Scottish FinTech Powers UK’s First Bank-Backed Crowdfunding Platform
Edinburgh-based ShareIn tripled revenues across 2017, hitting profitability and growing staff numbers.
Triodos, which has established a strong reputation in the ethical finance sector, is now using ShareIn’s platform to offer eligible investors the opportunity to invest in both equity and bonds issued by established charities and businesses delivering positive social and environmental impacts.
The deal, which was completed in February 2018 is the culmination of 12 months of strong growth for ShareIn. The company reported year-end revenue of approximately of £700,000 to October 2017, which is triple that of the previous financial year.
The revenue growth has enabled the company to achieve profitability, which ShareIn is using to expand its team from seven staff members to 17.
ShareIn’s clients list has likewise experienced growth, with the number of clients tripling in the past year. ShareIn are carving out a niche in impact crowdfunding, also working with Lendahand Ethex who have raised over £2 million for solar projects in Africa, and Mongoose Crowd which funds renewable community energy projects.
Jude Cook, the CEO of ShareIn, says: “Andrew and I are really proud of the brilliant team that we’ve been able to build. It’s quite unusual in a tech business to have more women in the company than men. We always hire the best person for the job but we’re lucky that great women keep applying. 12 of the 17 team members are women. We’ve got such a healthy mix of experience and nationality that makes ShareIn a very exciting place to work.”
Andrew Pickett, Co-founder of ShareIn says “Working with Triodos, who are very well respected in the ethical finance sector and have raised more than £130 million to fund over 50 impact projects in the past 15 years, is a fantastic win for ShareIn.”
Mickael Paris, the Marketing Director of Fintech Scotland, told DIGIT: “It is fantastic to hear such great news from one of our Scottish fintechs.
“They are showing that innovation through collaboration, supported by diversity is the recipe to success. We share and promote those values. We’re also delighted to see the positive impact that fintechs are having on employment and economic growth showing that the fintech sector is key to Scotland’s future.”