Tech Nation welcomes UK’s 51 most exciting fintech companies to its Fintech growth programme

Tech Nation, the UK’s leading growth platform for tech scaleups, today announces the 51 companies who have been accepted into Fintech 5.0 - the fifth iteration of Tech Nation’s sector-specific growth programme for fintech entrepreneurs to enable their startups to scale, both at home and abroad.

Companies accepted into the newest Fintech cohort are working to transform all areas of the finance sector; from insurance and investment, to blockchain and digital assets.

The Fintech 5.0 cohort includes an ethical investment platform which is committed to addressing climate emergency (Abundance), a credit card that helps young people build credit to jumpstart their futures (Keebo), and a platform to help people set up a Will and digital end-of-life plan to make things easier for loved ones left behind (Kinherit).

Together, the new Fintech companies have raised more funds than any cohort in previous years, with a collective total raise of £149.2m (up from £128.1mn last year). Nearly half (49 per cent) of the companies have at least one non-British founder, and they operate across 38 different countries (including the UK).

The high-growth companies join the programme as fintech grows significantly across the UK. The fintech sector has reached entirely new heights, already receiving $9.3bn in 2022 (January - August), up from $8.67bn for the same period in 2021 ($13.2bn overall in 2021), and Q1 2022 hit an all-time record for quarterly investment into UK fintech (at $5.5bn).

More than three quarters of investment made into UK fintech in 2022 so far ($7.2bn) has come from US investors (up from half of investment in H1 of 2021), showing the international appeal of some of the UK’s world leading fintech firms.

In 2022, the top 4 UK fintechs to receive highest funding are FNZ (at $1.4bn, growth equity), Checkout.com (at $1bn, Series D funding), Bloom ($300mn, Series A) and GoCardless ($312mn, Series G).

In 2022, Tech Nation’s Future Fifty alumni Checkout.com became the UK’s most valuable fintech company, surpassing Revolut (which is valued at $33bn, and was the UK’s most valuable fintech in 2021) with a valuation of £40bn. Combined, the UK’s fintech companies are valued at $371.9bn, up 23 per cent from $301.2bn last year.

Tech Nation’s six-month government-backed Fintech programme was created to support fintech and insurtech companies in the UK. Companies accepted into the programme have access to networking events with key stakeholders, peer-to-peer meetups, and insights sessions delivered by established fintech entrepreneurs, investors and partners, which give cohort members the tools and knowledge they need to scale.

Will Miller, chief growth officer at Tech Nation, said: “In 2022, we have seen another wave of fintech startup and scaleup companies thrive in all regions of the UK. With Q1 2022 setting an all-time record for quarterly VC investment into UK fintech, and the UK now being home to 47 fintech ‘unicorns’ - with 4 new fintech unicorns created this year alone - it’s clear that the UK’s fintech sector is going from strength to strength.

“It’s a pleasure to support these businesses along their scaling journey as they continue to cement the UK as a global fintech powerhouse.”

By Mark Adair – Correspondent, Bdaily

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