Pete Kight Invests $4M in MX

They’re moving the industry, and they clearly are the technological leader in the current competitive landscape. Based on the technology in place, and what is currently under development, MX has the potential to be the signal firm that moves the financial services industry fully into the digital age.

Lehi-based MX has secured a $4 million investment from Pete Kight, the founder and CEO of CheckFree.

“MX picks up where CheckFree left off, driving innovation forward for financial institutions with revolutionary digital solutions,” Kight said in a statement. “They’re moving the industry, and they clearly are the technological leader in the current competitive landscape. Based on the technology in place, and what is currently under development, MX has the potential to be the signal firm that moves the financial services industry fully into the digital age.”

Kight will also be joining MX’s board of directors, bringing added value to a company that has raised $20 million in 2014 and a $30 million Series A earlier this year.

“Pete Kight has had one of the largest impacts on financial services in the last few decades,” Ryan Caldwell, founder and CEO of MX, said in a statement. “We choose our partnerships with strategic precision, and having Kight join our board is a tremendous honor. Kight giving his time and attention to MX is a solid validation for the MX team and what we are building. Kight is a bold advocate for innovation, and his insights have already accelerated MX’s growth. Our combined efforts enable banks and credit unions to achieve a level of competitive strength previously unseen and will ultimately position banks and credit unions at the forefront of customer advocacy, financial freedom and forever alter the landscape of the financial services industry.”

Published 10/1/2015