FundMyPitch (FMP), a leading platform that connects investors with investment-ready companies seeking funds in order to kickstart their ventures, has helped raise nearly £6m in funding for entrepreneurs using its platform in its first year of trading.

The company, founded by entrepreneur Steven Mooney in 2022, has seen a rapid increase in user base. FMP now has 3,460 registered users - of this figure 941 are listed as businesses seeking investment, with the remaining 2,519 listed as investors. The platform has helped raise a grand total of £5,773,000 for entrepreneurs and SMEs who are seeking funding for their ventures.

FMP offers users an innovative video pitch model, allowing entrepreneurs to create high-impact content to attract the interest of investors. The platform also focusses on championing early-stage business opportunities and does not charge upfront fees, meaning it has a vested interest in facilitating the successful completion of deals.

The platform also leverages advanced AI algorithms, offering an intuitive user interface, creating a dynamic investor network. Additionally, FMP has strategic partnerships with a number of key financial institutions, venture capital firms, and startup incubators.

Steven Mooney, CEO, FundMyPitch said:

“Entrepreneurs are the lifeblood of the economy, creating jobs, growth, and spreading opportunity. Yet far too many ambitious startups and SMEs cannot get access to the funding they need to expand and hire due to outdated fundraising systems.

Our mission is to give startups and SMEs a dynamic platform to showcase their offering and connect with investors, turbocharging their businesses and reaching their full potential.”

CFIT, the Centre for Finance, Innovation and Technology, today announced the appointment of Stephen Ingledew OBE and Alex Marsh as independent non-executive directors to support CFIT’s growth plans.

The appointments follow the recent launch of CFIT in Q1 2023, which was set up to unblock barriers to growth for financial technology and positioning the United Kingdom as a global leader in financial innovation. Sitting at the intersection of government, regulators and industry, CFIT is a central convening force, leveraging expertise from across the financial innovation space to set priorities, drive forward solutions and advance growth within the UK fintech sector. 

The NED appointments will serve to strengthen CFIT’s governance as it embarks on bringing together time-limited ‘coalitions’ of experts from finance, technology, academia and policy to drive better outcomes for consumers and SMEs. This is why CFIT’s first coalition will consider the opportunities within Open Finance.

Stephen Ingledew OBE, Chairman of FinTech Scotland, is an influential advocate of making the financial world more open, creative and inclusive through innovative initiatives and progressive ways of collaborating across diverse stakeholders and organisations. Stephen is Executive Chair of FinTech Scotland and is also one of the founders of the FinTech National Network which facilitates collaboration across all UK regional fintech clusters. At CFIT he will set up and chair the Remuneration and Nomination Committee, responsible for overseeing the nomination of board members and executive directors, ensuring that they have the appropriate balance of skills, experience, independence and knowledge.

Alex Marsh, Former Head of Klarna UK,  is a well-respected leader in the banking, fintech and retail sectors, a CEO, NED and Board Advisor. A strong believer in the power of innovation and collaboration, Alex has been an active member of the UK Fintech Strategy Group, the International Fintech Group and NED of the Swedish Chamber of Commerce in the UK. At CFIT, he will be responsible for chairing the Finance, Audit and Risk Committee, which will oversee risk management, financial reporting and compliance processes.

Charlotte Crosswell OBE, Chair of CFIT, said: “We are delighted to welcome Stephen Ingledew OBE and Alex Marsh as independent non-executive directors to the CFIT team. Their joint experience is incredibly relevant for us as we embark on work to support the growth and development of the UK fintech sector.” 

“Alex brings significant experience of working within start-ups and scale-ups, understands the barriers they face and has great financial and risk management expertise, which is crucial to us as a publicly funded body.” 

“Stephen’s experience in setting up and driving national fintech coalitions is invaluable to us. His four-decade-long career facilitating collaborations across all UK regional fintech clusters will be instrumental in shaping our operating model going forward.”

Stephen Ingledew OBE, Chairman of FinTech Scotland, commented: “I am thrilled to have been appointed NED for CFIT. Having set up Fintech Scotland in 2018 to deliver positive economic outcomes through financial innovation, I have first-hand experience of driving collaborations across diverse stakeholders and organisations and can bring my expertise to the team as we, jointly, lead the charge for fintech innovation across the UK.” 

Alex Marsh, Former Head of Klarna UK, added: "I am very excited to be part of the team and fully support CFITs mission to bring together the best minds from the ecosystem across the UK and help to drive better outcomes for consumers and SMEs across the UK. My experience in scaling up the UK arm of payments disruptor Klarna will bring significant benefits to the CFIT team and first hand, deep understanding of what is needed to help unblock barriers for growth for financial technology firms.” 

Crosswell concluded: “We look forward to working with our new board members to execute on the CFIT mission to support the next stage of scaling for UK-based firms and to solidify the UK as the global leader for fintech innovation.”

