Open Banking fintech Youtility closes GBP 4.5 mln in funding

Tuesday 25 February 2020 10:38 CET | News

Youtility, UK-based open-banking enabled startup, closed GBP 4.5 million 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, 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.

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Keywords: Youtility, fintech, funding, funding round, Open Banking, tech infrastructure, financial technology, machine learning, behavioural analytics
Categories: Banking & Fintech
Countries: United Kingdom
This article is part of category

Banking & Fintech