Credit Kudos Secures £5 Million Series A Funding
Credit Kudos, a pioneering provider headquartered in London, U.K., has successfully announced the completion of a significant £5 million in Series A funding aimed at furthering their vision of transforming the landscape of credit assessment through open banking. This funding round was led ambitiously by AlbionVC, backed by prominent investors including TriplePoint, Plug & Play Ventures, Ascension Ventures’ Fair by Design fund, and Entrepreneur First (EF). A distinguished group of angel investors also joined the initiative, featuring notable figures such as Christian Faes from LendInvest, Tom Stafford, the Managing Partner at DST Global, Charlie Delingpole from ComplyAdvantage and MarketInvoice, Will Neale associated with Grabyo and Fonix Mobile, along with Daniel Gandesha from PropertyPartner. An exciting development of this funding round is the appointment of Ed Lascelles from AlbionVC to the board of Credit Kudos.
The primary objective of securing this £5 million investment is to enhance the operational capacities and business outreach of Credit Kudos, which was co-founded by Freddy Kelly, who serves as the CEO, alongside Matt Schofield, the company's CTO.
The innovative credit bureau utilizes open banking technology to revolutionize the conventional methods of credit assessment. This creative approach empowers lenders to make informed credit decisions, subsequently diminishing default risks and enhancing affordability assessments. Since its inception, Credit Kudos has distinguished itself by integrating modern technology into a sector long reliant on outdated practices.
In a remarkable display of growth in 2019, Credit Kudos expanded its clientele by onboarding over 50 new lenders, which includes prestigious FTSE100 firms as well as independent credit unions and community finance vendors. The company has recently emerged as a preferred partner for various credit intermediaries, such as ClearScore, CarFinance 247, and Mojo Mortgages, enabling customers to leverage their bank data for securing advantageous offers across various financial products, including unsecured loans, vehicle financing, and mortgages. With this strategic funding and ongoing partnerships, Credit Kudos is well-positioned to continue its rapid growth and deepen its impact in the credit scoring industry.
They've invested in Credit Kudos
Get to know these Fintech investors
Click here for a full list of 7,526+ startup investors in the UK