Fintel, the leading provider of fintech and support services to the UK retail financial services sector, today announced that is has made an investment into a new and exciting financial technology company, Plannr Technologies Limited. The investment was made through Fintel Labs, a  venture designed to foster innovation in the sector through investing in and supporting emerging financial technology. 

Plannr is an early-stage modern technology company, providing specialist CRM capability for financial advisers, planners and wealth managers. Plannr has developed an intuitive workflow which requires limited training, is easy to onboard and operate. The business has been operating for over a  year with a test pilot group of advisers, coding and developing in an agile way to hone the product ready for a full-scale launch.  

Fintel has invested into Plannr by taking an initial 25% equity stake in the business. As well as providing financial support via a convertible loan, Plannr will benefit from Fintel’s sector knowledge and unrivalled distribution network, allowing it to expedite product development and product market fit.  

Fintel’s leading financial information, ratings and fintech business Defaqto will integrate Plannr’s CRM system, extending the capabilities of its Engage Platform to realise efficiency benefits for financial advisers. This integration will allow advisers to store customer data, create workflows,  conduct financial planning, cash flow analysis, create suitability reports and publish to a dedicated customer portal, creating One solution for advice firms. 

This investment through Fintel Labs strengthens Fintel’s technology proposition and follows rapid expansion of the Group’s technology and data footprint, as it continues to grow its business. 

Matt Timmins, Joint CEO commented: 

“Plannr represents the best of modern thinking and cutting-edge development. The technology has been designed by advisers and crafted by the skilled developers at Plannr to be beautifully intuitive,  easy to use and infinitely scalable. Plannr’s powerful CRM capability has the potential to unlock important efficiencies, streamlining the advice journey and improving suitability for consumers. We  look forward to delivering better outcomes for everyone.” 

“Through our Fintel Labs incubator, we intend to utilise our position as a market connector to  accelerate the growth of exciting financial technology companies, and deliver on our mission to  deliver better consumer outcomes for the retail finance services sector.” 

Gareth Thompson, Plannr Founder and CEO, commented: 

“We are delighted to be working with Fintel as we develop the future of financial planning CRM.  Fintel’s reputation for innovation and their unrivalled market reach make them a perfect partner as  we refine and scale our offering to define a new era of financial planning CRM.” 

Fintech leaders gathered in Parliament last night to discuss the impact a lack of diversity, increased regulation, and limited access to funding will have on the future of the industry.

Speaking at the Parliament Street think tank’s fintech summit on Monday night, which was hosted by Dean Russell MP for Watford and chaired by Steven George-Hilley of Centropy PR, a panel of fintech experts debated the role businesses should play in recruiting and building a more diverse fintech workforce along with the threat posed by AI to job creation.

“Educating young people on fintech and financial literacy is key. As the compliance space grows, not only the business but individuals themselves should be mindful of actions,” said Caroline Ruto, Head of Compliance at DKK Partners.

Fintech entrepreneur Aaron Carter, Managing Director, Showpiece added, "Education is paramount in the financial sector. For example, developing an understanding of what sits behind an asset and knowing who the true owner is can be incredibly valuable."

"Diversity is challenging in finance and technology. We all know that diverse organisations perform better but it's about taking action to solve it," added Steve Hadaway, CRO, Encompass Corporation.

Leading academic Dr Iwa Salami, Director, Centre of Fintech, of the University of East London said, “Giving students the opportunities to learn about financial technology is becoming more important and can help drive diversity inclusion.”

Attendees also discussed the future of the fintech industry in the face of funding shortfalls.

“Fintechs across the globe are experiencing turbulence within the regulatory landscape. The funding environment can also be difficult to achieve growth where some areas are oversaturated, but fintech is not dead,” added Jim McCarthy, EVP, Thredd.

"We tend to judge things in tech and innovation as they are now. If we look at the change of the past 10 years, we can expect to see that in the next 10 to help put developments in perspective”, said Laimonas Noreika, co-founder and CEO, HeavyFinance.

New research from Vodeno/Aion Bank has revealed how embedded banking adoption is significantly boosting brand loyalty for companies, with consumers more likely to use embedded banking products from brands as a result of the cost-of-living crisis.  

The European Banking-as-a-Service (BaaS) provider’s study revealed that over a third (37%) are more likely to seek out brands that offer BNPL and flexible payment options due to the high cost of living, with this figure rising to 50% in the 25-34 age range. Competitive prices are cited as the most important factor to 44% of consumers when it comes to their brand loyalty, closely followed by a good selection of products (43%). 

