Budgeting app Buddy partners Klarna Kosma for transaction monitoring

By Gloria Methri

Swedish budgeting app Buddy has partnered with Klarna Kosma, Klarna’s financial technology platform for banks, FinTechs, and innovative retailers. The collaboration will allow Buddy users to connect with their bank to track expenses automatically for greater budgeting accuracy and efficiency.

With over 3 million users, Buddy is one of the fastest-growing budgeting apps for Gen Z internationally. It provides a simple way to build and share budgets, track expenses, and better understand overall financial health. The bootstrapped company has grown popular in Australia, Canada, Denmark, France, Netherlands, Sweden, and the US.

The partnership with Klarna Kosma will provide Buddy users with the option to link their incomings and outgoings from their bank, thus helping them track their expenses, gain valuable insights into their spending habits, and better control their finances.  The new feature enables users to check account balances in real-time, monitor their spending, and even set up payment reminders, from one centralised place.

Buddy’s Founder and CEO, Olle Lind said, “Through this integration, we are helping individuals gain control of their finances by offering an easy-to-use, intuitive budgeting app that connects directly to their bank feed, helping them to manage their money during this difficult financial period and beyond.”

Wilko Klaassen, VP for Open Banking at Klarna Kosma said, “We are excited to be joining forces with Buddy to make budgeting simple and fun for Gen Z and millennials. With Kosma’s help, Buddy could create a smoother consumer experience, resulting in 52% more monthly active users for the Personal Finance Management App. It is fantastic to welcome Buddy to Kosma’s platform and we look forward to being part of their future growth and continued success, helping even more users to shore up their finances.”