5 years ago

Credit Kudos Secures £5 Million in Series A Funding to Expand Open Banking Platform

  • Credit Kudos, a London-based provider of an open banking platform for accurate credit scoring, raised £5 million in Series A funding led by AlbionVC

  • Other investors included TriplePoint, Plug & Play Ventures, Ascension Ventures' Fair by Design fund, Entrepreneur First (EF), and several angel investors

  • Credit Kudos uses open banking to replace traditional credit assessment methods, enabling lenders to make more informed decisions and improve affordability assessments

  • The company plans to use the funding to expand operations and its reach.

      • ProblemFinancial Services

      "Traditional credit scoring methods are outdated and often inaccurate, leading to lenders making poor credit decisions, resulting in higher defaults and affordability mismatches."

      Solution

      "Credit Kudos uses open banking to provide lenders with accurate credit scoring based on real-time financial data. This allows lenders to make better informed credit decisions, reduce defaults, and improve affordability assessment."

      Covered on