Financial Connectivity API provider Method Financial has recently secured $41.5 million in Series B funding, paving the way for further expansion and innovation in the fintech industry. This significant investment, led by Emergence Capital and supported by investors like avra and Samsung Next, brings Method’s total funding to an impressive $60 million.
Method Financial, founded in 2021, has quickly positioned itself as a key player in the financial connectivity space, offering real-time, permissioned access to 15,000 financial institutions without the need for consumers to disclose sensitive login information. This unique approach has enabled Method to power seamless loan refinance experiences, real-time account data access, and streamlined checkout processes for over 60 fintechs, lenders, and financial institutions including notable names like SoFi, Aven, and PenFed.
The recent funding round will fuel Method’s efforts to enhance its loan refinance automation, expand card network integrations, and deepen its banking relationships. By leveraging this investment, Method aims to deliver even more competitive products, provide better user experiences, and expand its reach into new markets and use cases.
Jose Bethancourt, Co-Founder, and CEO of Method Financial, expressed excitement about the company’s growth trajectory, emphasizing how the funding will support their mission of assisting millions of Americans on their financial journeys while empowering lenders and fintechs to enhance user engagement and conversion rates.
One of Method’s recent innovations, the Card Connect solution, has already seen significant success with Bilt Rewards attracting two million users who connected 10 million cards to earn points on eligible purchases. This success is a testament to Method’s commitment to providing cutting-edge solutions that meet the evolving needs of consumers and businesses in the digital economy.
Method Financial’s strategic positioning in the financial connectivity landscape sets it apart from competitors like Plaid, MX, and Finicity by focusing on liabilities and offering unique write capabilities for seamless integration and real-time updates. As the demand for open banking APIs continues to rise, Method is well-positioned to meet this need with its innovative approach and commitment to driving financial inclusion and accessibility.
In conclusion, Method Financial’s recent funding milestone marks a significant step in the company’s journey towards revolutionizing financial connectivity and empowering consumers and businesses with innovative solutions. As Method continues to expand its reach and capabilities, the future looks bright for this dynamic fintech startup.
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Frequently Asked Questions
- What is Method Financial’s core offering?
Method Financial provides real-time, permissioned access to 15,000 financial institutions without requiring consumers to disclose their login credentials. - How will Method use the recent funding?
The funding will be used to enhance loan refinance automation, expand card network integrations, and deepen banking relationships. - What sets Method Financial apart from its competitors?
Method differentiates itself by focusing on liabilities and offering unique write capabilities that enable seamless integration and real-time updates. - What recent innovation has Method introduced?
Method recently launched Card Connect, a credit card connectivity solution that offers transaction-level data, attracting significant user engagement. - How has Method’s success been demonstrated in the market?
Method has facilitated over $500 million in liability repayments and enabled 30 million passwordless account connections for 4 million consumers since its launch. - What is Method Financial’s vision for the future?
Method aims to continue expanding its reach into new markets and use cases, delivering competitive products and enhancing user experiences. - Who led the recent Series B funding round for Method Financial?
The Series B funding round was led by Emergence Capital, with participation from investors like avra and Samsung Next. - What impact does Method aim to have on the fintech industry?
Method seeks to drive financial inclusion and accessibility by empowering consumers and businesses with innovative financial connectivity solutions. - How does Method plan to collaborate with its investors moving forward?
Method looks forward to collaborating with Emergence, avra, and existing investors like Andreessen Horowitz and Y-Combinator to further accelerate its growth trajectory. - What success stories have emerged from Method’s partnerships?
Bilt Rewards saw two million users connect 10 million cards through Method’s Card Connect solution, illustrating the positive impact of the company’s innovative offerings.
