US-headquartered banking technology provider Amount has raised $99m in a series D round featuring investment bank Goldman Sachs and financial services firm Barclays’ Principal Investments unit, TechCrunch reported yesterday.
Growth equity firm WestCap led the round, which also included venture capital fund Hanaco Ventures and private equity fund Invus Opportunities.
The round values the business at just over $1bn and has increased its total funding to $243m.
Amount produces software and point-of-sale technology used by banks to accelerate the digitisation of their financial infrastructure. Its platform supports digital banking activities including account management, identity verification and data processing.
The company was spun off by consumer lending platform operator Avant in February 2020.
Amount will invest a portion of the series D proceeds in its technology and products and is also considering acquisitions.
Amount added $5m in series C financing from Barclays Principal Investments at an unspecified date, following an initial $81m tranche in December 2020 that was led by Goldman Sachs’ growth equity subsidiary, Goldman Sachs Growth, with participation from Hanaco Ventures, August Capital and Invus Opportunities.
Investment firm QED Investors led a $58m series B round for Amount in March 2020.