Method Financial Secures $41.5M in Series B Funding to Enhance Financial Connectivity Solutions
Method Financial, a leading FinTech company based in the United States, has successfully raised $41.5 million in a Series B funding round. This financial connectivity firm is well-known for its innovative approach to consumer-permissioned services.
Funding Overview
The latest funding round was spearheaded by Emergence Capital, with significant contributions from Avra, Samsung Next, Andreessen Horowitz, Y Combinator, and Ardent Venture Partners, as reported by Finextra.
Innovative Financial Solutions
Method Financial specializes in providing application programming interfaces (APIs) that deliver real-time access to consumer liability data. Their platform integrates with over 15,000 financial institutions, allowing FinTech companies to access high-fidelity account data and facilitate seamless payments.
Key Features of Method’s Platform
- Identity-Based Authentication: Eliminates the need for traditional usernames and passwords.
- Streamlined Repayment Processes: Enhances user experience by simplifying payment methods.
- Extensive Connectivity: Powers over 60 lenders, including notable names like SoFi, Figure, Aven, Happy Money, and Bilt Rewards.
Impressive Achievements
Since its inception, Method has achieved remarkable milestones, including:
- Facilitated 30 million passwordless account connections for 4 million consumers.
- Processed over $500 million in liability repayments.
Future Plans and Enhancements
The company plans to utilize the new funding to expand its offerings into additional use cases and strengthen partnerships with banking institutions. Recently, Method introduced credit card connectivity, further enhancing its platform capabilities.
“Method is revolutionizing financial management by providing real-time, comprehensive views of consumer debts, essential for making informed financial decisions,” said Carlotta Siniscalco, partner at Emergence Capital. “Their innovative solutions seamlessly integrate with financial platforms, enhancing the user experience and driving engagement.”
To date, Method Financial has successfully raised a total of $41.5 million in funding, positioning itself as a key player in the financial technology landscape.
