The FinTech Five – 13th May 2022

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Welcome to the FinTech Five, the part of the week where we take a closer look at the best articles, news, and features from over the past week from our FinTech Wales members.

1. Welsh Scaleup Wagonex Powers Cupra Born Subscription Launch

First this week, Leading vehicle subscription software company Wagonex  announced a new partnership with CUPRA this week to launch a flexible, fair, and simple approach to car subscriptions across the UK. 

It joins a growing number of innovative new vehicle subscription platforms operated by Wagonex on behalf of major vehicle retailers and manufacturers. 

The new service, which is a partnership between CUPRA, Volkswagen Financial Services UK’s Rent-a-Car platform and Wagonex, launched this week and enables customers to take cars on a three-month subscription. 

The subscription package includes the cost of the vehicle, insurance, roadside assistance, 24/7 Driverline as well as any maintenance. After three months, all customers have to do is hand the vehicle back, or renew for another period. Research by Volkswagen Financial Services UK (VWFS) has found that 61% of people aged 18 to 34 are interested in accessing a car via subscription, similar to services such as Netflix, where you can cancel anytime. 

Wagonex, which was founded by entrepreneur Toby Kernon in 2016, is based in the Welsh capital of Cardiff, and is growing from strength to strength as a frontrunner in what is widely considered to be the future of vehicle ownership. Wagonex are alumni of the first Season of the FinTech Wales Foundry, and many of their learnings from the programme helped to secure, develop, and release this partnership. 

Richard Harrison, Managing Director at CUPRA UK, commented:

“The future of mobility has never been more in the spotlight and our customers are increasingly looking for ‘on-demand’ vehicle ownership. This new subscription service reflects the shift in which an increasing number of our customers want to interact with our cars to meet their changing lifestyles. The CUPRA Born is a real game-changer for the brand and so is perfect for customers looking for emotional design, electrification and performance, on-demand.” 

Toby Kernon, CEO at Wagonex, added: 

“We are absolutely thrilled to support Volkswagen Financial Services UK and CUPRA with the launch of this new subscription service, which will give customers more choice, flexibility and control. From the very beginning, Wagonex has been focused on the customer. This collaboration represents a real vote of confidence in the industry-leading technology we have built from the ground-up to streamline and simplify the subscription process for brands like Volkswagen Financial Services UK and CUPRA. We look forward to working with these brands and further increasing the range and availability of vehicles available on subscription to meet with the growing consumer demand for flexibility.” 

2. An exclusive event with Currencycloud, Transact Payments Ltd, and Integrated Finance: How to build a super app, super fast. 

Next this week, Currencycloud, Transact Payments Ltd, and Integrated Finance partnered to create an innovative, fully compliant super app for sync, in just two months!

Join an exclusive LIVE online event on 19 May 2022 to learn how you can build a super app in record time, like sync did. 

The speakers will explore:

  • The building process, step by step
  • How they ensured time didn’t affect quality: fast without compromise 
  • Whether super apps are only for the big players
  • Why super apps are here to stay

Don’t miss it out. Click here to register for the event and LIVE Q&A. 

3. Future For Both Business And Government  Must Feature Fintech To Fuel Growth 

Next, CBI President Lord Bilimoria launched a major new campaign at City Week last month to get more businesses using fintech to fuel future growth.

Given the serial headwinds facing businesses – including supply shortages, rising inflation and energy prices – the crossbench peer will say using fintech to unlock productivity growth has never been more important.

Speaking before an invited audience in the Crypts at Guildhall, City of London, Lord Bilimoria urged both business and government to back the CBI’s ‘Winning with Fintech’ campaign by underlining the sector’s transformational potential for the UK economy.

Among the campaign’s aims will be to help non-financial firms get to grips with fintech as a means of embracing innovation; improving efficiency and competitiveness.

The CBI’s economic strategy Seize the Moment identified the UK’s fintech sector as a key opportunity, with a potential £32bn additional revenues on offer by 2030. Statistics from Innovate Finance show in 2021 $11.6bn was invested in UK fintech businesses, a 217% increase from 2020. And number of UK fintech ‘unicorns’ continues to rise.

