Open Banking Fintech Bud Closes $80M Series B for Embedded Finance

Bud Financial, a UK-based open banking and embedded finance platform, closed an $80 million Series B funding round on June 8, 2022. The round was led by Bellis Phantom Holdco, with participation from SEI Investments, Outward VC, and other investors. Bud provides AI-powered open banking infrastructure that enables banks and fintechs to build embedded finance products, including lending tools.

The company is live in the UK, Australia, and New Zealand, with plans to expand into two additional markets. Funds will be directed toward AI research and development, international expansion, and deepening its embedded finance capabilities. The raise positions Bud as a significant player in the embedded finance infrastructure layer, helping financial institutions leverage transaction data to offer personalized financial products.