Tech Nation has kicked off its inaugural UK FinTech programme with 20 companies, including a number of RegTechs.
The five-month programme is part of HM Treasury’s FinTech strategy to support the development of fast-growing tech companies.
Tech Nation FinTech received nearly 100 applications, which have been whittled down by a panel of experts to 20. It has targeted companies who have raised Seed funding, have recently raised Series A, or have annual revenues of no more than £1.5m if bootstrapped.
Its first cohort includes SteelEye, a compliance technology and data analytics firm, and Enforcd, a global regulatory enforcement database. Taina Technology, a RegTech start up looking to help financial institutions automate their regulatory compliance, TransFICC, an e-trading technology company providing solutions in connectivity and regulation, and Coinfirm , which develops a verification and compliance platform for blockchain, have also made the cut.
Richard Theo, CEO, Wealthify and one of the judges for the Fintech programme, said: “The applications to the Tech Nation Fintech programme where quite fantastic but the six million dollar question is whether there’s a future unicorn lurking within the 20 companies. Given the great range of ideas, the strengths of the teams and the support they can now get – there’s a really good chance that there’s one in there.”
Through the programme, the companies will gain exclusive access to entrepreneurs and field experts in the FinTech space, who will be available to advise on many aspects of managing a high-growth business, including scaling challenges, partnerships and international expansion. The scheme will culminate with a networking trip to the US to meet potential North American based investors, clients and partners.
Other companies to make the programme are:
Airtime Rewards – a loyalty platform, which rewards consumers with discounts on their phone bill for transacting with major retail and restaurant chains.
Akoni – a cash management solution for SMEs
AltFi Data – Collates data to provide reliable like-for-like metrics for lenders
CoInvestor – a Canterbury-based provider of technology solutions for wealth managers, independent financial advisers and fund managers
CreditLadder – a payments platform that utilises open banking APIs to revolutionise and optimise direct debit payment tracking
Delio– a Cardiff, Wales-based company enabling financial institutions to enable them to securely connect their clients with private market investments
Fiskl – a mobile-first, automated SaaS solution for small businesses of 1 – 10 employees that allows them to manage their daily finances
Float – an Edinburgh, Scotland-based provider of cash flow forecasts to businesses using Xero, Quickbooks Online or FreeAgent
Funding Options – A one-stop-shop for SME finance solutions
LOQBOX – a Bristol-based company, which fixes financial exclusion by providing an opportunity for users to build their credit history while saving
Maxatta – a company automating trading desks, through Artificial Intelligence and robot process automation
MishiPay – app that allows retailers to let shoppers scan, pay and leave with their goods without having to queue
Sustainably – an Edinburgh, Scotland-based micro-payments platform for charity donations
Tail Offers – a company using open banking data to improve and inform consumer choices
Thyngs – a startup connecting the physical and digital world, such as cashless donations through mobile apps, connected payments and customer loyalty solutions
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