Financial data startup Banked has secured £1.5 million in seed funding to help develop its first data integration product using Open Banking protocols.
The FinTech will close its latest seed raise for the UK market with the contribution from lead investor Backed VC, a €50 million London-based seed stage fund.
Banked’s tools are aimed at helping developers quickly integrate financial data into personalised products that offer individuals more control over their data and financial lives.
It expects the first financial data product to be available in the first quarter of 2019, with a beta version currently being tested by clients.
The company is made up of serial entrepreneurs, tech developers, creatives and regulatory experts. It was founded by chief executive Brad Goodall, an Australian entrepreneur who co-founded 10x Future Technologies with Anthony Jenkins, the former chief executive of Barclays.
Announcing the raise, Goodall said: “The global Open Banking movement makes it possible for Banked to work with banks, product developers and consumers to use data securely, enriching user experience whilst maintaining privacy and control for the customer.”
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