Goldman Sachs Growth, the growth equity subsidiary of investment banking firm Goldman Sachs, led an $81m series C round for US-headquartered banking technology producer Amount on Wednesday.
Venture capital firm August Capital, private equity fund Invus Opportunities and VC fund Hanaco Ventures also participated in the round, which valued Amount at $681m post-money according to TechCrunch. FT Partners advised the company on the round.
Spun off by consumer lending platform Avant in February this year, Amount provides banking software and point-of-sale technology equipped with identity verification and analytics tools that help financial services firms with digital transformation.
Jade Mandel, vice-president of GS Growth, is taking a board seat at the company in connection with the round. She said: “Most banks are looking for resources and infrastructure to accelerate their digital strategy and meet the demands of today’s consumer.
“Amount enables banks to navigate digital transformation through its modular and mobile-first platform for financial products. We are excited to partner with the team as they take on this compelling market opportunity.”
The series C round follows a previously undisclosed series B round led by QED Investors earlier this year, and Amount said its overall funding for 2020 now stands at almost $140m.
