Budget Insight rebrands to Powens

Paris-based Open Banking fintech Budget Insight has been renamed Powens, as part of a rebranding initiative to coincide with its push into Europe.

As well as a new name, the company has released a new logo and revealed it plans to acquire a number of European companies in the coming months and throughout 2023.

Founded in 2012, the French company is a banking and financial data aggregator that provides solutions for more than 230 businesses and institutions throughout Europe, including banks, insurers and asset managers.

Its unified API offers access to loan and savings account data, investment, and cryptocurrency data, and automated collection of invoices and supporting documents.

Earlier this year, Budget Insight as it was then, raised $35 million from growth equity firm PSG Equity to fund its European expansion.

Bertrand Jeannet, CEO of Powens, said: “It was critical for us to rebuild our brand in a way that more accurately reflects our European ambitions.

“Our new brand identity – Powens – achieves this goal perfectly, thereby opening a new chapter in our history marked by an acceleration of our presence in Europe.”

In addition, the fintech announced it can now retrieve data from in excess of 1,800 financial institutions in Europe and that it offers access to more than 110 investment platforms, including Trade Republic, DEGIRO, FTX, Binance, and Bitpanda.

Powens co-founder Romain Bignon, added: “We are, for users, a trusted third party between financial institutions and their applications using our services. Our new brand will enable us to reinforce this position and visibility towards consumers.”