Method is a fintech company that aims to make the process of managing repayments, balance transfers, and bill payment automation easier for financial applications. The start-up has recently secured $16 million in Series A funding, which was led by Andreessen Horowitz and participated in by other investors such as Abstract Ventures, Truist Ventures, Y Combinator, SV Angel, and more. The funding will allow Method to expand its team from 8 to 28 employees by the end of the year and improve its product offerings.
The company was created by co-founders Jose Bethancourt and Marco del Carmen after they faced difficulties integrating debt repayment into their previous company, GradJoy. Method uses the consumer credit access protections set in place by the 2010 Dodd-Frank Act to gather financial liabilities from over 60,000 institutions in the US. With 35 customers and over 75,000 users, the company has an annual recurring revenue of approximately $2.25 million. So far, Method has raised a total of $18.5 million in venture capital.
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