Aura Cloud

Aura has built a cloud-based open banking ecosystem that helps financial institutions and fintech players launch digital products and services quickly and cost-effectively to keep pace with changing market needs. With its 6,500 API connections, the platform covers a wide range of products - everything from corporate credit, consumer credit, to personal loans and card issuance, to name a few.

Sector

Fintech

Business Model

B2B SaaS

Headquarters

Stockhom, Sweden

FUND/Vehicle

Fintech Fund I

Entry

2022

Status

Current

Website

Auracloud.com

Fintech companies and established banks no longer have to worry about outrageously priced IT projects. With our technology, you can try new products and only pay for the use, which is a fraction compared to traditional infrastructure, says Prem Bhagwat, founder and CEO of Aura Banking Cloud.

Rationale

Aura offers a complete ecosystem that utilizes the cloud’s strength and provides returns after just a couple of months, rather than years or decades. Fintech companies and established banks no longer have to worry about outrageously priced IT projects. With our technology, you can try new products and only pay for the use, which is a fraction compared to traditional infrastructure, says Prem Bhagwat, founder and CEO of Aura Banking Cloud.

Aura is the important piece of the puzzle in Wellstreet's offering in fintech. Now we can really offer our own portfolio and other startups to try their products in a well-functioning banking environment in a lightning-fast and cost-effective way. All that is required is a FI permit - the rest we have, says Armando Coppola, partner and fintech manager at Wellstreet.

Success factors

Result

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Aura Cloud Names Caroline Farberger as Chairwoman of the Board

The finance executive Caroline Farberger joins the company as chair of the board, as part of her upcoming work with Wellstreet.

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