Fintech developers have long struggled with integrating essential debt repayment, balance transfer, and bill payment functionality into their apps. Many rely on fragile, outdated tools such as screen-scraping APIs or cumbersome manual processes that involve paper checks. Austin-based startup Method is addressing these pain points with an innovative solution.
The details: Founded by Jose Bethancourt, Marco del Carmen, and Mit Shah, Method emerged from stealth mode in 2021 with the goal of simplifying debt management in fintech applications. By leveraging identity verification data and core banking system integrations, the company allows users to manage debt, execute payments, and handle balance transfers through a streamlined API. Users only need to provide their phone numbers, avoiding the need for repeated authentication.
“Jose and Marco experienced firsthand the challenges of financial account connectivity while building their first company, GradJoy,” said Shah, co-founder of Method. “Existing systems couldn’t meet their needs, so we set out to build something better.”
The platform has since grown rapidly, now supporting over 30 million account connections for 4 million users, and facilitating more than $500 million in liability repayments. Method counts fintech giants like SoFi, Bilt, and Happy Money among its customers, helping them improve user engagement and boost conversion rates.
Privacy and security: Given the sensitive nature of financial data, privacy is a key concern. Shah assures users that Method collects only minimal information and does not sell data to third parties. The company is also working on a user portal, allowing individuals to manage and control the data shared with Method’s clients.
Competitive landscape: Method competes with major players like Plaid, MX, and Dwolla, but its unique value proposition lies in reducing friction for users. Unlike other platforms that require repeated re-authentication for multiple accounts, Method enables a seamless experience for users, who can quickly link their debts and execute payments without unnecessary steps.
Expansion and future plans: Method recently expanded into credit card functionality, supporting tools like Bilt’s card-linking feature. In the future, the company plans to integrate more retail and travel card networks, offering further convenience for users and merchants alike.
To fuel its growth, Method raised $41.5 million in a Series B funding round, bringing its total raised to about $60 million. The company plans to deepen its banking relationships and continue enhancing its product offerings, solidifying its position as a leading player in the fintech space.
