Apple snaps up UK credit company, sparking Apple Card expansion rumors


Apple acquires Credit Kudos
Credit Kudos is now an Apple subsidiary.
Image: Credit Kudos/Apple

Apple this week acquired Credit Kudos, a credit checking startup based in the United Kingdom, according to sources familiar with the matter. An update to the Credit Kudos website confirms it is now an Apple subsidiary.

The move has ignited rumors of an upcoming Apple Card expansion into the U.K. Apple fans on the other side of the pond have been eagerly anticipating its arrival since Apple Card first made its debut in the U.S. in 2019.

Apple acquires UK startup Credit Kudos

Based in London and founded in 2015, Credit Kudos is a company that offers credit checking services for borrowers and lenders. It uses the U.K.’s Open Banking system to provide more detailed insights into a user’s credit situation.

Until this week, Credit Kudos was owned by its two co-founders. But according to multiple sources and a change to the company’s website, it is now an Apple subsidiary.

‘The deal closed this week’

“Credit Kudos, a UK open banking startup that helps lenders make better decisions, has been acquired by US tech giant Apple,” reported The Block on Wednesday. “The deal closed earlier this week, according to three people.”

It’s not clear how much Apple paid for Credit Kudos, but according to one source, the startup was valued at around $150 million. “Both Credit Kudos and Apple were contacted for comment but did not respond,” the report added.

A change made to the Credit Kudos website all but confirms the acquisition. Clicking the “terms of use” link at the bottom of its homepage now redirects visitors to Apple’s website.

What does this mean for Apple Card?

We can’t be sure of Apple’s plans for Credit Kudos at this point. But the most obvious reasoning for this acquisition is the future expansion of Apple Card — which is still exclusive to the U.S. for now — into the U.K.

Apple’s plan has always been to bring Apple Card to new markets, but almost three years after it launched in the U.S., it is yet to hit new territories.


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