The Amount company, which operates in the area of banking technologies, announced that it managed to raise investment funds for $30 million.
The mentioned firm intends to use the received financing to expand the scale of its business in the credit union sector. The company announced information about the raising of investments in a press release, which was published on Thursday, August 15. Also in this press release, Curq, a collective of credit unions jointly making financial injections in fintech firms, as a new strategic investor, is welcomed.
Adam Hughes, chief executive officer of Amount, said that the company has long recognized the unique opportunity of credit unions, which is to better serve its members by using digital channels to effectively provide credit products and deposit accounts. Also in this context, it was noted that the mentioned firm has historically achieved great success by interacting with large enterprise banks. Moreover, Adam Hughes stated that the latest round of financing provides the company with the opportunity to add tremendous value to thousands of credit unions, strengthening the relationships with their members.
The press release notes that the investments received correspond to the Amount’s goal of further expanding the scale of the firm’s presence in the United States credit union space. The company intends to use the new funding to improve its capabilities in artificial intelligence and machine learning.
Since 2022, Amount has been cooperating with the organization providing credit union services, Velera (formerly PSCU). As part of this interaction, the company can provide its customers with solutions for issuing digital credit cards. This year, the parties to the mentioned collaboration joined forces to launch a package of digital lending suite known as Origination Solutions.
As we have reported earlier, Aveni Raises $14 Million.
