Method Financial
Method Financial, formerly known as Forward and GradJoy, is a fintech company based in Austin, TX, specializing in payments and debt management solutions. The company focuses on empowering consumers to manage their liabilities and has expanded its reach to over 200,000 Americans managing more than $22 billion in consumer debt.
Company Overview
Method Financial, previously known as Forward and GradJoy, operates in the fintech industry with a focus on payments. Headquartered in Austin, TX, the company employs a team of 20 individuals. Method Financial was founded to build a gateway designed to empower the future of data and money movement, serving the next $10 trillion of consumer debt. The company’s mission is to address the inequality gap by offering consumers more competitive and affordable credit solutions.
Founders and Leadership
The leadership of Method Financial includes prominent figures such as Anish Acharya, General Partner at Andreessen Horowitz, and Christina Bechhold Russ, Head of Strategic Investment Initiatives at Truist Ventures. These leaders have highlighted Method's technological advancements, particularly in debt repayment APIs which bring transparency into debt management for both borrowers and lenders.
Products and Services
Method Financial offers a suite of products including Payments, Balance Transfers, Data, and Transactions (Beta). These services empower consumers to manage their liabilities in one place with tools that were once reserved for financial professionals. Their APIs allow instant linking of liabilities using a phone number, real-time transaction data retrievals for various types of debt, and seamless payment handling for student loans, credit cards, mortgages, and bills. Additionally, Method provides compliance, identity verification, and bank partnership solutions along with developer-first API and embeddable components.
Market and Client Base
Method Financial serves various industries such as Lending, HR and Benefits, and Personal Finance. The company has expanded its reach to over 200,000 Americans, managing more than $22 billion in consumer debt. They connect to all student loan, credit card, auto loan, mortgage, and utility bill merchants, providing real-time liability data and facilitating payments across different types of debts.
Investors and Partnerships
Method Financial is backed by well-known institutional investors including Andreessen Horowitz, Y Combinator, Truist Ventures, Abstract Ventures, SV Angel, and Ardent Venture Fund. The company has also secured support from operators and founders at firms such as Rocket Money, Upstart, Visa, Ramp, Robinhood, Block, Clutch, Kabbage, Nayya, Unit, and Array. They raised a $16 million Series A funding round led by Andreessen Horowitz, with participation from Truist Ventures, SV Angel, and others.