Tech Nation has added 23 UK firms to its 2019 fintech growth programme, part of HM Treasury’s Fintech Sector Strategy.
In its second year, the six-month programme aims to accelerate the growth of UK fintech companies. In addition, it hopes to aid them in scaling up at home and abroad.
The Tech Nation programme is designed to connect and create opportunities for fintech. This works through a series of in-depth insight sessions, networking events and a three-day international showcase in the US.
The successful companies were selected by a panel of judges. It included Eileen Burbidge, Partner at Passion Capital & Chair of Tech Nation; Anne Boden, CEO of Starling Bank; and Richard Theo, CEO of Wealthify and Fintech Envoy for Wales.
Fintech selected for the Tech Nation programme
- Anna Money
- Honcho Markets
- Trade Ledger
- Fractal Labs
- Molo Finance
- Credit Kudos
- Kani Payments
- Apexx Fintech
There was an average of £3.6m in funding raised across the companies, a 277% increase from last year’s entrants.
Of the 23 companies, 40% of the companies are based outside of London. In comparison, it was only 35% last year.
Eileen Burbidge, Chair of Tech Nation, HM Treasury’s Special Envoy for Fintech, Chair of the Fintech Delivery Panel and Partner at Passion Capital, commented: “The UK has a fantastic leadership position of producing globally renowned fintech companies, by being number one in the world for scale-up investment into fintech firms between 2015 and 2018, attracting an impressive £4.5bn in total funding. I’m pleased to see another diverse group of companies on this year’s programme, with 40% of companies being based outside the capital.”
Mike Jackson, Entrepreneur Success Director, Tech Nation, added: “Last year’s Tech Nation Fintech growth programme had tremendous success in connecting and creating opportunities for the most promising fintech companies in the UK, and we are hugely excited to replicate this again in 2019. The companies in this year’s cohort have demonstrated significant promise as future fintech leaders, and with the global fintech market expected to be worth nearly £250bn by 2023, they will play a vital role in supporting the UK to remain at the head of the global pack.”