Bud Raises $20M Series A with Goldman Sachs Participation
Bud, a UK-based fintech offering API-driven infrastructure to connect bank data with third-party applications, secured $20 million in Series A funding during August 2019, with Goldman Sachs participating in the round. Bud's platform enables banks and financial institutions to aggregate and analyze customer financial data, powering personalized financial products and open banking use cases. Goldman Sachs was one of the most active U.S. banks in fintech investing during 2019, alongside JPMorgan and Citi, collectively backing 22 startups that year.
The investment aligns with Goldman Sachs' broader strategic interest in wealth management and financial data infrastructure. The funding was expected to help Bud scale its platform and expand partnerships with banks seeking to leverage open banking capabilities. This deal underscores the increasing appetite among major financial institutions for BaaS and embedded finance infrastructure that connects traditional banking rails with innovative fintech applications.
- Major banks like Goldman Sachs are directly investing in open banking infrastructure, signaling strategic commitment to embedded finance ecosystems.
- Growing demand for API-based data connectivity platforms positions BaaS middleware providers as critical links between traditional banks and fintech innovation.