The number of Scottish Fintech SMEs has increased by more than 50 percent since the onset of the coronavirus pandemic last year, according to new figures.
Statistics published by FinTech Scotland show there are now 181 fintech SMEs operating in Scotland, marking an increase from 119 in March 2020.
FinTech Scotland says the growth reflects an increase in demand for financial technologies as the economy and society adapts to a digital environment driven by the challenges of the pandemic.
News of the growth comes as FinTech Scotland launches an SME Advisory Board made up of leaders from the fintech entrepreneurial community. The new advisory board will work to ensure the necessary support is in place to continue the momentum of fintech innovation across the country.
Initially, the advisory board will focus heavily on bolstering skills development, access to funding and commercialisation opportunities.
Supporting Scottish Fintech SMEs
Nicola Anderson CEO of FinTech Scotland said: “We are focused on supporting fintech innovation in Scotland and the number of fintech SME’s establishing themselves here is a testament to the talent and experience across the Cluster.
“This Board helps us build on that talent and expend the practical fintech expertise that continues to build and evolve in Scotland.”
The Advisory Board includes a diverse range of founders and leaders, including:
- Jude Cook (ShareIn)
- James Varga (DirectID)
- Loral Quinn (Sustainably)
- Anthony Rafferty (Origo)
- Pardeep Cassells (AccessFintech)
- Andrew Duncan (Soar)
- Andrew Veitch (EedenBull)
- Stuart Lunn (LendingCrowd)
- Russell Jaques (Fin-Q).
Jude Cook Co-Founder of ShareIn added: “It’s great to see more entrepreneurs joining the FinTech Scotland community.
“Scotland is such an interesting place to be in the run up to COP26 climate negotiations here in Glasgow in November. Fintech has a vital role to play as we emerge from the Covid-19 pandemic.”
Stephen Ingledew, Executive Chairman at FinTech Scotland, added: “There is growing recognition of the valuable role fintech in contributing to the digital economy, therefore, formally bringing together a prominent group of entrepreneurs signifies Fintech Scotland ongoing commitment to ensure the best support is available for innovative enterprises in Scotland.”
Join the conversation | Fintech Summit 2021
Now in its eighth year, the Fintech Summit is the largest annual gathering of technology leaders in Scottish fintech.
Following one of the most turbulent periods in modern history, the 2021 Summit will consider how financial innovation can help the socio-economic recovery and will feature talks from a range of industry leaders.
For more details and information on how to register for the 2021 Fintech Summit, please visit: www.fintech-summit.co.uk