Throughout March at TechSPARK, we’ve been talking about all things fintech – from defining the term to finding some of the best jobs in fintech right now and thinking about the future of payments – all made possible thanks to Dojo, the smart payments experts and Fintech Month’s sponsor. 

Back in 2020, Whitecap conducted a deep dive into the South West’s fintech scene, which produced some promising and inspiring findings for the future of fintech in our region, a key conclusion being: “FinTech provides a material economic growth opportunity for the UK and for the Bristol & Bath region. On a national level, the sector is expected to create approximately 30,000 more jobs and over 1,600 new businesses by 2030.” Amongst this, FinTech West has announced its ambitious growth plans for 2022 and we’ll also be seeing the planned Spring launch of the FinTech West accelerator, powered by SETsquared

So, with such a hive of activity here, we thought it was time to highlight some of the awesome fintech startups, scaleups & SMEs working to put the sector on the map.

Dancerace was one of the world’s first online banking systems; the first receivables system to offer a modern graphical interface; the first to the cloud. There are three ways in which their lending technology can transform your commercial finance business: 

  • Gain visibility and take control with the ABL and receivables finance operating system that grows with your business.
  • Offer faster, simpler onboarding for new clients; keep them engaged with intelligent, easy-to-use dashboards.
  • Benefit from specialist training and support to drive maximum value from your system.

Dancerace has announced that they were the first software investment from Newable Capital. This follows their existing interests in medicine, AI, space and robotics technology. Newable, supports UK growth companies with funding, advice and resources. 

Elliot Avison, Dancerace CEO says. “Since opening our doors in 1992, Dancerace has focused on staying one step ahead and shaping the future of working capital technology. We’re excited to work with Newable to write our next chapter as a company, and are happy to have found another team that shares our love of bold thinking and supporting businesses to grow.”

Dojo creates payment tools and technology that empowers over 30,000 businesses across the UK and Ireland to thrive. In an increasingly digital world, they harness technology to create tools that turn transactions into meaningful relationships.

If you use Dojo’s services you can expect innovative solutions that enable your business to create excellent customer experiences. Their ambition is to make payments as frictionless as possible by providing tools to help businesses understand their cash flows, and manage great consumer journeys to thrive in the experience economy.

Tangibly, this means a card machine that combines sleek design and powerful technology for reliable, fast and secure payments at the till, the table or on the move – the Dojo Go. Alongside this, you can enjoy effortless integrated payments – software that wirelessly connects your card machine to your EPOS in the cloud for a smooth experience and easy end-of-day reporting. 

Dojo Go also processes card transactions 80% faster than the industry average, which means shorter queues and minimising the chance of awkward interactions. You’re able to claim your takings the very next day – and Dojo is the only UK payments provider that doesn’t charge you for this on weekends and bank holidays. To top it off, all of this is easily accessible on their handy app.

Flexys provides the leading scalable, flexible and extensible debt management, collection and recovery solution for the digital age. Their cloud-native solution maximises operational efficiency, reduces the cost to collect and ensures that you deliver the best possible customer service while protecting your business from reputational and regulatory risk – something they call Intelligent Debt Resolution.

Based at the University of the West of England (UWE Bristol) Future Space innovation hub, the team has a host of impressive achievements and collaborations. In 2020, Flexys was certified to the internationally recognised standard ISO 27001 Information Security Management Systems by the business improvement company, BSI – which essentially means ‘gold standard.’ 

Flexys also teamed up with PwC to provide banks with a smart solution to manage loans offered to their customers as part of the government’s initiative to enable businesses to maintain financial stability during the Covid-19 pandemic. Together they developed a platform that helps banks manage customer requests for ‘Pay as you Grow’ (PAYG) options on their Bounce Back Loan (BBLS).

Last October, Hannah Dockings, Research Engineer in Artificial Intelligence at Flexys took home our FutureSPARK award at The SPARKies 2021.

Moneyhub is all about Open Banking and Open Finance. Moneyhub is a data and payments company that develops ISO 27001 certified software for Open Banking, Open Finance, and Open Data applications. Its FCA-regulated Open Data platform enables companies to quickly and easily transform data into personalised digital experiences and initiate payments. Its APIs and fully customisable platform provide data aggregation, insights, notification nudges, and payment systems. As a result, clients have the consent-driven data and analytics they need to create super-personalised offers, products, and services. Hundreds of organisations, spanning finance to media and retail, rely on Moneyhub’s award-winning technology. 

