Bud, a pioneering open banking fintech, has successfully secured $80 million in a Series B funding round, spearheaded by an indirect affiliate of TDR Capital’s investment funds.
The company specializes in advanced transactional AI models that empower financial institutions to customize digital products and streamline lending processes. Bud’s innovative open banking platform is already being utilized by notable clients such as ANZ, Street UK, and TotallyMoney to enhance affordability assessments. Additionally, major entities like HSBC and Credit Karma leverage Bud’s technology to help customers gain better insights into their financial situations.
The newly acquired funding will be directed towards enhancing Bud’s AI-driven models and facilitating its international growth.
Ed Maslaveckas, CEO of Bud, stated, “Our transactional intelligence services enable applications to achieve true personalization for the first time. For instance, our lending partners can anticipate an approximate 85% increase in capacity by integrating open banking data with our AI capabilities in affordability evaluations.”