Originally Published on January 13, 2021
MX Technologies Inc., one of the largest providers of consumer financial data, said its valuation has quadrupled in the last year to $1.9 billion after raising $300 million from venture capital firms.
The latest round was led by TPG Growth along with participation from other investors including Point72 Ventures and Regions Financial, the Lehi, Utah-based firm said Wednesday in a statement. The company plans to use the proceeds to invest “heavily” in its engineering and product teams as well as marketing and sales, Chief Executive Officer Ryan Caldwell said in an interview.
“The pandemic essentially had the world accelerate its shift to digital -- we had all our partners lean in more and say we know we need to transition faster than we already were to a digital environment.”