Bud raises $20M to connect banks to fintechs and other financial service providers

Feb 5, 2019 · techcrunch.com

Ed maslaveckas george dunning 01 2019

Bud, the U.K. fintech that helps banks connect their apps and data to other fintech companies and financial service providers, has closed over $20 million in further funding.

The Series A round sees the company pick up backing from a number of banks: HSBC (which, via First Direct, it also counts as a customer), Goldman Sachs, ANZ, Investec’s INVC fund, and InnoCells (the corporate venture arm of Banco Sabadell).

Others participating include Lord Fink (the former chief executive of hedge fund Man Group), and 9Yards Capital (the VC firm to which George Osborne is an advisor).

Originally launched back in 2016 as a consumer app that wanted to make various financial services accessible from a single aggregated interface, the London-based startup has since pivoted to a tech platform it offers to banks to help them remain more competitive in the Open Banking/PSD2 era. Its tech lets banks create new apps and services that enable customers to manage all of their financial products within a single app.

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