HSBC and Goldman Sachs back UK fintech startup Bud

BudBud, a UK fintech startup that helps banks connect their apps to products from third parties, has raised $20m in a funding round led by HSBC.

The Series A round also included investment from Goldman Sachs, Banco Sabadell, ANZ, Investec, 9Yards Capital, and Lord Fink.

“This investment… is proof that we’re going in the right direction,” said Edward Maslaveckas, Bud CEO, in a blog post. “Proof that some of the world’s most forward-thinking investors think that our model (and our execution on it), represents a real opportunity to change the way people deal with money.”

The platform was originally launched in 2016 as a consumer app designed to make it easier to access various financial services through a single interface. Since then, Bud has pivoted to become a platform which works with bank partners, helping them to create apps and services that enable customers to manage all the financial products they use in one place. It currently has over 80 fintech partners.

The cash injection will be used, in part, to help the company with its ambitions of doubling its staff base this year. Its team currently consists of 62 people.