A UK open banking startup known as Credit Kudos has recently been acquired by US. tech giants, Apple. Credit Kudos is a credit checking that provides in-depth financial and credit score assessments for individuals.
According to Theblockcrypto.com, three people close to the deal confirmed that the deal was finalized earlier this week. The value of the fin-tech startup was at about $150 million.
This fin-tech company is the latest European open banking startup bought by a US. individual or company.
A link on the the company’s website labeled ‘Website Terms of Use’ currently leads to a page starting Apple’s terms of use. Credit Kudos rasied up to $6.5 million during the covid-19 pandemic, April 2020 to be specific,
so $150 Million is a substantial increase in the company’s value.
No one’s sure what Apple’s motive towards this newly acquired company is.
though Apple has a financial product known as Apple Pay, that’s in the form of a mobile wallet and a credit card
