TPG and Alphabet’s CapitalG Join the MX Board of Directors to Accelerate the Future of Money Experience
Jon Winkelried, Co-CEO of TPG, and Mike Zappert, Partner at TPG Growth, join the MX Board
Derek Zanutto, General Partner at CapitalG, joins the MX Board having spent a decade investing in and advising companies such as Uber and Airbnb
SILICON SLOPES, UT – February 10, 2021 – MX, the leader in data-driven finance and creator of the Money Experience category, today announced that TPG and Alphabet’s independent growth fund, CapitalG, will join its Board of Directors to help accelerate the future of the Money Experience category. TPG and CapitalG bring a wealth of experience to the MX Board of Directors having invested in and advised many of the top fintechs and consumer brands, including Acorns, Airbnb, Credit Karma, LendingClub, Spotify, Stripe, Uber, and Varo. The board appointments follow TPG and CapitalG’s recently announced investment in MX.
“We are excited to welcome Jon Winkelried, Mike Zappert, and Derek Zanutto to the MX Board of Directors, and we look forward to working closely with them as we help organizations connect financial accounts and enhance their transaction data, transforming the way people interact with their money,” said Ryan Caldwell, Founder and CEO of MX. “The financial industry is at an inflection point as organizations accelerate their digital roadmaps and make interacting with money as intelligent and personalized as shopping on Amazon, streaming music on Spotify, or being driven by a Tesla.”
Jon Winkelried is the Co-Chief Executive Officer and a Partner at TPG. Prior to TPG, Mr. Winkelried was with the Goldman Sachs Group, Inc. for more than 27 years until he retired in 2009 as President and Co-Chief Operating Officer. Mike Zappert is a Partner at TPG Growth who leads software & enterprise technology investment and strategy across the TPG Growth and The Rise Fund platforms.
“MX is the leader in connecting financial institutions and technology companies with the world’s financial data and making that data actionable so organizations can grow their bottom line,” said Jon Winkelried, Co-CEO of TPG. “Data and innovation play a vital role in modernizing our financial system for today’s consumer, and we see MX as the engine driving that transition. We look forward to joining the Board of Directors and working closely with the MX leadership team to continue their success.”
Derek Zanutto is a General Partner at CapitalG and lead investor in the company’s data, security, and SaaS-based enterprise software portfolio companies. Formed in 2013, CapitalG has a long history in fintech investments such as Stripe, Robinhood, Credit Karma, Albert, and LendingClub. Prior to joining CapitalG, Mr. Zanutto spent a decade investing in companies such as Uber, Airbnb, Lynda.com, and CAA at investment firms TPG, Hellman & Friedman, and GIC.
“I am thrilled to join the MX Board of Directors to help the company transform the future of the financial industry and build the Money Experience category,” said Derek Zanutto, General Partner at CapitalG. “I’ll be working closely with the MX leadership team to help organizations everywhere accelerate their digital roadmap and launch experiences, products, and services that transform how people interact with their money.”
MX helps organizations everywhere deliver data-driven money experiences by connecting the financial ecosystem and turning raw, unstructured data into their most valuable asset. MX enhances financial data by cleansing, categorizing, and adding metadata that empowers organizations to deliver personalized experiences, reduce fraud, approve loans faster, and help customers save and invest smarter. Founded in 2010, MX is one of the fastest-growing fintech innovators, powering more than 2,000 banks, credit unions, fintechs, and technology companies, as well as 85% of digital banking providers, with a combined reach of over 200 million consumers. To learn more, follow us on Twitter and LinkedIn or visit www.mx.com.
About TPG Growth
TPG Growth is the middle market and growth equity investment platform of TPG, the global alternative asset firm. With approximately $15.4 billion of assets under management, TPG Growth targets investments in a broad range of industries and geographies. TPG Growth has the deep sector knowledge, operational resources, and global experience to drive value creation, and help companies reach their full potential. The platform is backed by the resources of TPG, which has approximately $85 billion of assets under management. For more information, please visit www.tpg.com or on Twitter @TPG.
CapitalG, Alphabet’s independent growth fund, invests in remarkable companies transforming the fields of consumer products and services, enterprise tech, cybersecurity, healthcare tech, insuretech, transportation and fintech. CapitalG partners with growth stage companies in their transition from startup to scale up through hands-on assistance from its in-house growth team and connections to Google’s engineering, product, marketing, sales and people operations experts worldwide. More than 2,000 Googlers and Alphabet leaders have already engaged with the companies in which we’ve invested, including Airbnb, Albert, Credit Karma, CrowdStrike, Duolingo, Lyft, MX, Oscar, Robinhood, Stripe, UiPath and Unqork, among others. Learn more at www.CapitalG.com.