Cardiff Welcomes ScaleUp Britain: What It Means for Welsh Scaleups

Sarah Jones, Chief Marketing Officer, FinTech Wales, joined one of the many thought-provoking and insightful panels at the Cardiff ScaleUp Britain event to discuss the challenges and opportunities for scaling fintech and finance companies in Wales.

Overview of the Day and Key Takeaways

We were delighted to participate in the ScaleUp Britain event held on March 10, 2025, at Cardiff and Vale College. This collaborative effort, involving the Development Bank of Wales, the ScaleUp Institute, the London Stock Exchange, and other key partners, brought together a vibrant mix of investors, founders, and ecosystem supporters.

The day’s agenda was rich with insightful panels and discussions, shedding light on the unique attributes of Wales’ business environment. A recurring theme was the inherent collaborative spirit within the Welsh business community—a trait we often take for granted. This culture of cooperation not only fosters innovation but also strengthens our collective resilience.

While Wales boasts a robust network of angel investors and venture capitalists, the consensus was clear: there’s room for more. Enhancing access to diverse funding sources is crucial for our businesses to scale effectively and compete on a global stage.

The presence and support of ScaleUp Britain were particularly noteworthy. Their commitment to amplifying the successes and potential of Welsh enterprises plays a pivotal role in showcasing our region’s dynamism to audiences beyond our borders.

Key Stats (Source: ScaleUp Britain & ScaleUp Institute Wales ScaleUp Index)

In 2025, the Wales ScaleUp Index reflects:

• 1,200 scaleups and 610 scaling businesses
• Generating £19.6bn for the Welsh economy
• Employing 121,000 people

Key Sectors of Scaling Businesses in Wales:

• Manufacturing
• Retail / Wholesale
• Admin & Support
• Professional Science & Tech
• Food, Drink & Accommodation
• Construction
• Finance & Insurance
• Health & Social Work

Welsh Unicorns Identified:

• Admiral Group
• MoneySupermarket

Additional Highlights:

Cardiff has been named the best city in the UK to start a business for 2025.

Top Ten Funders in Wales:

• Development Bank of Wales
• Republic Europe (formerly Seedrs)
• Business Angels
• BGF
• Dawn Capital
• HSBC Commercial Banking
• Maven Capital Partners
• Octopus Group
• British Business Bank
• Growth Capital Partners

Key Export Markets for Scaleups in Wales:

• The EU
• North America
• Other parts of Europe outside the EU
• Middle East
• Latin America
• Australia
• China
• Other parts of Asia
• Africa
• Indian Subcontinent

Key Action Points for FinTech Wales

To continue supporting scaling companies in Wales, we must:

• Champion success stories – Amplify the achievements of Welsh scaleups.
• Attract more investors – Especially from outside Wales.
• Increase awareness of SEIS / EIS – Ensure startups and investors understand these benefits.
• Provide access to larger follow-on funding – To support long-term scaling.
• Encourage corporate engagement – Leverage larger companies’ mentorship and investment potential.
• Position Wales as a scaling destination – Promote cost of living, talent, and support networks.
• Create more allies like ScaleUp Britain – To amplify Welsh businesses’ success stories.
• Support successful startups – Through targeted growth initiatives.
• Strengthen partnerships – Both within Wales and internationally.
• Attract, upskill & retain talent – Ensure scaling businesses have the workforce they need.

Participating in the ScaleUp Britain event confirmed our belief in Wales’ potential as a nurturing ground for scaling businesses. By leveraging our collaborative culture, expanding funding avenues, and capitalising on our inherent advantages, we are well-positioned to drive sustainable growth and innovation in the years to come.