The company was originally founded on the frustration of how difficult it was for consumers to access and interact with their financial data and so the team set out on a mission to improve financial wellbeing. Whilst the business has now evolved, the Moneyhub app also allows users to access all their accounts securely in one place, covering pensions, mortgages, loans, investments, savings, properties and current accounts, to name a few.

Last year, Moneyhub announced its largest investment to date, securing $18m to grow their reach across Europe. CEO Samantha Seaton was featured in our recent feature on women who have raised investment. She tells us, “Being a female CEO in the Fintech sector is very gratifying. I would urge young women looking to enter this sphere to focus on what they want to achieve and absolutely go for it. If you’re really passionate about it, you’re already in a great position.”

The Pixie App was created to enable people to live and enjoy a more local life. On the app you can explore, pay and get instant cashback at unique independent businesses across communities. 

It also includes a Pixie card, which lives either in your purse or in your Apple Wallet. You can sign up in less than a minute using your name and email address, then securely add your debit card or use Apple Pay to add funds to your account—and you’re ready to start paying using Pixie across our growing community of independent businesses.

When you buy something using a Pixie Card you get a percentage of your purchase back in cashback. It’s real cash so unlike points or other rewards it never expires or loses its value. Every independent business on Pixie sets their own cashback percentage. Simply view their profile to see what cashback percentage they offer.

Whether you’re looking for somewhere new to explore, a great coffee shop nearby, a new pizza place to try or browse for that next favourite book, Pixie is a great local guide for finding the perfect place to eat, shop, drink, explore, and relax.

Roqqett’s ambition is to simply make payments better: for consumers, retailers and anyone who needs to pay or get paid safely and securely. Most of the card payment systems people use daily were invented 60 years ago, they think it’s time for an upgrade.

When using Roqqett, retailers keep more of the money they make as they offer much lower fees than any competitors. In their Startup for 10 feature, founder & CEO, Glenn Smith says, “Yes we’re saving people money, but it’s so much more than that – we want to turn payments on their head: there are no terminals that merchants have to buy and they’re not locked in. For consumers, you can see all of your money in one place, no matter who you bank with. You can pay friends and buy goods and services, including making secure payments in shops from two metres away.”

Included in our Tech for Good Fintech feature, Roqqett is here to make payments better: for consumers, retailers and anyone who needs to pay or get paid safely and securely. Most of the card payment systems people use daily were invented 60 years ago, they think it’s time for an upgrade. Born in 2020, Roqqett is an exciting FinTech startup with an astounding vision to disrupt the world of payments.

Seccl is rebuilding the infrastructure of investments and advice. Their software allows ambitious fintechs to quickly get to market with innovative investment or advice products – and helps financial advisers and investment managers to build stronger, more valuable businesses by operating their own investment platform.

Their technology helps forward-thinking financial advisers and investment managers to improve their client experience, lower their costs and take control of their business by operating their own platform.

In our Startup for 10 interview with co-founder, David Harvey, he tells us: “The opportunity to fundamentally change the wealth management sector from the ground is hugely exciting. The existing infrastructure of investments and advice is outdated, inflexible and expensive.

“We hope to rebuild it from scratch and move the technology story forward in financial services (arguably the sector where change is needed more than any other…). And, besides, the potential human impact is huge. The simple fact is that not enough people are getting the help and support they need to make better financial decisions. We hope that our technology will go some way to making the worlds of investing and financial advice more affordable and accessible.”

An impact-focused financial technology firm, Tumelo is aiming to enable retail investors and pension members to create and benefit from a more sustainable investment system. Tumelo was established at Cambridge University, where the founders, Georgia, Will and Ben, campaigned for the sustainable investment of their university’s £6 billion fund.

They recognised a global problem: Millions of ordinary people contribute to our investment system through ISAs, workplace pensions, and other investments. Yet most have no visibility over where their money is going and no voice at the many companies they own through their investments. The result? A society that is disengaged and an investment system that is failing to address critical social, environmental and governance challenges. Tumelo is a marker of the fintech for good movement, as featured in our listicle here

Co-founder Georgia tells us more: “We strive to achieve this vision by partnering with progressive investment and pension providers, enabling them to provide their customers with transparency over the companies they own and a shareholder voice on issues they care about, such as gender equality or climate change.”

You can check out our Digital Her interview with Georgia on her personal journey here.

Tumelo