US-Lithuanian Argyle receives $30M in a Series C round

New York-based Argyle has received $30 million in Series C funding, led by Rockefeller Asset Management. The company intends to use the funds to further enhance the adoption and expansion of its automated income and employment verification platform.

• Argyle was co-founded by a Lithuanian, Audrius Zujus, two Americans, Billy Marsden and Chris Hansen, and led by Shmulik Fishman. It is a provider of direct-source access to real-time income and employment data.
• The solution helps companies automate critical workflows, including income and employment verifications, deposit switches, wage advances, and loan repayments. It serves mortgage and background check, personal lending, and banking industries as well as the gig economy.

Our verticalized approach and direct-source model has provided accurate data and an enhanced consumer experience for our customers. With this capital from our valued investors, we will continue to tailor our solutions to priority verticals while improving the verification experience for the next wave of prospective customers that can benefit from our services,

 Shmulik Fishman, CEO and founder of Argyle, commented.

• Since launching, Argyle’s total funding reached $100 million. According to the company, in 2023, the firm onboarded 90 new customers, bringing the total to more than 140, primarily from the mortgage, personal lending and background screening verticals. It also processed more than 1.6 million verifications and achieved 360% growth in bookings.
• The fresh round was led by NY-based Rockefeller Asset Management’s Fintech Innovation Fund, with participation from Bain Capital Ventures, SignalFire, and Checkr.

With this new capital, the startup plans to reach free cash flow and achieve profitability by 2026. Additionally, Argyle aims to expand its automated income and employment verification platform.