• Method has enabled 30 million credentialless account connections for 4 million individuals
• The Series B financing is led by Emergence, with participation from avra and Samsung Next, and existing investors Andreessen Horowitz, YC and Ardent
• Method is doubling down on its identity-driven connectivity to power embedded end-to-end loan refinancing capabilities and accelerating its expansion into credit card connectivity and network transaction data

AUSTIN, Texas: Method Financial, a first-of-its-kind provider of consumer permissioned financial connectivity, raised $41.5 million in its latest Series B funding round led by Emergence Capital with participation from avra and Samsung Next, and existing investors Andreessen Horowitz, Y-Combinator and Ardent Venture Partners. This most recent fundraise brings the total funding to $60 million.

Today, Method powers more than 60 fintech and consumer lending clients, including SoFi, Figure, Aven, Happy Money, and Bilt Rewards. Since its launch, Method has enabled 30 million passwordless account connections for 4 million consumers. The company has also facilitated over $500 million in liability repayments, helping customers deliver competitive lending and financial products and end users save on interest and fees.

Method’s APIs redefine financial connectivity with real-time, read-write, and frictionless access to consumer liability data with integrated payment rails. Method leverages integrations with over 15,000 financial institutions to stream up-to-date, high fidelity data from users’ accounts and to facilitate payment to them. Method’s innovative approach uses identity-based authentication and consumer consent instead of usernames and passwords for a near frictionless experience and 15-30% conversion boost.

"Method's strength lies in the broad usability of its data and payment products across a wide range of industries and verticals,” said Anu Hariharan, Managing Partner of avra. “Initially, Method enabled lenders to offer competitive financial products by providing real-time visibility into consumer debts. Now, they are increasingly expanding their reach, supporting new use cases like card linking and new verticals like retail and travel. We are thrilled to partner with Jose, Mit, and the Method team."

This latest round of funding enables Method to accelerate its delivery of end-to-end loan refinance automation and expand into use cases unlocked by deeper card network integrations. Today, Method primarily helps fintechs and lenders increase refinancing revenue by increasing offer personalization, boosting user engagement through real-time insights, and accelerating line utilization through seamless loan payoffs and balance transfers.

“Method is revolutionizing financial management by providing real-time, comprehensive views of consumer debts, essential for making informed financial decisions. Their innovative solutions seamlessly integrate with financial platforms, enhancing the user experience and driving engagement,” said Carlotta Siniscalco, Partner at Emergence Capital. “We are excited to support Method as they empower consumers and transform the fintech landscape.”

Method has further seen strong market demand for its new credit card connectivity solution, Card Connect, and its transaction-level data, a testament to the composability of its APIs. Since launching Method Card Connect for Bilt Rewards, 2 million users have connected 10 million cards in seconds and can receive points on eligible purchases. With the additional capital from the raise, Method plans to deepen its banking relationships to deliver more competitive financial products and seamless experiences, expand credit card network integrations to streamline checkout, and make digital engagement solutions more rewarding.

“Our latest round of funding will help us build on Method’s already strong growth trajectory. Our team takes immense pride in supporting millions of Americans on their financial journeys while helping lenders and fintechs increase conversion with better user experience and engagement,” said Jose Bethancourt, co-founder and CEO of Method. “As we serve new markets with our growing data and payment capabilities, we are thrilled to collaborate with Emergence and avra, as well as our existing investors, including Andreessen Horowitz, YC, and other leading stakeholders in fintech.”

About Method Financial

Method’s APIs are redefining financial connectivity with real-time, read-write, and frictionless access to all consumer liability data with integrated payment rails. Method helps lenders increase revenue by streamlining customer acquisition, improving underwriting accuracy, and increasing line utilization through balance transfers, all without user credentials. Today, Method powers solutions for over 60 fintechs, lenders, and FIs including Sofi, Aven, Bilt, Happy Money, and Figure. Method is backed by Andreessen Horowitz, Emergence Capital, YC, avra, Ardent, and Truist Ventures amongst others. To learn more, visit https://methodfi.com.

Fonte: Business Wire