The results highlight that the availability of embedded banking products directly in the websites and apps of consumer brands are starting to make an impact on customer loyalty, with two in five (40%) consumers say they will only stay loyal to brands that offer financial benefits like BNPL and cashback, with this figure rising to 50% among 25-34-year-olds. When it comes to engagement with loyalty programmes, just under half (46%) said they are more likely to use a brand’s loyalty card to make purchases if it included BNPL. This figure was highest amongst the youngest consumers surveyed, rising to 53% for those aged 16-24 and higher still (65%) in the 25-34 demographic. 

When consumers were asked how often they shop with their favourite brands, 19% of respondents said ‘monthly’ and a further 16% said ‘once every two or three weeks’. However, among those who have used a brand’s embedded banking product, 36% said they return to that brand’s app or website between three and five times a month, with this figure rising to 43% among the 25-34 age group. 

Vodeno/Aion’s research highlights the commercial and loyalty benefits of embedded banking, with just under one quarter 23% saying they are more likely to recommend the brand to friends and family, while the same number (23%) said they are more likely to spend money with the brand over competitors.  

Kim Van Esbroeck, Country Head for Aion Bank Belgium and Chief Revenue Officer for Vodeno/Aion said: “The benefits of embedded banking cannot be ignored, and our research offers strong evidence that consumers are not only using these products, but it is also positivity influencing their loyalty to BaaS-enabled brands. 

Competition for the consumer has never been more fierce, particularly in these difficult financial times, and brands that offer flexible payment and lending options provide more choice, which can boost consumers’ spending power when they need it most. Embedded banking is also making an impact on brand loyalty, with 43% of 25-34 year olds saying they shop more at brands that offer an embedded banking product. We have already seen how BaaS-enabled embedding banking is helping to innovate customer journeys, and it is clear the next area of disruption will be to supercharge brands’ loyalty programmes.” 

Trading Technologies International, Inc. (TT), a global capital markets technology platform provider, today announced that the firm has established a new foreign exchange (FX) business unit, TT FX, and appointed industry veteran Tomo Tokuyama to lead it. Tokuyama has an extensive FX trading track record on the buy side and sell side, most recently as Head of Trading at a multi-billion dollar quantitative fund manager.

TT made the announcement at the start of the FIA International Derivatives Expo (IDX) in London.

TT FX represents the firm’s latest expansion into new asset classes, following its acquisition in March of AxeTrading, a leading global provider of fixed income trading solutions. Tokuyama will manage the new business line with initial focus on the hiring of other key talented FX industry product and technology experts, connectivity to major electronic communication networks (ECNs) and liquidity providers, and the delivery of advanced FX trading capabilities through TT’s execution management system (EMS).

The first phase of implementation for TT FX, slated for late 2023, will enable TT buy-side clients to trade spot FX through a choice of curated ECNs. In early 2024, TT will extend the offering to include liquidity from major banks and expand the product set to include forwards, non-deliverable forwards (NDFs) and swaps.

TT CEO Keith Todd said: “We have more than 6,000 buy-side users alone on the TT platform – including hedge funds, CTAs, proprietary traders and commodity trading firms – who already trade a huge amount of FX on other systems and platforms. Following many months of outreach and research with our clients, we’ve heard significant positive feedback and strong demand to consolidate this activity on TT’s EMS. TT FX will leverage the unparalleled global distribution capabilities of our platform, the award-winning functionality of our EMS and the widest possible choice of liquidity providers to deliver a truly best-in-class solution. We are delighted to have Tomo on board to lead this initiative for TT. He brings a wealth of knowledge and expertise in this space from both the sell-side and buy-side perspectives.”

Tokuyama said: “I have long believed that technology will continue to advance and shape the future of FX trading through greater focus on automation and data. I’m pleased to join a firm that not only shares that view but listens carefully to clients to deliver innovative tools and access to markets that traders and firms actually want. FX is in high demand by TT clients, and I’m excited about the opportunity to further shape the FX strategy and deliver a product that TT clients will be proud to use.”

For more than a decade, Tokuyama was at Los Angeles-based First Quadrant, LLC, a quantitative fund that at its peak managed over $25 billion in assets. As Head of Trading, he transformed the firm’s FX trading from 98% voice execution to 95% electronic, and positioned First Quadrant at the forefront of FX algorithms and automation. He was responsible for managing the trading team and overseeing all trading activity at the firm including FX, equities, commodities, futures, listed options and total return swaps. He, along with the head of Portfolio Construction, managed day-to-day implementation of the firm’s portfolio strategies and analyzed new ways to improve trading efficiencies, which included vetting all of the latest Fintech offerings. 

Prior to joining First Quadrant, Tokuyama worked at Goldman Sachs in Tokyo and Hong Kong, where he was a member of the Macro Asset Sales team specializing in electronic FX, responsible for distributing the Goldman Sachs electronic FX offering across Asia.  He was instrumental in launching both electronic NDFs and first-generation FX algorithms.

