# Amount

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/amount

- Industry: Software
- Headquarters: Chicago, US
- Website: www.amount.com
- Total disclosed funding: $263M
- Latest round: Series E (Jul 31, 2024)
- Investors on record: 10

## About

Based in the US, Amount Inc. is a fintech company focused on enhancing digital lending and account opening for banks and credit unions through innovative technology solutions.Amount Inc. specializes in providing a unified platform that simplifies digital lending and account opening for financial institutions. Founded in 2020 and headquartered in Chicago, US, the company has completed 6 deals, with its most recent deal occurring on July 31, 2024. Amount raised USD 24.576 mn in its Series E funding round, with investments from Curql and returning backers including Goldman Sachs Merchant Banking Division, Hanaco Venture Capital, QED Investors, and Westcap. The company was founded by Adam Hughes, who has a history of founding and leading other fintech initiatives.Amount offers a comprehensive unified platform specifically designed to streamline digital lending and account opening processes for banks and credit unions. The core product suite includes tools that enable financial institutions to effectively assess and manage risks, prevent fraud, and maintain compliance with regulatory standards. The platform is tailored for both consumer and small business accounts, enhancing the user experience by facilitating intuitive account opening and loan origination. Target customers include banks and credit unions across various geographical markets, including North America and select regions in Europe, with a focus on delivering seamless, personalized services to meet the unique needs of their members and clients. Amount’s product offerings empower large lenders with end-to-end capabilities, making them well-suited for a diverse client base that includes both individual consumers and small businesses.The revenue structure of Amount is primarily driven by its subscription-based model, which involves partnerships with financial institutions that leverage its platform for digital lending and account services. Clients typically engage on a contractual basis, paying for access to the platform’s capabilities, which include risk assessment tools, fraud prevention measures, and compliance management services. These contractual agreements may involve tiered pricing based on the volume of transactions processed or the range of services utilized, ensuring scalability and adaptability to each client’s needs. While specific pricing plans for individual services are not disclosed, the revenue is generated from ongoing partnerships that reflect the value provided to banks and credit unions through enhanced operational efficiencies and improved customer experiences. Such transactions solidify Amount’s position in the B2B sector, facilitating a robust ecosystem for financial service delivery.In July 2024, Amount, Inc. raised USD 24.576 mn in Series E funding from new investor Curql, with participation from returning investors Goldman Sachs Asset Management, Westcap, Hanaco Venture Capital, and QED Investors. The company will utilize this funding to innovate its current artificial intelligence and machine learning capabilities. Amount plans to develop new products that enhance user experience and expand into additional markets, focusing on deepening its presence in Europe and exploring opportunities in Asia by the end of 2025.

## Funding rounds

- Series E, Jul 31, 2024, $25M — Westcap, Goldman Sachs Asset Management, QED Investors, Hanaco Venture Capital, Curql
- Series H, May 18, 2021, $99M — Barclays Private Bank, Goldman Sachs Asset Management, Invus Financial Advisors, Hanaco Venture Capital, Westcap Management
- Series C, Dec 2, 2020, $81M — August Capital, Invus [DUP], Barclays Private Bank, Goldman Sachs Asset Management, Hanaco Venture Capital
- Series B, Mar 1, 2020, $58M — QED Investors

## Investors

- QED Investors (https://capitalatlas.ai/funds/qed-investors) — Series B, Series E
- August Capital (https://capitalatlas.ai/funds/august-capital) — Series C
- Invus [DUP] — Series C
- Barclays Private Bank — Series C, Series H
- Goldman Sachs Asset Management (https://capitalatlas.ai/funds/goldman-sachs-asset-management) — Series C, Series H, Series E
- Hanaco Venture Capital (https://capitalatlas.ai/funds/hanaco-venture-capital) — Series C, Series H, Series E
- Invus Financial Advisors (https://capitalatlas.ai/funds/invus-financial-advisors) — Series H
- Westcap Management (https://capitalatlas.ai/funds/westcap-management) — Series H
- Westcap (https://capitalatlas.ai/funds/westcap) — Series E
- Curql (https://capitalatlas.ai/funds/curql) — Series E