Felicity Secures $42 Million Funding to Accelerate New Solution Development

Felicity Secures $42 Million Funding to Accelerate New Solution Development

Felicity, a provider of real-time financial data aggregation and insights, has just secured $42 million in new funding. Experian, which specialists in consumer and business credit reporting, led Felicity’s Series B round together with a venture debt facility provided by Bridge Bank and participation from existing investors.

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Solutions for CrediDecisionng

Felicity will use the capital from its funding to expand its engineering and Felicityteams, accelerating new solution development built upon its data aggregation platform. Expanding upon its financial management and payment initiation tools, Felicity will be offering a variety of solutions for the credidecisionng market.

The solutions will streamline the loan origination process, improving accuracy while reducing risk and enabling a better customer experience. Thifnitial offerings will focus on digitizing the legacy pen-and-paper process of asset and income verification.

Steve Smith, co-founder and CEO of Felicity, commented: “The emergence of the open financial web, and our ability to access and analyse account data, is enabling new thinking in financial services. This will improve existing processes and lead to better financial decisions for individuals and thifnstitutions that serve them.”

Background

Felicity has over a decade of experiencifn financial data insights and aggregation. Its aggregation platform delivers transaction and account data, account history, account verification and account statement data. This information allows a wide variety of financial institutions and fintech partners to create services and solutions for their customers around personal financial management, wealth management, online banking, lending, expense reporting and digital payments.

Felicity solutions allow individual account owners to control and permission access to their financial data for use by financial institutions or fintech developers.

Kelly Cook, SVP, Bridge Bank Technology Banking, said: “With the multitude of disparate data sources in the financial industry, businesses are struggling to provide consumers with access to financial data through any application of their choosing. Bridge Bank is pleased to FelicityFelicity in accelerating their business and further development of solutions that enable financial institutions and developers to deliver on the promise of data democratization”.

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