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MOBILE & TELECOMMUNICATIONS | Mobile Software & Services / Accounting & Finance
amount.com

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Stage

Series D | Alive

Total Raised

$187.5M

Valuation

$0000 

Last Raised

$99M | 6 mos ago

Mosaic Score

+40 points in the past 30 days

What is a Mosaic Score?
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

About Amount

Amount helps banks and financial institutions modernize retail banking through a modern API framework that streamlines workflows and automates account originations across all products and channels. Amount360 provides banks with a 360-degree view of their customers by bringing together bank relationship data, 3rd party data sources, as well as Spring Labs blockchain network to instantly adjudicate customer risk profiles, generate mitigation strategies, and execute configurable mitigation workflows to authenticate customers.

Amount Headquarter Location

222 N LaSalle St Suite 1700

Chicago, Illinois, 60601,

United States

Latest Amount News

Credit-as-a-service firms bring changes to the loan market

Nov 21, 2021

Advantages of CaaS One of the advantages of CaaS is that it provides alternative data. In most cases, the clients are companies that have collected enormous amounts of data from their customers, and CaaS providers come in to help figure out how to utilize such data to determine how credit-worthy customers are. The data includes online behavior, activities on social media, call records, subscriptions, and more. This type of data differs from the data that conventional banks and financial institutions use for their credit scoring. Another great advantage of CaaS is digitalization. Many traditional financial institutions still handle loan applications and credit scoring processes using pen and paper. Therefore, CaaS providers are not just helping digital-native clients to provide loans, but also helping conventional banks and non-banks to digitize their lending services. Notable players in this field Ezbob: As a pioneer in the rapidly growing LaaS sector, Ezbob started in 2011 in the UK. It offers an open platform that enables financial institutions to build, launch, and operate financial products for their customers, drawing on the data-rich open banking environment. The company was able to reduce loan-servicing costs by up to 80%, allowing SME customers to receive a lending decision in as little as seven minutes with funds transferred on the same day—this made Ezbob a game-changer in the lending sector. Amount: Established in 2019 in the US, Amount has become a unicorn in less than two years. Similar to Ezbob, Amount helps financial institutions go digital in months. HSBC, TD Bank, Regions Bank, Banco Popular, and Avant are some of Amount’s clients. On the other hand, Amount also enables merchants to offer installment options under their brand. Recently, Barclays US Consumer Bank became one of the first major banks to partner with Amount to provide this type of white-labeled installment service. Liberis: Founded in 2007 in the UK, Liberis has provided over GBP 500 million (USD 672 million) in financing to 16,000 SMEs across Europe, the US, and the UK. It has then shifted toward B2B2B, now predominantly partnering with marketplaces, software providers, and acquirers such as Worldpay from FIS and Global Payments. These partners integrate with Liberis to offer personalized pre-approved revenue-based financing to their end customers. Roostify: Established in 2012 in the US, Roostify is a LaaS company that focuses on mortgage lending. Santander, TD Bank, and Colonial are among its clients. They utilize Roostify’s technology to analyze behavioral data and digitize their mortgage application process. Linear FT: Linear FT is focused on helping banks reinvent the business lending process. It provides a combination of software, analytic insights, and professional services to deliver a game-changing digital experience. As a wholly owned subsidiary of OnDeck, one of the largest online small business lenders, Linear FT draws on the heritage of USD 10 billion loaned over the last decade. Crezit: Crezit is one of the very few CaaS startups in Japan, if not the only one. The firm focuses on connecting traditional consumer loan lenders to digital native tech companies. Recently, it announced a partnership  with one of the largest consumer lending companies in Japan, ACOM. This article was authored by  Jonathan M. Hayashi , senior associate at Headline Asia. It is reposted here with permission from  Headline Asia . Share

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Research containing Amount

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CB Insights Intelligence Analysts have mentioned Amount in 2 CB Insights research briefs, most recently on Jul 8, 2020.

Expert Collections containing Amount

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Amount is included in 6 Expert Collections, including In-Store Retail Tech.

I

In-Store Retail Tech

1,343 items

Startups aiming to work with retailers to improve brick-and-mortar retail operations.

B

Banking

1,174 items

U

Unicorns- Billion Dollar Startups

917 items

B

Blockchain

3,461 items

Companies and startups in this collection leverage blockchain technology for crypto investing and trading, decentralized finance (DeFi), NFTs, and more.

D

Digital Lending

1,243 items

This collection contains companies that provide alternative means for obtaining a loan for personal or business use and companies that provide software to lenders for the application, underwriting, funding or loan collection process.

F

Fintech

7,165 items

US-based companies

Amount Patents

Amount has filed 2 patents.

The 3 most popular patent topics include:

  • Automotive accessories
  • Automotive safety technologies
  • Automotive technologies
patents chart

Application Date

Grant Date

Title

Related Topics

Status

10/14/2015

9/13/2016

GPS navigation devices, Videotelephony, Mobile computers, Windows administration, Personal computers

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Application Date

10/14/2015

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Grant Date

9/13/2016

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Related Topics

GPS navigation devices, Videotelephony, Mobile computers, Windows administration, Personal computers

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