Bud Has Successfully Closed Over $20M In A Recent Series A Investment Round

The company is working to create the largest team dedicated to Open Banking!

Bud Raises $20M

Bud, the U.K. based company that helps banks connect their apps and information to other fintech companies and investment service providers, has successfully closed a Series A funding round.

The company which has reportedly raised over $20 million has been backed up by a number of banks including HSBC, ANZ, Goldman Sachs, Investec’s INVC fund, and InnoCells(the corporate branch of Banco Sabadell).

Others to participate in the effort are Lord Fink(the former CEO of hedge fund Man Group), and 9Yards Capital.

The London-based startup launched back in 2016, started with the vision of making various financial services accessible from a single clustered interface. Now, Bud has revolved itself as a tech platform that lets banks create new apps and services that help customers manage all their merchandise within a single app, which makes them more competitive in the Open Banking/PSD2 era.

Moreover, Bud is changing the face of finance for fintechs by discovering new and smarter distribution channel for their products. It works by combining open banking data, AI perfection, and a connected marketplace to create a new age of financial experiences.

George Dunning, Bud CTO, and co-founder said,

He further added,

Many of these features provided by Bud is due to its ability to use data to observe patterns and behaviors. Dunning says that observing if someone is going abroad and helping them get insurance for their trip from within the app is a much better process than doing it in a traditional way.

When further asked about his other bank customers, Dunning wasn’t able to disclose any of the company’s further bank customers. “Something as simple as detecting if someone is going abroad and helping them get insurance for their trip using one of our partners from within the app is much better than if you do it the traditional way,” he said.

Bud currently works with 85 different companies including Wealthify and PensionBee to giants like Hiscox and AJ Bell.

Bud has also partnered with U.K. Government to work on Rent Recognition Challenge to create new solutions for people wishing to get on the housing solution. Dunning says that the work they are dealing in with The Treasury uses rent payments to help people increase their credit history for buying a home.

Raman Bhatia, Head of the digital bank at HSBC Retail Banking and Wealth Management said,

Bud says that the investment would help them expand their team while doubling its headcount to create the “largest team dedicated to Open Banking in the world.” Its current headcount accounts to 62.

Tanya <span>Editor In Chief</span>
Written By
Tanya Editor In Chief

She is a content marketer and has more than five years of experience in IoT, blockchain, Web, and mobile development. In all these years, she closely followed the app development, and now she writes about the existing and the upcoming mobile app technologies. Her essence is more like a ballet dancer.


Roadside Assistance App Raises $20M From BMW, Porsche, And Jaguar

2 min read Inc., a roadside assistance platform, announced that it has successfully raised $21 million in Series B Funding Round from a group of new automotive-related investors.The investment round was led by BMW i Ventures, Porsche Ventures, and InMotion Ventures, the venture capital fund Jagua


‘Tinder-Style’ PropTech App Badi Raises £24M

2 min read  

Gone are the days when individuals looking for romance took to classified pages of a newspaper, sharing adverts alongside landlords looking for probable tenants.Badi, a startup that mingles house hunting with the Tinder-style swipe mechanism has escalated an additional £24 million($30m) in


Fintech Start-up B-Social Raises £3.2 Million Investment

2 min read  

B-Social, a London-based banking app startup that has created a ‘social finance’ app and offers a beta debit Mastercard, has successfully secured £3.2 million through its latest seed funding round.Founded in 2016, B-Social is currently applying to Prudential Regulation Authorit


Byju Valuation Reaches $3.6B After $540M Funding

2 min read  

Byju, an India-based educational startup, has reported to successfully raise over $400 million in funding in just a single round. This company with over a decade of rich experience in the field has recently made the announcement official regarding its valuation. A total of $540 million has been rais

MAD Originals
MAD Originals

Cut to the chase content that’s credible, insightful & actionable.

Get the latest mashup of the App Industry Exclusively Inboxed

  • BOTH