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Open banking app Bud raises $20M in Series A led by HSBC, Goldman Sachs

February 5, 2019

Bud Financial Ltd., a London-based fintech with open banking technology that allows rival apps to interact with each other, has raised $20 million in Series A funds from a group led by HSBC and Goldman Sachs, according to a blog post from co-founder Edward Maslaveckas.

Beyond the lead investors, participants in the funding include Banco Sabadell, ANZ, Investec and venture firms 9Yards Capital and Lord Fink, the former CEO of hedge fund Man Group.

Maslaveckas called the investment "proof that we're going in the right direction."

Bud has 85 providers ready to operate through the platform, and the company has grown from an initial two employees to 70. The firm is on pace double in size by the end of 2019, according to the blog post.