Nude

Nude is a UK-based financial technology company focused on helping first-time buyers save for a home deposit. Founded in Glasgow in 2019 by former actuary Crawford Taylor, sunglasses entrepreneur Marty Bell, angel investor Kate McKay, and former RBS executive Stephen Doherty, the company aims to simplify the home-buying process for young people. Taylor, the CEO, was a senior partner at an actuarial firm and was motivated to help the younger generation overcome the wealth imbalance and a complex financial system. The founding team combines experience in finance, risk management, brand creation, and law. The company's core product is a mobile application that functions as a financial coach and savings tool. The app provides government-boosted savings and investment accounts, such as a Lifetime ISA (LISA), which allows users to get a government bonus on their savings. Key features include a 'Time to Goal' calculator, which estimates the time needed to reach a deposit goal, and tools that analyze user spending via Open Banking to provide personalized savings tips. A "Team Up" feature allows couples or partners to track their joint savings progress toward a shared goal. Nude operates on a direct-to-consumer (DTC) model through its mobile app, targeting UK individuals aged 18-35 who are looking to get on the property ladder. The company is authorised and regulated by the Financial Conduct Authority. Initially, Nude raised £1.7 million in growth capital in 2019, supplemented by a grant from Scottish Enterprise. This was followed by a successful crowdfunding campaign in 2020 that raised over £3.3 million, with backing from the UK Government's Future Fund. In February 2024, Nude Finance was acquired by Tembo Money, another fintech firm in the home ownership space. This acquisition integrated Nude's LISA product with Tembo's mortgage brokering services to create a more comprehensive offering for first-time buyers. Keywords: first-time home buyer, Lifetime ISA, LISA, home deposit savings, property ladder, financial technology, fintech, savings app, investment app, personal finance, UK housing market, Open Banking, mortgage savings, deposit saving, financial coach, property purchase, Nude Finance, Tembo, Crawford Taylor, getnude