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MX Technologies
Fintech
MX Technologies is a Utah-based financial data aggregation company that provides financial data aggregation and enrichment infrastructure for banks, credit unions, and fintech companies.
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MX Technologies was founded in 2010 by Ryan Caldwell and Brandon Dewitt, building financial data aggregation and analysis infrastructure that lets banks, credit unions, and fintech applications connect to and pull data from a customer's financial accounts held at other institutions, technology that has become foundational infrastructure underlying many modern financial applications, such as personal finance management tools that need to see a user's complete financial picture across multiple banks, budgeting apps, and various fintech lending and investment products that need visibility into a customer's existing financial accounts and transaction history to make informed decisions or provide comprehensive financial insights. MX's platform handles the technically complex and historically fragmented process of connecting to and retrieving standardized data from the very large number of different financial institutions a customer might have accounts with, then applies data cleansing and categorization to make that raw financial transaction data more useful for the applications built on top of it, such as automatically categorizing transactions into spending categories useful for budgeting applications, or providing verified income and asset data useful for lending decisions. The company has positioned itself particularly toward banks and credit unions themselves as customers, helping these financial institutions offer their own customers better financial data aggregation and money management tools directly within the bank's own digital banking app, competing for this bank and credit union customer base against other financial data aggregation providers including Plaid, which has built particularly strong relationships with fintech companies and startups needing to connect to customer bank accounts, and Yodlee, an earlier-generation financial data aggregation provider. MX has emphasized data quality and enhancement as key differentiators, arguing that the categorization and enrichment layered on top of raw aggregated financial data is as important as the underlying data connectivity itself for building genuinely useful financial applications. The company has raised substantial venture funding from investors including Alley Corp, Canapi Ventures, and Digital Garage, reaching a valuation exceeding $1.9 billion.
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.
