Three Welsh firm have been selected to join a national fintech programme.
The three companies are among 31 tech scale-ups who have joined the Tech Nation growth platform for tech companies and leaders.
The programme, which has seen 20% rise in applications from the year before, aims to support the growth of the UK’s most promising fintechs.
Coincover, Credas and Moneyshake were selected to join the Fintech Cohort 3.0. And 60% of companies joining the programme are from outside of London, while on average the companies have raised £3.3m and employ 18 people.
New data has found the UK has the largest number of fintech unicorns, with 22, in Europe and the greatest level of fintech investment, with $2.5bn raised in venture capital investment in 2020 so far.
The latest cohort includes companies from across the fintech sector; operating in areas such as: insurance, regtech, open banking and digital ID. This year’s group features a high proportion of insurtechs, at 20%; with this being the first year that insurtech companies qualified for the programme.
The six-month fintech programme is tailor-made to support founders and the wider leadership team for UK fintechs. It consists of insights sessions delivered by some of the most established fintech entrepreneurs, investors and partners, covering topics such as sales, partnerships with incumbents and expanding internationally and to give companies and founders the tools and knowledge they need to scale.
Liam Gray, fintech lead, Tech Nation said: "The UK fintech ecosystem is truly world leading and its strength is clearly demonstrated by the calibre of companies on this year's Tech Nation Fintech programme.
"Our third cohort will officially introduce insurtechs to the programme, a sub-segment of fintech that has matured significantly in recent years. This cohort will also be the most geographically diverse group of fintechs we've ever had, with 60% located outside of London, highlighting the growing prevalence of regional fintech hubs."
