Butter raises £15.8m from BCI Finance and angels to expand its shopping app
The financing round was backed by BCI Finance and private angels to accelerate the rollout of the open banking shopping platform.
Butter is a London based fintech platform that operates a shopping application offering open banking backed instalment options across multiple consumer verticals. The firm evolved from a specialist travel agency into a universal credit provider using open banking technology.
London based fintech platform Butter has secured £15.8m in a seed follow on funding round. The investment was provided by BCI Finance alongside a group of private angel investors to support the expansion of the company's offering.
Founded in 2017, the company began as a buy now pay later travel agency before pivoting to a universal shopping app during the pandemic. Its open banking platform allows customers to spread the cost of purchases across any online store without requiring direct merchant integration.
The newly secured capital will enable the business to accelerate the rollout of its shopping app and scale operations. The firm aims to promote responsible lending through affordability checks and open banking integration.
From the founder
"Our goal at Butter has always been to provide consumers with a simple and responsible alternative to credit cards and loans, enabling them to instantly spread the cost of anything from a takeaway to a holiday over a simple and transparent instalment plan, all within one easy to use account."
Timothy Davis
Co-Founder and CEO at Butter
Investor perspective
"Our mission at BCI is to be the funder of choice for UK Fintech’s looking to scale."
Paul Maurici
Investment Manager, BCI Finance
Use of funds
- 01Expand into international markets
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