The FinTech Five – July 7th 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. Leading UK FinTech company and FinTech Wales member relocates to Cardiff
IE Hub, a leading UK FinTech company that provides an income and expenditure hub for financial services providers, utility companies and consumers, has relocated to Cardiff. The company has completed a £1 million fundraising round that has been led by a syndicate of business angels and Angels Invest Wales.
IE Hub was founded by industry professionals and offers a free online tool that allows users to complete income and expenditure forms in a stress-free and convenient manner. The platform also features a benefit checker tool that allows customers to determine eligibility for means-tested benefits and water social tariffs.
The company’s relocation to Cardiff is supported by lead investor Eamon Tuhami, who sees the city as a “key player” in the UK’s FinTech sector. Tuhami believes that IE Hub’s decision to relocate to Cardiff is a vote of confidence in the city’s growing tech scene.
IE Hub’s move to Cardiff is also seen as a boost for the city’s economy. The company plans to create 10 new jobs in the city, and it is expected to generate £1 million in economic activity in its first year of operation.
The company’s relocation to Cardiff is a sign of the growing importance of the FinTech sector in the UK. FinTech companies are using technology to disrupt traditional financial services, and they are increasingly being seen as a source of economic growth. Cardiff is well-placed to become a leading hub for FinTech in the UK, and IE Hub’s move to the city is a positive step in that direction.
2. CCR launches £4.73M Cluster Development and Growth Programme to nurture priority Skills, vital Academic/Industry Partnerships and bespoke Business Growth Programmes.
Cardiff Capital Region (CCR) has launched a £4.73 million Cluster Development and Growth Programme to nurture priority skills, vital academic-industry partnerships, and bespoke business growth programmes in South East Wales. The programme is funded by the UK Government’s Shared Prosperity Fund and will support four key areas:
- Skills: The programme will provide funding for training and development programmes that will help people in South East Wales acquire the skills they need to succeed in the jobs of the future.
- Academic-industry partnerships: The programme will support partnerships between universities and businesses in South East Wales to conduct research and development projects that will lead to new products, services, and technologies.
- Business growth programmes: The programme will provide funding for business growth programmes that will help small and medium-sized enterprises (SMEs) in South East Wales grow and expand.
- Good growth: The programme will focus on “good growth”, which is economic growth that is inclusive, sustainable, and fair.
The programme is open to all businesses and organizations in South East Wales. Applications for funding are now open and will close on 15 September 2023.
3. Wales’ first all-female angel investor syndicate has made its first investment in a new business intelligence platform.
The Women Angels of Wales (WAW) syndicate invested £60,000 in Talent Intuition, a Newport-based company that provides a SaaS product called Stratigens. Stratigens brings together labour market, economics and location data to provide businesses with the insight they need to make smarter decisions.
The WAW syndicate is made up of experienced businesswomen who are passionate about investing in early-stage businesses. The syndicate was founded earlier this year with the aim of encouraging more women to become angel investors and to support female-led businesses in Wales.
The investment in Talent Intuition is the first for the WAW syndicate and is seen as a vote of confidence in the company’s potential. Talent Intuition is already working with a number of major brands, including BP, EY and Netflix. The company is also planning to expand its team and its product offerings in the coming months.
The investment from the WAW syndicate will help Talent Intuition to accelerate its growth and to reach a wider range of businesses. The company is also hoping to use the investment to attract additional investors and to expand into new markets.
The investment by the WAW syndicate is a significant milestone for the company and for the Welsh early-stage investment community. It is a sign that there is growing support for female-led businesses in Wales and that there is a strong appetite for investment in early-stage companies.
4. Wales Tech Week announces FinTech Wales as FinTech Zone Partner to reflect strength of flourishing sector.
FinTech Wales will be joining Wales Tech Week as its official FinTech zone partner, summit creator Technology Connected has announced. The collaboration aims to showcase the remarkable Welsh innovation and technological capability within the FinTech sector.
A key driver for the Wales Tech Week summit, a physical and online event that takes place in Newport in October, is to platform the breadth and depth of Welsh expertise, which includes highlighting the impressive innovation and growth of the fintech sector in Wales.
As a key partner of Wales Tech Week, FinTech Wales recognises the summit’s potential to promote Welsh companies globally, highlight the strength of the FinTech ecosystem in Wales, create opportunities for entrepreneurs, and attract and cultivate new talent.
Speaking about the strength of the FinTech sector in Wales, Sarah Williams-Gardener emphasised, “Wales’ FinTech ecosystem boasts an unbeatable combination of the most innovative and collaborative organisations and professionals. The FinTech services and solutions being created and delivered from Wales are making a difference to companies and individuals all over the world, every single day, and it’s our role to be louder and prouder of such achievements.
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.