Bud ID to raise SEK 5 million investors from Sweden.

Bud ID, an Uppsala, Sweden-based startup that developed and handles a digital real estate marketplace, announced closing a SEK 5 million ($530k) funding round.

The money was raised from investors based in Sweden, including the ex-CEO at Swedbank Michael Wolf and the Sweish investment agency Almi Invest.

Bud ID, founded in 2017 by siblings Sohel Sultan CEO Hassan Sultan, developed a digital marketplace that simplifies the housing journey for buyers, brokers, banks and other players as it connects them on a single system - BudID bidding - where the buyer can verify identity and loan promise via BankID, a Swedish unique identification system. In this way, the real estate agents receive information about who is participating in the bidding and that these are credit-tested. The company says it currently has agreements with 60 percent of Sweden's brokerage and almost 30 percent of all housing transactions in Sweden go via BudID.