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Finicity Secures $42 Million in Funding to Accelerate New Solution Development

Funding Led by Experian and Joined by Bridge Bank and Existing Investors

SALT LAKE CITY – December 7, 2016 – Finicity, a leading provider of real-time financial data aggregation and insights, has secured $42 million in new funding. Experian, a global innovator in consumer and business credit reporting, led Finicity’s Series B round, along with a venture debt facility provided by Bridge Bank and participation from existing investors.

Finicity will use the capital from its funding to expand its engineering and support teams, accelerating new solution development built upon its data aggregation platform. Expanding upon its financial management and payment initiation tools, Finicity will be offering a variety of solutions for the credit decisioning market. These solutions will streamline the loan origination process, improving accuracy while reducing risk and enabling a better customer experience. The initial offerings will focus on digitizing the legacy pen-and-paper process of asset and income verification.

The funding will focus on growth at Finicity Data Services while also reinforcing operations at sister businesses Mvelopes and Aurora.

“The emergence of the open financial web, and our ability to access and analyze account data, is enabling new thinking in financial services,” said Steve Smith, co-founder and CEO of Finicity. “This will improve existing processes and lead to better financial decisions for individuals and the institutions that serve them. We are grateful to Experian, Bridge Bank and our existing investors for believing in our vision and working with us to transform our market.”

Finicity has more than a decade of experience in 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, digital payments and more.

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

With its additional focus on credit decisioning, Finicity has also been recently certified as a credit reporting agency. This provides consumers and financial institutions with added assurances as to data integrity, and it facilitates accuracy and transparency in the credit decisioning process.

“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 support Finicity in accelerating their business and further development of solutions that enable financial institutions and developers to deliver on the promise of data democratization,” said Kelly Cook, SVP, Bridge Bank Technology Banking.

Thomas Fast, Managing Director at Ultra Advisors, an independent investment banking division of KEMA Partners, advised Finicity on the transaction.

To stay up-to-date on Finicity news, announcements and press, visit www.finicity.com/newsroom. To learn more about Finicity products and services, visit www.finicity.com/products. For Mvelopes visit www.mvelopes.com, and for Aurora, visit www.aurorafi.com/products.