Banked, a London, UK-based fintech startup, raised £1.5m in seed funding.
The round was led by Backed VC.
The company will use the funds to continue to develop the product.
Led by Brad Goodall, CEO and founder, Banked aims to unlock the potential of financial data for all, by being the connection channel between banks, businesses, and individuals.
The company will release its first product in early 2019. It will connect people’s bank account data to third party applications, allowing users to make informed decisions and enable direct payments. This information is delivered via APIs and supported by consent flows.
Banked is launching with a set of core features, and will continuously add a library of ready-to-use functions and actions.
Launch features include:
– Bank account connections
– Spending analysis
– Balance and income verification
– Low cost payments