Edinburgh-based Smart Data Foundry has entered administration following a funding shortfall and mounting cash flow pressures, resulting in 25 redundancies.

Michelle Elliot and Callum Carmichael of specialist business advisory firm FRP Advisory were appointed joint administrators of Smart Data Foundry Limited on August 28th.

Established in 2022, the not-for-profit data analytics organisation was set up to unlock the value of private-sector financial data for public benefit through secure data sharing, research and analytics services.

Its work sought to support organisations across the public, private and third sectors in addressing societal challenges through the responsible use of financial data.

According to administrators, the company experienced increasing financial pressure during 2026 as a result of a funding shortfall and ongoing cash flow constraints.

Despite exploring a range of alternative options, Smart Data Foundry was ultimately unable to meet its financial obligations, prompting its directors to place the company into administration.

The company ceased trading following FRP’s appointment and 25 employees were made redundant.

Five employees have been retained for a short period to help preserve and safeguard Smart Data Foundry’s assets, principally its intellectual property, while administrators are supporting affected staff in submitting claims to the Redundancy Payments Service.

In a statement provided to DIGIT, Michelle Elliot, partner at FRP and joint administrator, said: “The directors and management team worked hard over an extended period to secure a sustainable solution for the business, exploring a range of options before the Company entered administration.

“Smart Data Foundry has made significant efforts to demonstrate how financial data can be used to support economic wellbeing objectives, including helping to address poverty and inequality.

“Our immediate focus is on supporting affected employees and preserving the value of the Company’s intellectual property. We are now exploring opportunities to realise value from the assets for the benefit of creditors and encourage any interested parties to contact us.”

Administrators are now working with key stakeholders to maximise the value of the company’s assets for creditors, with specialist agents assessing its intellectual property.

Smart Data Foundry is a wholly-owned subsidiary of the University of Edinburgh, although it operates as a separate legal entity. The organisation describes itself as a private limited company by guarantee registered in Scotland.

In a statement provided to DIGIT, a University of Edinburgh spokesperson said: “The University understands that Smart Data Foundry Limited has appointed an administrator, and we acknowledge the associated significant impact on its employees and stakeholders. While this is a regrettable situation, as Smart Data Foundry Limited is separate legal entity, it is not for the University to comment on decisions that the company directors have taken while acting in the best interests of the company and its stakeholders.

“The University will continue to adopt a collaborative approach to working with all relevant parties as next steps are determined.”

Smart Data Foundry has received substantial public backing during its development.

Its first five years of operation were supported by a £22.5 million grant from UK Research and Innovation’s Strength in Places Fund, with the programme running from August 2021 until August 2025.

In January 2025, the organisation announced that it had been awarded a further £3m from Smart Data Research UK, part of UKRI, to operate the Financial Data Service (FINDS).

FINDS was established to give researchers secure access to financial data covering areas including household financial health, economic resilience and regional economic activity.

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The service is a collaboration between Smart Data Foundry and the University of Edinburgh and has provided researchers with free access to data drawn from millions of UK account holders.

The future of FINDS and Smart Data Foundry’s other existing research and data partnerships following the administration has not yet been confirmed.

Companies House records also show that Smart Data Foundry registered a charge in favour of the University Court of the University of Edinburgh in May 2026.

The charge was created on 22 May and remains outstanding, with its listed security including intellectual property such as UK registered trademarks.

DIGIT has contacted Smart Data Foundry directly for further comment on the circumstances surrounding the funding shortfall, the future of FINDS and its other projects, and the nature of the charge registered in favour of the University.

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