LONDON—Credit Kudos, a U.K. open banking startup that seeks to help lenders make better decisions, has been acquired by Apple.
The Block reported the deal valued the startup at about $150 million, “a significant uplift in valuation.”
Credit Kudos last raised money at the height of the COVID-19 pandemic in April 2020, netting roughly $6.5 million in a round led by AlbionVC. Triple Point, Plug and Play Ventures, Ascension Ventures’ Fair by Design fund, Entrepreneur First and a number of angel backers also invested, The Block said.
The startup offers insights and scores on loan applicants drawn from bank data — specifically transaction and loan outcome data — sourced via the U.K.’s open banking framework. Its API can offer lenders faster decision-making, less risk, and increased acceptance rates, according to its website.
Apple has not revealed its plans for using the Credit Kudos solution.
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