Budget Insight, a Paris, France-based aggregator of banking and financial data and a pioneer of Open Finance in Europe, raised $35m (€31m) in funding.
PSG Equity made the investment and will be a shareholder alongside the management team and Crédit Mutuel Arkéa.
The transaction is subject to the authorization of France’s Autorité de Contrôle Prudentiel et de Résolution (ACPR).
The company plans to use the funds to expand operations hiring 50 people this year, to grow its tech, product and sales teams.
Founded in 2012 by Romain Bignon, and led by CEO Bertrand Jeannet, Budget Insight is an Open Finance company that provides tech solutions for an ecosystem of more than 200 businesses and institutions, including some of the largest French banks, insurers, and asset managers, along with several other leading names in fintech.
The Budget Insight API enables clients (banks, fintech firms, lenders, asset managers and software companies) and their end users to aggregate financial data and documents, and initiate payments. Thanks to its technologies, Budget Insight provides clients solutions that cover a wide array of services ranging from asset management and credit to corporate cash management, loyalty and payments.