UK: Sharing economic system insurance coverage supplier Pikl has certified as considered one of 31 fintech and insurtech firms to have been chosen for this yr’s cohort.
That is the primary yr that insurtech firms have been eligible for the Fintech programme. In recognition of the affect Pikl has made to the business during the last three years, founder and CEO, Louise Birritteri, has additionally been invited to hitch the Tech Nation Board.
Fintech 3.zero is a progress programme run by Tech Nation for the most effective and brightest UK fintech and insurtech firms. It’s designed to supply firm leaders with the teaching, content material and group that they should scale up, bringing collectively a community of purposeful founders and philanthropists, progressive enterprises and policymakers, influential funds and establishments, as a way to collaborate in constructing the technological innovation that can enhance the long run for the UK and past.
Now in its third yr, it was the primary sector-specific progress programme that has been run with the 2 earlier years’ programmes having proved to be immensely profitable.
Tech Nation’s purpose is to gasoline the expansion of game-changing founders, leaders and scaling firms to allow them to positively rework societies and economies.
The bulk [around 80 per cent] of its funding comes from the UK Authorities’s Division for Digital, Tradition, Media & Sport [DCMS], which in 2019 was £7.1 million. The remainder is generated from sponsorship and paid-for instructional programmes.
Birritteri mentioned: “We’re delighted to have been chosen. The competitors to get on the Fintech 3.zero programme is fierce with a whole lot of firms making use of.
“This programme will certainly assist us to scale up quickly to reap the benefits of the rising marketplace for sharing economic system insurance coverage. There’s quite a lot of value to be gained from it particularly attending to entry to mentors who’ve been profitable in scaling their companies, professional coaching, invites to hitch authorities commerce missions and constructing our profile nationally and internationally.
“I can’t wait to get going and to be invited to join the Tech Nation Board is a real privilege for which I am truly grateful,” she added.
Pikl is considered one of solely two firms from the east of England to have been chosen and the one one in Norfolk.
Liam Grey, programme lead, Fintech, mentioned: “The UK’s fintech ecosystem is world-leading, and, because it matures additional, we’re seeing a rising quantity of fintech scale-ups. These firms have already achieved some unimaginable issues and are focusing on accelerated progress each domestically and internationally.
“Tech Nation’s Fintech programme supports companies like these to connect with other fintechs at a similar stage, learn from experts and expand their network. It’s a unique and valuable opportunity to learn in an open and intimate setting,” he added.
Tech Nation’s mission is to unlock the expansion potential of 1,000 scaling tech management groups throughout the UK by 2022.
Over the previous 5 years, Tech Nation programmes have engaged practically 2,000 companies, together with 600 firms by way of its progress programmes, already contributing greater than £425 million of Gross Worth Add [GVA] for the UK economic system. Final yr’s Fintech programme cohort included Credit score Kudos, PrimaryBid, Honcho Markets, ANNA Cash and Goodbox.
To use for the programme, firms needed to fulfil sure standards:
- Be headquartered within the UK
- Be a fintech or insurtech firm
- Be on the equal of seed to Collection A funding stage [if the company is self-funded, maximum annual revenues are £1.5 million. Companies having raised Series A can apply until a maximum of three months after they closed the round].
- Provide a services or products to companies and / or people [B2B businesses must have at least one active client or pilot. B2C businesses must have a product fully deployed in market already – no beta].