Apple Acquires UK Open Banking Startup, Possibly for UK Apple Card

Apple has acquired UK opening banking startup Credit Kudos, perhaps suggesting that a UK Apple Card may be coming soon.

According to The Block sources, the deal closed earlier this week and was valued at around $150 million.

The deal closed earlier this week, according to three people close to the deal. One source said it valued the startup at about $150 million, a significant uplift in valuation. A link labeled 'Website Terms of Use' on the Credit Kudos website currently leads to a page outlining Apple’s terms of use. Both Credit Kudos and Apple were contacted for comment but did not respond by press time.


Credit Kudos says its mission is to transform the credit scoring system to provide fairer credit for all; helping people access responsible finance they can afford, when they need it.

The startup offers insights on credit applicants using bank data drawn sourced from the UK's open banking framework. This offer lenders faster decision-making, less risk, and increased acceptance rates. This could potentially help Apple in approving applicants for an Apple Card in the UK. Apple Card has been available in the United States since 2019 but has yet to expand to additional countries.

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How it all began
After working in the US for a number of years, Freddy returned to the UK. Having had no recent financial activity in the UK, he had a 'thin' credit file. This not only meant that he had limited credit options, but those that were available to him came with higher interest rates and restrictions.

After further research it became apparent that he was not alone and that many people in the UK face difficulties when trying to get access to affordable credit.


With a vision to remove that challenge from the market, Freddy co-founded Credit Kudos. Since then, the team at Credit Kudos have been on a mission to provide fair credit for all, harnessing the power of Open Banking.
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