WestCap, a growth equity company, led the round. Hanaco Ventures, Goldman Sachs, Invus Opportunities, and Barclays Principal Investments also participated. The investment comes just over five months after Amount raised USD 86 million in a Series C round led by Goldman Sachs Growth, at a valuation of USD 686 million.
Amount plans to use its new capital to further accelerate R&D by investing in its technology and products. It also will be eyeing some acquisitions.
According to TechCrunch, Amount’s mission is to help financial institutions go digital and better compete with fintech rivals. Specifically, the company has built a retail banking and point-of-sale technology that it claims accelerates digital transformation for financial institutions.
HSBC, TD Bank, Regions, Banco Popular and Avant are among the banks that use Amount’s technology to simplify their transition to digital financial services.
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