London-based Bud, a company that develops an open banking platform for users to access data from any financial product, announced in a LinkedIn post on Wednesday that it has raised $80M (approximately €74.54M) in a Series B round of funding.
What does Bud offer?
Founded in 2015 by Edward Maslaveckas and George Dunning, Bud was born as an education platform designed to improve people’s financial wellbeing. Bud has now become a platform used by global banks to harness the power of open banking.
Open banking enables secure interoperability in the banking industry by allowing third-party payment services and other financial service providers to access banking transactions and other data from banks and financial institutions.
Bud is building a financial ecosystem to underpin modern banking: one that connects people to financial products and services to improve their lives. “The apps and infrastructure we’re building are designed to place the power of personal data back into the hands of normal people,” says the company.
Bud employs a diverse group of people from various backgrounds ranging from data science to music production. And as per the company, more than 80 per cent of its team are from outside the world of finance.
Further information about the investors in this round and capital utilisation will be updated soon.
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