‘Winning with Fintech’ will explore how firms can work more effectively with fintech to unlock growth and efficiency opportunities – in areas including opening up new markets, improving payment flows and transitioning to net zero.

Ed Thurman, CBI Strategic Adviser on Fintech, said:

“All too often many businesses think innovation is something other firms do. ‘Winning with fintech’ aims to get more firms engaged with financial technologies to save costs, improve efficiency and go for growth. In challenging times, partnering to achieve these aims will be crucial for businesses of all sizes, and is a key area of focus for this work.”

The critical factor in the UK’s success in this innovative fast pace Fintech Industry is collaboration both regionally and across the respective cluster ecosystems. Fintech Wales values our relationship with CBI Wales and more broadly the CBI. Together as team GB we will keep the UK where we belong, world leaders in Fintech.

Read more on CBI’s website here. 

4. Spaces Remaining on Cardiff Metropolitan University’s programmes in Cyber Security and Software Engineering


Next, Cardiff Metropolitan University have remaining spaces for their brand new programmes in Cyber Security and Software Engineering this July.

The Degree Apprenticeship is an alternative to traditional university study that combines the work-based element of an apprenticeship with the academic framework of a Higher Education qualification.

A Degree Apprenticeship offers students the opportunity to study part-time for an academic qualification while working full-time with an employer, gaining real world experience in their chosen career path.

Cardiff Metropolitan University‘s School of Technologies offers Degree Apprenticeships fully funded by the Welsh Government for up to four years – there are no tuition fees for the apprentice undertaking the degree, and employers only need to commit one day per week for their employee/apprentice to study at Cardiff Met.

​​As an employer, a Degree Apprenticeship offers you the opportunity to upskill your existing workforce, attract new talents, and close skills gaps. You will benefit from higher productivity and employee retention, and will ensure that the future skills needs of your business are met with a minimal opportunity cost.

Find out more about Cardiff Metropolitan Univeristy’s apprenticeship degrees:

BSc Applied Data Science Apprenticeship Degree

BSc Applied Cyber Security Apprenticeship Degree

BSc Applied Software Engineering Apprenticeship Degree

5. Delio announces formation of Advisory Board as it accelerates international growth plans

Last but not least this week, Delio, the UK fintech which digitises the private markets strategies of leading banks, wealth managers and other financial firms, has announced the formation of its first Advisory Board as the company embarks on the next stage of its global expansion.

The new Advisory Board will consist of internationally recognised leaders from a diverse range of professional backgrounds and specialities, including banking, professional services, impact investing, technology and marketing. The Advisory Board members will work closely with Delio’s leadership team to offer strategic help and advice that supports the fintech’s ambitious international expansion. The announcement comes within weeks of Delio’s latest growth funding round which saw Octopus Ventures invest $8.3m in the Cardiff-based firm.  

Kevin Smith, a former senior partner at KPMG in London, has been appointed as chairman of the Advisory Board. Smith will oversee their strategic contribution to Delio’s growth plans and harness the members’ wealth of experience gained at top tier organisations including UBS, Société Générale, Cisco, Nokia and Adecco.

In addition to Smith, the founding members of Delio’s Advisory Board include:

  • Didier Valet, a former senior executive at Société Générale with more than 25 years of experience in the banking industry;
  • Manuela Andaloro, a strategy, brand and marketing specialist who has held senior roles at UBS, Financial News and Nielsen;
  • Paivi Rekonen, a serial board director with wide-ranging expertise in digital transformation and strategy;
  • Pooja Warier Hamilton, the chief partnerships officer at Apolitical and founding partner of Conduit Connect, an impact investing platform.

Gareth Lewis, co-founder and chief executive of Delio, said:

“The formation of our Advisory Board is another significant step forward in Delio’s growth journey and I’m delighted that we have been able to attract such a diverse and inspirational group of business leaders. I look forward to drawing on their decades of collective expertise, which will be invaluable as Delio continues to expand our operations on a global scale.”

Read more about Delio’s advisory board here.

Until Next Week

And that’s it for the FinTech Five this week. Thank you for reading, and don’t forget to join us next week for more of the best content from across our FinTech Wales membership.

If you want to join our dynamic FinTech Wales community, then click here to learn more about the exclusive benefits FinTech Wales membership has to offer.