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Amount
Fintech
Amount is a Chicago-based fintech company that provides digital banking and lending software allowing banks and credit unions to offer online account opening and loan origination.
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Amount was spun out in 2020 from Avant, a consumer lending company, to commercialize the technology platform Avant had built internally for digital lending and later expanded to cover broader digital banking needs for financial institutions. Rather than lending directly to consumers itself, Amount licenses its software to banks and credit unions, letting them offer their own branded digital experiences for consumer and small business lending, deposit account opening, and buy-now-pay-later style point-of-sale financing, without needing to build that technology in-house or rely entirely on a single fintech partner for their digital strategy. Amount's platform handles much of the underlying complexity involved in digital financial products, including identity verification, credit decisioning and underwriting workflows, fraud detection, and regulatory compliance processes, which historically required banks to either build extensive in-house engineering teams or work with a patchwork of point vendors. The company's customers include a number of regional and super-regional U.S. banks looking to modernize their digital lending and account-opening experiences to compete with fully digital-native fintech challengers, as well as credit unions seeking similar capabilities at a scale appropriate to their smaller size. Amount also built out merchant-facing point-of-sale lending capabilities aimed at retail and e-commerce checkout financing, competing in that segment with buy-now-pay-later players like Affirm and Klarna, while its core banking-technology business competes with other digital banking platform vendors such as Backbase, Mambu, and nCino. Amount has raised substantial venture funding from investors including Goldman Sachs, Invus Opportunities, and Hanaco Ventures, reaching unicorn status shortly after its spinout from Avant.
FOR QUALIFIED INSTITUTIONAL AND ACCREDITED INVESTORS ONLY: Under federal securities laws, private market investments on this platform are available exclusively to Institutional and Accredited Investors. Verification of status required before investing. Private investments involve significant risks including illiquidity, potential loss of principal, and limited disclosure requirements. "Augment" refers to Augment Markets, Inc. and its affiliates. Augment Markets, Inc. is a technology company offering software and data services, not a bank or financial institution. Cash Accounts are provided by Modern Treasury Corp. financial institution partners and through Augment's technology. Augment does not act as a money services business, provide money transmission, or serve as a custodian of funds. Funds held in your Cash Account are not FDIC insured unless expressly disclosed. Full terms available in the Augment Cash Account Agreement. Brokerage services are offered through Augment Capital, LLC, an affiliated broker-dealer and member FINRA/SIPC. "Investment accounts" are not brokerage accounts and do not hold customer funds or securities. Investment advisory services are offered through Augment Advisors, LLC, an SEC-registered investment adviser. Registration with the SEC does not imply a certain level of skill or training. Neither Augment Advisors, LLC nor Augment Capital, LLC provide legal or tax advice; consult your attorney or tax professional regarding your specific situation. For additional information, please refer to Augment Advisors, LLC's Form ADV Part 2A (Firm Brochure) and FINRA BrokerCheck.
