Challenger credit bureau Credit Kudos has raised £2.2m in a funding round led by Ascension Ventures.
Coming in alongside existing investors NFT Ventures and Entrepreneur First’s Next Stage Fund, are a number of new backers, including: Dragons’ Den star Sarah Willingham; angel investor Charlie Songhurst; and the former CEO and MD of Callcredit, now TransUnion, John McAndrew and Graham Lund.
Credit Kudos is an FCA-authorised credit bureau and an Open Banking Account Information Service Provider (AISP) that uses financial behaviour to measure creditworthiness.
The firm says the investment will be used to drive further growth within the UK and support expansion into Europe, alongside further investment into Credit Kudos’ platform.
“This investment allows us to scale up our business to meet the demands of a post-Open Banking and PSD2 world,” says Freddy Kelly, Credit Kudos CEO. “This funding will be used to expand our engineering and development team to continue to deliver first-to-market technology across our platform, as well as supporting expansion into wider Europe.”