https://ift.tt/wnO3QlI
Apple has reportedly acquired UK credit bureau Credit Kudos, presaging a move into open banking and credit referencing.
Credit Kudos uses open banking data to measure financial behaviour and replace traditional, narrow methods of credit assessment, enabling lenders to provide credit to borrowers who would have previously been declined or overlooked.
Reports quoting sources close to the takeover say the deal closed last week at a $150 million valuation. Credit Kudos last raised money in a £5 million funding round in Aprial 2020 led by Albion VC.
A link labeled ‘Website Terms of Use’ on the Credit Kudos website currently leads to a page outlining Apple’s terms of use.
Both Apple and Credit Kudos have yet to comment.
Financial Services
