Apple 'acquires UK FinTech Credit Kudos'

Apple has acquired UK FinTech Credit Kudos, according to sources originally reported by The Block.

The London-based company uses Open Banking to run credit checks on consumers, competing with established credit reporting firms such as Equifax, Experian, and TransUnion.

One of the sources estimated the size of the deal at $150 million.

Credit Kudos was founded in 2015 by Freddy Kelly and Matt Schofield.

The news comes after the company raised £5 million in a Series A funding round in April 2020.

It was widely reported in April last year that Apple was planning to launch its own Buy Now, Pay Later (BNPL) service.

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