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Fintech Amount buys Linear for $175M

February 2, 2022

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After Amount raised nearly $100 million in venture capital last year — giving it a $1 billion valuation — the fintech said the funding would be partly used to pursue acquisition opportunities to add new products or features. The purchase of Linear gives Amount the opportunity to integrate that fintech’s business loan technology.

Amount, which assists retail banks in digitizing account opening, loan origination and offering buy now-pay later financing, works with TD Bank and Regions Financial, among others. Linear’s digital account origination and insights platform counts American Express, Citizens Bank and PNC Bank as clients, according to the news release.

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