Youtility, a London, UK-based open-banking enabled startup, closed £4.5m in funding.
Backers included Michael Spencer (lead), founder of ICAP and NEX, Barclays and Ascension Ventures’ Fair By Design Fund.
The company intends to use the funds for developing new product lines, hiring across multiple areas of the business and the continued evolution of its data insights platform.
Launched in November 2018 by Will Kostoris and Charlie Quigley, Youtility is an open-banking enabled home finance tech platform which allows banks to connect their customers with personalised home services contracts best suited to their needs, offering customers enhanced control over their core financial outgoings. The tech platform provides a tailored comparison and switching service powered by machine learning and behavioural analytics, offering partners a single solution that is integrated into their existing tech infrastructure.