MX raised $300 Million valuing the business at $1.9 Billion USD

Utah-based fintech startup MX said on Wednesday it raised $300 million in a funding round led by private equity firm TPG, giving it a valuation of $1.9 billion, as companies and investors seek to bet on the fast-growing e-commerce sector.

The boom in e-commerce and other contactless payment technology during the pandemic resulted in a record year for venture capital investments in U.S. fintech companies with $20.6 billion invested.

Other investors in the fund-raising round include CapitalG, Geodesic Capital, Greycroft, Canapi Ventures, and Digital Garage.

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