Tokuyama is a frequent speaker at FX and financial services industry events and has served on numerous advisory boards, including for Best X, FX Connect, FX Hive and the TradeTech FX conferences. He earned a Bachelor of Commerce degree in management from Toronto Metropolitan University.

BVNK, a global payments company, is pleased to announce its expansion plans for the Asia-Pacific (APAC) region. With the appointment of Anthony Man as the new General Manager for APAC, BVNK reinforces its commitment to the region's growth and potential.

In May, BVNK submitted its MPI (Major Payment Institution) license application for APAC, marking a major step toward establishing its presence in the region. The application process reflects BVNK's dedication to expanding operations globally.

BVNK combines traditional payments infrastructure with distributed ledger technology (DLT) to create modern nails for moving money, enabling its customers to send, receive and convert traditional and digital currencies seamlessly across 61+ countries. The company is on track to secure licenses in 15 markets within the next 12 months, building on its existing EMI and VASP licenses in UK and Europe, further solidifying its position as a global leader in the payments technology sector. 

Recognising the immense potential of the market for payments across APAC, BVNK Co-Founder, Chris Harmse, temporarily relocated to Singapore in March to kickstart APAC expansion. As a result, BVNK has already established its founding team in Singapore and plans to expand its presence over the coming months. Singapore, known for its thriving fintech ecosystem and robust regulatory framework, provides an ideal hub for BVNK's innovative payments offering and expansion into APAC.

"We are excited about the opportunities the APAC fintech market presents for BVNK," said Jesse Hemson-Struthers, CEO of BVNK. "Singapore's strategic location, vibrant fintech ecosystem, and forward-thinking regulatory environment make it the perfect base for our expansion. We are confident that our presence in Singapore will enable us to deliver tailored payment solutions to our customers in the APAC region while contributing to the growth and development of the local fintech landscape."

The appointment of Anthony Man as General Manager for APAC brings a wealth of industry expertise and international experience to BVNK. Anthony's proven leadership skills and track record of driving growth in his previous role at Currencycloud make him an invaluable addition to BVNK's leadership team.

“I am excited to join the team of entrepreneurs, innovators and experts at BVNK as we build our team in APAC. Submitting our MPI application is an important first milestone in our APAC journey and an indicator of our intention as we expand our business across the region and globally.”

• 19.06.2023 -- 06:41 pm

ZERO13, a GMEX Group initiative providing a digital climate fintech aggregation ecosystem, and Zumo, the B2B digital assets infrastructure, announce a collaborative solution targeted at banks and their corporate and institutional clients who are looking to account for the carbon footprint of their digital assets and any aspect of their value chain.

The integrated solution will seek to enable Zumo to leverage GMEX ZERO13's hub connectivity to digital carbon registries, trade execution venue capability and its decentralised asset settlement network to source validated, high-quality, tokenised carbon credits. The solution will also provide customers with a flexible and transparent way to account for their carbon footprint through the procurement and custody of tokenised carbon credits, with ease of trading, clearing and settlement.

Zumo's established position as an FCA-registered UK entity will enable GMEX ZERO13 to harness Zumo's capabilities to onboard new banks, corporates and other institutions to its trading platform. This will support clients in their efforts to execute ESG Strategies with the help of blockchain technology.
 

Hirander Misra, CEO of GMEX Group and ZERO13, commented, "We are delighted to be able to unite the twin pillars of tokenisation and voluntary carbon markets with Zumo. Tokenised assets will represent some 10% of global GDP by 2030, while the global market for voluntary carbon credits is also forecast to increase exponentially in the coming decade. By leveraging the integrated tools from Zumo and distribution capabilities available through the ZERO13 platform, we can together deliver a transparent and trusted way for organisations to effectively trade, clear and settle their carbon credit purchases in a manner publicly verifiable by stakeholders."

Nick Jones, CEO of Zumo added: "This collaboration supports our ambition to be the one-stop shop for tokenised ESG assets and follows the recent launch of Oxygen, our B2B solution that quantifies electricity-based Scope 3 emissions associated with digital asset holdings with blockchain-verified Renewable Energy Certificates. Blockchain is emerging as a 'digital enabler' in tackling climate change and supporting the energy transition to a more sustainable infrastructure. Tokenising carbon credits and being able to accurately measure carbon footprint is a great example of the regenerative finance (ReFi) movement."

Key to the collaboration will be enabling Zumo's customers to operate their own and/or access trading platforms and associated liquidity pools for high-quality carbon credit assets and other instruments, and to provide end-to-end efficiency through the transaction lifecycle from onboarding (KYC/AML) to settlement. Through the GMEX ZERO13 Hub and ZERO13 Chain (Pyctor), banks and their customers can connect seamlessly with each other and with third-party registries, exchanges, and other counterparties to issue, trade, clear and settle tokenised carbon credits.

• 19.06.2023 -- 06:10 pm