Argyle
Overview
Argyle is a leading provider of direct-source access to real-time income and employment data. The company, based in New York City, was founded in 2018 by Shmulik Fishman, Billy Marsden, Audrius Zujus, and Christopher Hansen. Argyle offers a payroll connectivity platform that enables businesses to automate various critical workflows, including income and employment verifications and wage advances, thereby enhancing efficiency and reducing operational costs. As of 2024, Argyle has raised over $100 million in funding, with significant investment from companies like Rockefeller Asset Management, Bain Capital Ventures, and SignalFire.
Recent Developments
- October 2024: Argyle Resources Corp., distinct from the fintech Argyle, announced a marketing renewal with Euro Digital Media Ltd., extending their campaign efforts in digital marketing (Argyle Resources News).
- September 2024: Argyle upgraded from the OTC Pink Market to the OTCQB Venture Market, aiming for greater market visibility and investor transparency (Invezz).
- August 2024: The company secured a new facility in Quebec to enhance its silica exploration operations, part of Argyle Resources' strategic expansion in the mineral exploration industry (Invezz).
- March 2024: Argyle announced it secured $30 million in Series C funding, led by Rockefeller's Fintech Innovation Fund. This capital is poised to bolster the company’s growth in the payroll connectivity sector (Business Wire).
- January 2024: The company was recognized for significant technological innovation in the fintech space, streamlining traditional verification processes and setting new standards in digital lending (Fast Company).
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2018 |
| Headquarters | New York, NY, USA |
| Founders | Shmulik Fishman, Billy Marsden, Audrius Zujus, Christopher Hansen |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Bain Capital Ventures, SignalFire, Checkr, Rockefeller Asset Management |
| Industry | Financial Services |
| Number of Employees | 135 |
Early History
Argyle was founded in 2018 as a response to the inadequacies in the traditional methods of income and employment verification, which often involved inefficient, manual processes. Shmulik Fishman and his co-founders recognized the potential for a platform that could connect directly to payroll systems, thereby providing real-time data access to streamline these operations. The company started modestly, focusing on building a robust and secure API that would facilitate this data exchange, initially gaining traction with fintech startups before expanding to serve larger enterprises.
Company Profile and Achievements
Argyle's business model centers around its proprietary platform that directly connects to payroll systems, providing businesses with real-time, verifiable economic data. This technology allows companies to automate manual verification processes, improving efficiency and customer experience.
- Milestones:
- Raised $108 million across multiple funding rounds, with significant Series C funding in March 2024.
- Integrated with major financial service platforms like ICE’s Encompass and nCino’s Mortgage Suite.
- Achieved a 360% growth in bookings in 2023, completing over 1.6 million verifications.
- Recognized as a World’s Most Innovative Company by Fast Company in 2024.
- Partnerships and Expansion: Argyle has established partnerships with major players in the mortgage, banking, and gig economy sectors, facilitating their solutions for better automation and risk management.
Current Operations and Market Position
Argyle is currently a key player in the financial services industry, leveraging its platform to provide automation and efficiency improvements in areas such as mortgage processing and personal lending. The company holds a significant market share in income verification services, covering 90% of the U.S. workforce with direct-source data. By integrating payroll connectivity into a variety of fintech applications, Argyle supports a range of functionalities from loan origination to risk assessment, offering a scalable and cost-effective solution to its clients.
Conclusion
Argyle has cemented its position as a transformative force in the financial services sector through its innovative approach to payroll connectivity. By offering a platform that automates and simplifies income and employment verification tasks, the company addresses longstanding inefficiencies and risks associated with traditional processes. With its recent funding and strategic partnerships, Argyle is well-positioned to expand its impact, supporting industries like mortgage lending and personal finance with more reliable and efficient verification systems. As it continues to develop its technology and expand into new markets, Argyle is poised to drive further innovation in the fintech space.