By Zoran Temelkov June, 2022
The open banking fintech Bud (Bud Financial Limited) has completed its Series B funding round, securing a total of $80 million. Bellis Phantom Holdco ltd via TDR Capital is recorded as the largest investor in the round, followed by SEI investments and some existing investors.
The total amount of capital secured by Bud with its latest round has reached more than $100 million. The Series A round was held in 2019 when the company raised $20 million.
The UK-based Bud will utilize the newly acquired funds to scale up its lending activities and AI personalization technology. Aside from developing its models, Bud will use the funds to expand its activities into new markets. The company is authorized and regulated by the Financial Conduct Authority (FCA).
The open banking platform enables financial companies to utilize their financial data and develop services that will support the company’s growth. Bud’s transactional AI models enable companies to create personalized digital products and automate their lending decisions.
Bud offers solutions for fintech and retail banking, wealth management, lending, and Buy Now, Pay Later.