Innovate Finance, the independent industry body for UK Fintech, has launched the Unicorn Council for UK Fintech (UCFT), a coalition of UK-based Fintech unicorn founders to accelerate and unlock promised growth in the UK FinTech sector.
The Council will be “co-chaired by Janine Hirt, CEO of Innovate Finance, and a steering committee of FinTech leaders including Philip Belamant, CEO of Zilch and Charles McManus, CEO of Clearbank.”
The Unicorn Council for UK Fintech will aim to “provide the government with key policy recommendations to both protect and maintain the UK’s global position in Fintech, ensuring the country successfully meets the investment and growth challenges over the next 10 years.”
Fintech is a crucial strategic sector of the UK economy, “contributing to the country’s innovation, productivity and growth. According to Innovate Finance’s latest Fintech Investment Landscape, despite decreased investments in the sector in 2023, the UK maintains its global leadership, securing more capital than the rest of Europe combined.”
The Council has a focus on “improving policy, perception and liquidity for the Fintech sector by amplifying a unified industry voice on the key priorities of CEOs, investors and board members to scale their Fintech organizations.”
The Council will identify key prevailing issues “for UK companies to truly scale-up and grow, and will have direct interaction with senior Government ministers and officials to provide recommendations as to how policy interventions can best help these companies.”
In turn, it will help unlock and “drive greater direct foreign investment into the UK, enhancing our international competitiveness.”
Co-Chairs:
- Philip Belamant, CEO, Zilch
- Janine Hirt, CEO, Innovate Finance
- Charles McManus, CEO, Clearbank
The sample of members included are:
- TS Anil, CEO of Monzo
- Justin Basini, CEO of ClearScore
- Shachar Bialick, CEO of Curve
- Francesca Carlesi, UK CEO of Revolut
- Richard Davies, CEO of Allica Bank
- Iana Dimitrova, CEO of Openpayd
- Alasdair Haynes, CEO of Acquis Exchange
- Myles Stephenson, CEO of Modulr
- Rob Straathof, CEO of Liberis
- Louise Hill, CEO of GoHenry
- Jaidev Janardana, CEO of Zopa
- Antony Jenkins CBE, CEO of 10xBanking
- Rishi Khosla OBE, CEO of OakNorth Bank
- Vishal Marria, CEO of Quantexa
- Francesco Simoneschi, CEO of TrueLayer
- Paul Taylor, Thought Machine
The Council’s ExCo will be chaired “by Mike Carter, Senior Policy Advisor at Innovate Finance, and Ryan Mendy, Chief Communications Officer at Zilch.”
In addition, the Unicorn Council for UK Fintech “will at various points come together with the Startup Coalition’s Unicorn Project for Tech, also launched today, to create a first-of-its-kind umbrella forum for UK unicorns across all sectors and united voice for Britain’s foremost innovators at the highest levels of government and policy-making.”
Both Innovate Finance and the Startup Coalition “focus on delivering the best policy environment for Britain’s leading tech companies in their core constituencies – Fintech and non-Fintech respectively – and the organisations look forward to working together to get these companies the policy change they require to scale to even greater heights.”
Janine Hirt, CEO of Innovate Finance, said:
“In the last few years UK Fintech has shown resilience by maintaining its position as a global hub for investment, second in the world behind only the US, and maintaining the leading position in Europe. However, to maintain our leadership we need to accelerate our work with industry, government and regulators to ensure the necessary support for growth tech companies, including proactive regulation and increased investment. Today we are delighted to launch the Unicorn Council for UK Fintech to unlock the growth in the UK Fintech sector, support the innovators and industry change makers, and attract investment.”
Philip Belamant, CEO and Co-Founder of Zilch, said:
“As a proudly British-born company, we’re excited to co-found this dedicated council for UK unicorns. This is a chance to redefine how global investors see the distinct value of investing in the high growth, UK Fintech sector. We’re talking about changing policies and perceptions that flip the script on how founders think about scaling in the UK and beyond. I’m looking forward to this unique opportunity to work closely with the industry’s best companies and Innovate Finance, to craft the policy playbook that outlines what the government, regulators and the broader ecosystem need to address if our generation of Fintech businesses are to thrive on a global stage.”
The Unicorn Council will be “a subset of the Innovate Finance Fintech Strategy Group, and will work with established organisations including the the Capital Markets Industry Taskforce (CMIT).”