About
MX is a leading open finance data platform competing with Plaid. Valued at $1.9B with $610M raised including $300M Series C led by TPG. Powers 300K+ data sharing connections across 16K+ financial institutions. Customers include 85+ of top 100 US digital banking providers. AI-driven transaction cleansing and categorization with 98%+ accuracy. Founded 2010 in Lehi, Utah. 800+ employees.
Key Facts
- [1]Founded: Founded in 2010 in Lehi, United States.
- [2]Funding: Total funding: $610M. Last round: 2021. Stage: Late Stage.
- [3]Valuation: Valued at $1.9B.
- [4]Employees: Employee count: 501-1,000.
- [5]Revenue: Annual revenue/ARR: approximately $95M.
- [6]Website: Official website: mx.com.
- [7]AI Technology: Core AI/ML technologies: Data Platform.
- [8]Region: Region: Americas (United States).
Founders
Ryan Caldwell
Founder & CEO
Brandon Dewitt
Co-founder
AI Technology
Data Platform
Data aggregation and enrichment platforms with minimal ML
Classification
Tech Stack Layers
Details
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Frequently Asked Questions
What is MX?
MX is a leading open finance data platform competing with Plaid. Valued at $1.9B with $610M raised including $300M Series C led by TPG. Powers 300K+ data sharing connections across 16K+ financial institutions. Customers include 85+ of top 100 US digital banking providers. AI-driven transaction cleansing and categorization with 98%+ accuracy. Founded 2010 in Lehi, Utah. 800+ employees. MX is classified in the Banking & Payments segment at the Data layer of the financial AI stack.
Who founded MX?
MX was founded by Ryan Caldwell (Founder & CEO) and Brandon Dewitt (Co-founder) in 2010 in Lehi, United States. The company has been operating for 16 years.
How much funding has MX raised?
MX has raised $610M in total funding, placing the company at the Late Stage stage. The most recent round closed in 2021. The company is valued at approximately $1.9B. MX generates approximately $95M in annual revenue. Among 38 funded Banking & Payments companies, MX ranks #12 by total capital raised. (Source: AIFI Map directory.)
What AI technology does MX use?
MX primarily leverages Data Platform technology. Data aggregation and enrichment platforms with minimal ML. Within the Banking & Payments segment, 1 companies use this technology.
What market segment does MX operate in?
MX operates in the Banking & Payments and Lending & Credit and Wealth Management and Enterprise Finance market segments. AI-powered banking and payments companies are modernizing the core infrastructure of financial services — how money moves, how accounts are managed, and how banking operations are run at scale. The company also has a footprint in lending & credit and wealth management and enterprise finance, reflecting its cross-functional approach to financial AI.
Where is MX headquartered?
MX is headquartered in Lehi, United States. The company operates in the Americas region. The team consists of 501-1,000 employees. United States is home to 324 financial AI companies tracked by AIFI Map.
Who are MX's competitors?
Companies similar to MX in the Banking & Payments space include Ocrolus ($142M raised), Stripe ($9.8B raised), Ramp ($2.3B raised), Brex ($1.5B raised), Natural ($10M raised). These companies operate in related areas of financial AI: Ocrolus focuses on ai document automation for lending decisions. Stripe focuses on ai-powered payments platform with fraud detection. Ramp focuses on ai-powered corporate cards and spend management. (Based on AIFI Map classification data.)
What products does MX offer?
MX builds data-layer solutions for the financial services industry. The company's core offering: AI-powered financial data enhancement. The platform is powered by Data Platform technology.