The FinTech Five – 9th June 2023 

Welcome to the FinTech Five, where we take a fortnightly look at the best articles, news, insights and features from our FinTech Wales members.    

1. Find Opportunity at Wales Tech Week: Emerging Fintech

First this week, a new Wales Tech Week video discussion in partnership with Business News Wales takes a special look at the burgeoning fintech sector.

FinTech Wales CEO Sarah Williams-Gardener (formerly UK Government Affairs director at IBM UK and a founding member of Starling Bank) hosts this discussion with Alex Mills, Founder & Managing director of insurance broker Dynamo Cover; Rowan Whittington, Director of Product, at comparison website confused.com and Ammar Akhtar, who is Founder & CEO of car rental company Finalrentals.

They discuss the types of fintech businesses that are flourishing in Wales, what opportunities there are in the sector, how the supportive tech ecosystem fosters startups, and what Wales Tech Week offers anyone connected to or interested in fintech.

Click here to watch the video on Business News Wales’ site. 

2. AperiData Secures Six-Figure Investment 

Next this week, Chester-based fintech AperiData has received investment to continue its growth, expand its portfolio of customers, enter new markets and create jobs.

More than 20 million people in the UK are unable to access credit through mainstream finance products due to lack of credit history or incompatible lifestyles. The AperiData platform, through connections to the UK’s largest banks, uses open banking to make credit assessments faster and more accurate for consumers and financial institutions.

The financial package has been provided by Maven Equity Finance, managed by Maven Capital Partners and part of the Northern Powerhouse Investment Fund.

Stephen Ashworth, chief executive of AperiData, commented: 

“We are delighted to announce this additional funding and to be partnering with a highly experienced investment firm as we embark on our next chapter of growth.

“With Maven’s support, we look forward to the collaboration opportunities as we continue our mission to revolutionise credit scoring and fairer access to financial services for all.”

Click here to read more about the investment on Insider Media’s website.

3. Goodlord Group and Credas Announce right-to-rent Checks Partnership

Next, thanks to a new partnership between Credas and the Goodlord group, letting agents will now be able to conduct digital right-to-rent checks on British and Irish citizens using Credas’ identity verification technology (IDVT). 

Right-to-Rent legislation changed late last year to allow letting agents and landlords in England to use certified identity service providers (IDSPs) to carry out checks on British and Irish citizens remotely on their behalf, using identity verification technology.

This service will be offered as an add-on to the Goodlord group’s current referencing checks for users of their platforms. Powered by Credas, it will include ID fraud checks, documentation verification and “liveness detection” checks, which can detect whether a face is real or fake.

Tim Barnett, CEO at Credas, comments: 

“At a time when customer verification is more important than ever for a whole host of reasons, our technology allows stakeholders throughout the property and legal industries and beyond to be truly compliant in knowing their customer and mitigating their vulnerability in an easy ‘plug and play’ way. 

Click here to read more about the partnership. 

4. Hodge makes further investment in net zero technology company Sero

Next this week, Hodge has made a further equity investment in FinTech Wales Foundry alumni Sero, a Cardiff-based energy technology and services business, taking its stake in the company to 22%. 

Following initial investment in December 2021, Hodge and Legal and General Capital made a £5.5million joint investment in Sero, giving Hodge an initial 10.2% stake in the business, which has now increased to 22% thanks to this new deal. 

Dave Landen, CEO of Hodge, said on the recent investment: 

“In the 16 months since we made our first investment in Sero we have seen the company go from strength to strength, working with more housing associations in England and also extending its reach where it’s now advising construction companies about how to build more sustainable homes. 

James Williams, founder and CEO of Sero, said of Hodge’s further investment: 

“I’m delighted that Sero has secured further investment from Hodge and Legal & General Capital, following on from the initial investment at Series A in December 2021.  

“This is a great vote of confidence in the Sero team, our technology and our ambition to rapidly increase the scale of net zero homes in the UK.”

Click here to read more. 

5. de Novo Solutions’ Chief Exec, Mark Sweeny, shortlisted for the Technology Entrepreneur of the Year in Wales in the Great British Entrepreneur Awards! 

Last but not least this week, de Novo Solutions, a leading provider of industry vertical solutions, digital transformation and business support services for both Oracle Cloud and ServiceNow applications, have shared the exciting news that their Chief Exec, Mark Sweeny, has once again been shortlisted for the prestigious Great British Entrepreneur Awards! 

This year, Mark is in the running for the highly acclaimed title of Technology Entrepreneur of the Year in Wales. This recognition is a testament to Mark’s unwavering commitment to innovation and his exceptional contributions to the technology industry.

The awards ceremony will be held on Monday 20th November at the Grosvenor House in London.

Click here for more information about the awards.

Until Next Time

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