The Tech Nation Fintech Programme has named 20 companies that will make up the first cohort since its launch.

The cohort showcases some of the UK’s most promising up-and-coming fintech startups. The companies selected, which include Edinburgh-based firms Float and Sustainably, are driving innovation through the financial services sector and demonstrate the radical potential of fintech to improve essential services, such as payment solutions and banking.

Tech Nation Fintech Programme

The fintech programme is open to founders of early-stage fintech companies. UK-based companies ranging from the seed to series A stage had to demonstrate market success for their product to be eligible.

The founding team programme will include a 24-hour induction, a series of eight in-depth learning sessions, as well as five networking dinners, and will culminate in a three-day showcase trip to the USA in January 2019.

Insight sessions will be delivered by some of the most reputable fintech entrepreneurs, investors and partners – covering topics such as regulation, expansion and partnerships with established organisations. The sessions will take place in London, Edinburgh, Manchester and Leeds in order to encourage cross-country networking.

Float CEO, Colin Hewitt, said: “There is always so much value to be had from peer learning, and building relationships with other founders that will last. Adding into that the mentorship, and experience from industry leaders, made the programme difficult to resist!”

Global Leader

The variety of selected companies reflects the dynamic nature of the UK fintech sector, which is developing rapidly. Of the 20 companies selected, seven are based in locations throughout the country, including Edinburgh, Cardiff and Norwich.

A strong presence of companies based outside of London highlights the broad range of innovative firms that can have a positive impact on the financial services sector in the UK.

Gregoire Michel, the Tech Nation programme lead, said that while London remains the “most important fintech cluster in the UK”, the organisation is “delighted” that more than one-third of the first cohort will come from outside the UK’s capital city.

Louise Smith, fintech envoy for Scotland and head of design in personal and business banking at RBS also highlighted the inclusion of two Edinburgh-based firms, stating: “I’m thrilled to see two Edinburgh startups have been chosen to join in the first ever Tech Nation Fintech Programme.”

Smith added that Scotland’s contribution to this sector is growing, while Edinburgh retains its status as a key financial centre.

“After London, Scotland turns out the most fintech related graduates in the UK,” she said. “Fast-growing fintech startups like Float and Sustainably will make sure that Edinburgh continues to be a thriving financial centre for decades to come.”