United States. It is registered at Lehi, Utah, United States.
Who is the current CEO of MX?
Ryan Caldwell is the current CEO of MX. They have also founded this company.
Is MX a funded company?
MX is a funded company, having raised a total of $540.87M across 12 funding rounds to date. The company's 1st funding round was a Series B of $75M, raised on Apr 29, 2010.
How many employees does MX have?
As of Dec 31, 2020, the latest employee count at MX is 481.
What does MX do?
Financial data is leveraged by MX to empower institutions and fintechs. Solutions are offered in connectivity, data enhancement, and personalized experiences. Sectors served include banking and financial technology. Growth opportunities are identified through actionable insights. Consumer financial goals are supported via robust data engines. Engagement and loyalty are increased with tailored money experiences.
What products or services does MX offer?
MX offers Connectivity, Data Enhancement, and Experience.
Who are MX's investors?
MX has 24 investors. Key investors include National Bank of Canada, Regions Bank, TPG, Washington Federal, and CapitalG.
What is MX's valuation?
The valuation of MX is $1.9B as of Jan 2021.