‘ The emergence of the open financial web and our ability to access and analyze
account data is enabling new thinking in financial services’, said Steve Smith CEO
and co-founder of Finicity’.
Finicity is a startup company which offers a podium for financial data sharing
recently announced a most important investment round led by credit reporting
Experian. Finicity has raised 42 million dollars in Series B funding which the firm
will utilize to add new members to its support teams. The company also
renowned that it plans to speed up an expansion of new solutions construct on its
real-time financial data podium used for analytics and aggregation. Finicity
manoeuvre Finicity data services which aggregate information like history,
verification, account data history and many other forms of financial data that can
be utilized by financial institutions and Fintech players to build up their own
‘Bridge bank is pleased to support Finicity in accelerating their business and
further development of solutions that enable financial institutions and developers
to deliver on the promise of data democratization’, said Kelly Cook Bridge bank
technology. Finicity said that it plans to utilize the capital for expansion of its
engineering and support teams to speed up the development of solutions
construct on its platform. As per the company, it will use funds for the growth of
Finicity data services and strengthen operations at Mvelopes which is an online
budget app and Aurora which is a payment processor and program manager.
Finicity also plans to provide solutions for credit decisions that would focus on
digitalizing the legacy pen paper process, reducing risk and improving accuracy.
Giant Experian led the funding round all along with a venture debt facility offered
by Bridge Bank technology banking many existing investors has also participated.