Boodil raise £525K to scale consumer focused Open Banking payments solution.
by Startacus Admin
Manchester-based startup Boodil secures funding to support its mission of transforming the everyday spend for consumers through open banking technology.
Boodil, a Manchester founded open banking payments and consumer engagement app that makes it more rewarding, simpler and safer for consumers to pay online, has raised £525,000 in pre seed funding.
The cardless payment method, launching in Q4 2022 aims to transform the way consumers spend and engage with brands whilst being rewarded for their purchases. By utilising open banking payment technology, making it safer and more seamless for customers to pay, the company has gained some early traction with clients. The pre seed raise, with investment from angels and high profile business leaders including Louis and Reg Rix (Co-founders of Manchester based business, CarFinance 247 & 247Money), Anthony Morrow (Founder of OpenMoney), Gary Corbett (Former owner of the Mere Golf Resort), 3B4 Investments and Ben Luscombe (Founder of Henley’s Clothing), have helped lay the foundations to develop the proposition and hit the market this year.
Boodil sits on the checkout of merchants as an alternative payment solution, allowing users to checkout seamlessly and safely with their own banking app. This not only saves businesses significant fees but also reduces the risk of fraud and chargebacks whilst settling their funds instantly. Customers are incentivised to utilise Boodil as their preferred payment method by earning points for their purchases, which they can later redeem for rewards along with the option to enter various prize draws, inclusive of holidays, vouchers, electronic goods and more.
Louis Rix who has participated in the funding round commented “I believe Boodil have identified a gap in the market with their proposition, which is being highlighted by the early adoption of their one click cardless payment solution. Myself and Reg have experience in Open Banking, utilising it for 247Money and believe Boodil has the potential to really disrupt the open banking payments market”
Boodil has sparked initial interest amongst a number of merchants in various industries spanning, retail, automotive, and booking apps. The four founders all have experience in the technology and payments space having grown a number of startups across Manchester’s thriving tech ecosystem and hope to replicate the success with Boodil.
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Got a business in the manufacturing sector? These tips on how you can reduce energy costs while being more sustainable are well worth a read...
 Daniel Dierkes, David Schara, and Maximilian Geißinger 2.jpeg)
Innovative InsurTech startup SureIn announces a €4M Seed round to further its mission of making insurance easy, transparent and hassle-free for SMBs.
Nassia Skoulikariti, Director of IoT Programmes, Mobile Ecosystem Forum shares some insights on how IoT is having a significant impact on all our lives.
.jpg)
Roger James Hamilton, Founder and CEO of Genius Group, a world-leading entrepreneur Edtech and education group, discusses how introducing a globalized curriculum will help better prepare students.
SuperFi, the debt prevention platform, has announced a $1m pre-seed funding round to support people during the cost of living crisis.
41 startups from 13 countries, including the UK, have been selected for the 8th Kickstart Innovation program, one of Europe’s leading innovation platforms.
Personal training platform Another Round has secured £300k in its latest fundraise, including investment from angels and its community.
Thingtrax Secures £4.3M to Empower Manufacturers to Build the Factories of the Future
A measure of inflation relief for small firms sees transport costs fall but service price increases remain elevated
Bedfordshire-based HR tech startup HR DataHub has built a range of tools for HR departments
Published on: 14th November 2022
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- SureIn Secures €4M to Close the SMB Insurance Gap 15th Aug 2023 Innovative InsurTech startup SureIn announces a €4M Seed round to further its mission of making insurance easy, transparent and hassle-free for SMBs.
- SuperFi raises $1M pre-seed funding round 28th Jul 2023 SuperFi, the debt prevention platform, has announced a $1m pre-seed funding round to support people during the cost of living crisis.
- Startups rely on AI & sustainability for new partnerships 27th Jul 2023 41 startups from 13 countries, including the UK, have been selected for the 8th Kickstart Innovation program, one of Europe’s leading innovation platforms.
- Another Round closes £300k Seed round to revolutionise personal training 21st Jul 2023 Personal training platform Another Round has secured £300k in its latest fundraise, including investment from angels and its community.
