Budget Insight, an aggregator of banking and financial data, has secured €31m in investment from growth equity firm PSG Equity.
Founded in 2012, Budget Insight has established itself in the open finance sector as one of the leading aggregators of banking and financial data in France. The company offers tech solutions for an ecosystem of over 200 firms and institutions in FinTech, insurance and asset management.
The Budget Insight API allows clients and their end users to aggregate financial data and documents and initiate payments. The company claims it aims to give its clients the tools needed to unlock more value for users of financial services.
Budget said the new partnership strives to allow it to develop new products and substantially expand its European reach, thereby cementing its position amongst the leaders of open finance.
In order to support this growth phase, Budget Insight said it plans to significantly increase its workforce by 2025.
Budget founder Romain Bignon said, “I’m more than pleased with the way this adventure has unfolded since it began, over a decade ago. Our past and future accomplishments are based on our technological prowess and our ability to offer one of the best Open Finance technologies on the market. And for that, we know we can count on our amazing, fast-growing team!”
Budget CEO Bertrand Jeannet added, “PSG’s arrival marks a new milestone for Budget Insight, whose ambition is crystal clear: to become a European champion in Open Finance. We believe that we have everything we need to achieve this: a B2B model tried and tested over the past 10 years, cutting-edge technology and deep sectorial expertise that goes beyond Open Banking, a rich ecosystem of more than 200 partners, and shareholders who share our vision. I’m really thrilled to begin this new chapter in our story!”
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