The amount was undisclosed, but the latest investment for MX (formerly MoneyDesktop) reportedly takes the company’s total capital to $20 million.
“We are thrilled to be partnered with those that are on the side of innovation,” Ryan Caldwell, MX CEO and founder said in a statement. “And we are humbled to be a critical part of making that shift possible.”
More is known about the investors than the investment – though the company’s previous funding total
of more than $11 million suggests that the current investment is around $8-9 million. Speaking for one of the investors, TTV Capital’s Mark Johnson, referred to MX as “the kind of innovation and company that only comes along so often,” and praised how MX was able to deliver a “truly engaging” experience across platforms.
Also participating alongside TTV Capital were Commerce Ventures and North Hill Ventures.
Formerly known as MoneyDesktop, MX specializes in helping banks provide cross-platform banking and financial management experiences to their clients and customers. A Finovate multiple Best of Show award winner, MX launched a pair of products
in September – Helios
These technologies not only provide FIs with the technology they need to make their banking apps deployable on a wider variety of devices. They also make it possible for FIs to reach beyond their current customer base and expand their market reach.
“For the first time in banking history,” Caldwell explained from the Finovate stage last month. “not only your account holders, but non account holders (can) download and use your app. This allows you to quickly, easily, and cost-effectively cast a wide net across all the potential account holders you don’t yet have, but want.”
In addition to the funding news, MX announced seven new clients with assets of $74 billion combined.
- America First Credit Union
- ATB Financial
- BECU (Boeing Employees Credit Union)
- Cadence Bank
- LGFCU (Local Government Federal Credit Union)
- Washington Federal
- Wilson Bank and Trust