Bud Financial launches in the US

Ellie Duncan
30 Mar 2023

UK-based fintech Bud Financial has entered the US, with a newly-appointed leadership team in place.

Bud’s core US launch team is headed up by EVP North America Kyle Ray.

He joined Bud in September 2022, from US-based software development company nCino, where he was area vice president, according to his LinkedIn profile.

“Assessing creditworthiness has always been a challenge for lenders of all sizes in the financial services industry. Having spent almost 20 years in the field, I have seen this first hand,” Ray said.

“Our Transactional AI not only enables lenders to make informed lending decisions faster, but it also drives customer lifetime value by fuelling personalized services.

“With this innovative platform, both lenders and borrowers can benefit. I couldn’t be more excited to lead Bud’s US go-to-market with an incredible team.”

Ray is supported in the US by SVP sales Jeff Thormann, who previously worked at small business lender SmartBiz, and VP sales Nathan Mairs, who has held sales and business development roles at LayBuy, Splitit, Klarna and Barclaycard in the US since 2011.

Bud’s US team also comprises Melissa Hougie, AVP North American head of marketing, lead product manager Chris Luth and director of business development Corey Horr.

Bud’s US launch comes a few months after it received strategic investment from global information company TransUnion.

Ed Maslaveckas

Ed Maslaveckas, CEO of Bud

Meanwhile, Bud is also backed by Goldman Sachs and HSBC.

Edward Maslaveckas, chief executive officer of Bud, said: “The US shows growing interest in Open Banking, and many Americans are wondering how they can use transactional data in their businesses.

“Bud’s Transactional AI is the first of its kind, offering lenders a highly accurate picture of their customers’ income, expenses, and creditworthiness in real-time.

“Lenders can approve more loans, assess risk confidently and recommend the right products at the right time.”

He added: “We can’t wait to bring our Transactional AI to customer-focused lenders in the US and North America.”