TransUnion did not reveal the financial details of its investment
In Brief:
London-based open banking provider Bud has secured the backing of US credit bureau TransUnion, which has agreed to make a “strategic investment” in the business
Financial details of the investment were not disclosed, but it comes less than a year after Bud raised $80m from TDR Capital in order to grow internationally
Over the years Bud has lined up several financial heavyweights as backers, including Australian banking group ANZ, Spain’s Banco Sabadell, US investment bank Goldman Sachs, and British multinational bank HSBC
What does this mean?
Saha, TransUnion’s UK CEO, said the investment would help TransUnion to grow its open banking offering and “jointly develop the next generation of credit, affordability and fraud solutions. This strategic investment marks the start of an exciting new partnership with Bud, combining our global infrastructure and insights expertise with Bud’s end-to-end Open Banking platform.”
