Bud, a UK FinTech startup which has created a financial aggregation platform, has raised £1.5m in a round co-led by Banco Sabadell and Investec.
According to City A.M, Bud also drew the support of Force Over Mass Capital.
Founded two years ago, Bud recently struck a partnership with HSBC, which will see both entities work together on a six month trial.
Ed Maslaveckas, Bud’s CEO, said: “We recognise that FinTech companies are providing quicker and more commercial products for consumers, but banks maintain 99% of the relationships when it comes to money. By connecting the two sides, everyone can benefit; banks, FinTech and, most importantly, end customers.”
Banco Sabadell invested through InnoCells, its digital business hub, and InnoCapital, its venture capital investment arm.
Julio Martínez, executive director of InnoCells, said that investing in Bud exemplified the benefits of bringing together the startup and corporate worlds.
“The evolution of the digital relationship model with our customers is increasingly transforming the nature and sale of the financial product and service offering,” he added.
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