Rating agency Credit Kudos collects £5m in Series A

Credit Kudos, which claims to be a different kind of credit reference agency, has reportedly secured £5m in its Series A.

London-based venture capital firm AlbionVC led the investment, with contributions also coming from TriplePoint, Plug & Play Ventures, Ascension Ventures’ Fair by Design fund and Entrepreneur First (EF), according to a report from TechCrunch.

Several angel investors from companies including DST Global Management, ComplyAdvantage, LendInvest, PropertyPartner and Grabyo also contributed to the round.

The UK-based FinTech uses financial behaviour to measure a consumer’s creditworthiness, helping lenders, brokers and financial institutions to improve decision making. The platform makes use of open banking to aggregate and interpret transaction data to go beyond typical credit checks.

The FinTech previously raised $792,000 for its seed round, which closed back in 2016 with investments coming from NFT Ventures.

AlbionVC recently led the $20m Series B funding round of insurance software developer Concirrus. The InsurTech develops software for the marine and automotive insurance industry, offering risk management services through historical and real-time data.

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