Data start-up Banked backed with £1.5m funding
Banked, a financial data start-up, has secured £1.5 million in seed funding from Backed VC.
The data firm which launched this month, expects to close a seed raise in the UK. The firm aims to be a “trusted channel” between banks, businesses and individuals, leveraging data for all of them.
Banked helps banks make financial data more accessible; assists developers integrate it into products; and allow individuals to access it.
The start-up was co-founded by CEO Brad Goodall, an Australian who worked at Level39, Innovate Finance and ENTIQ, before co-founding 10x Future Technologies with ex-Barclays CEO Antony Jenkins.
“We believe banks should leave customer experience to those nimble enough to meet changing consumer demands, and instead embrace developing an ecosystem that allows banks to play to their strengths as dependable custodians of people’s money,” says Goodall. “The now 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.”
Banked’s first product will be available in Q1 2019, with a beta product currently up and running with test clients.