Funds for Rightfoot's Consumer-Permissioned Data Tool

San Francisco-based financial services customer data provider Rightfoot has raised $15m in a Series A round. Funds will be used to launch to its zero-login consumer-permissioned data product Connect Magic, and push it out to companies across the US.

Connect Magic enables financial institutions to embed up-to-date and consumer-permissioned banking and credit data into any application, without requiring a customer to log in. Instead of requiring bank username and password, the product only needs the consent of the customer in order to securely retrieve data, such as bank account balances, deposits and withdrawals, credit card balances and more. Financial services providers use this data to tailor product offerings, including proactively identifying customers eligible for refinancing, as well as to monitor accounts, enact early interventions, and mitigate fraud and disputes.

New funding was led by Blue Lion Global and Renegade Partners, with participation from Bain Capital Ventures (BCV), Box Group and Kraken Ventures. Dani Pensack (pictured), CEO and co-founder of Rightfoot, comments. 'With our latest product - Connect Magic - and a new round of funding, our team will tackle the biggest unmet need in the market; equipping financial service providers with the data they need to better serve their customers'.

Web site: www.rightfoot.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.