Budget Insight, an aggregator of banking and financial data in France, has secured USD35 million (EUR31 million) in funding from PSG Equity (PSG), a growth equity firm partnering with software and technology-enabled services companies to help accelerate their growth and build scale across Europe and the US.
PSG will be a shareholder alongside the management team and Crédit Mutuel Arkéa. Crédit Mutuel Arkéa invested in Budget Insight in 2019. The investment helped Budget Insight cement its technological edge and pave the way for its new stage of expansion on a European scale. Going forward, Crédit Mutuel Arkéa will continue to partner with Budget Insight to help drive innovation in the financial services industry.
The new partnership with PSG will allow Budget Insight to develop new products and significantly expand its European reach, thereby cementing its position amongst the leaders of Open Finance, an industry which is currently consolidating around a handful of big players.
