Amount Raises $99M Series D at $1B+ Valuation to Power Bank Digitization

Amount, which spun off from online lender Avant in January 2020, closed a $99 million Series D round on May 17, 2021, at a valuation exceeding $1 billion, bringing its total capital raised to $243 million. The round was led by WestCap with participation from Hanaco Ventures, Goldman Sachs, Invus Opportunities, and Barclays Principal Investments. Amount provides enterprise software, APIs, and retail banking and point-of-sale technology designed to help traditional banks rapidly digitize their operations and compete with fintechs in areas such as retail lending and buy-now-pay-later.

The company's client roster includes major institutions such as HSBC, TD Bank, Regions, Banco Popular, Avant, and Barclays US Consumer Bank, collectively managing nearly $2 trillion in U.S. assets and serving over 50 million customers. With approximately 400 employees, Amount plans to invest the proceeds in R&D, product development, and potential acquisitions. The company anticipated significant revenue growth in 2021, reflecting broader demand from banks seeking embedded finance and digital lending capabilities.