The fintech industry has been a driving force in the evolution of the financial sector, and the UK, with its thriving fintech ecosystem, has played a significant role in this revolution. As the industry continues to grow and adapt to new challenges, initiatives like the Fintech Growth Fund are emerging to support the next generation of fintech innovators.
Matt Hyde, managing director of Fintech Awards London and director of fintech recruitment provider Recruit 121, recently chatted to Steven Fine, CEO of investment bank Peel Hunt, one of the sponsors of the Fintech Awards London.
In their discussion, they explored the implications of the Fintech Growth Fund and the broader future of fintech in the UK.
The conversation kicked off with an overview of the Fintech Growth Fund, a government-sponsored initiative designed to address a critical issue within the UK fintech space. Rishi Sunak commissioned a review led by Sir Ron Kalifa, which revealed a substantial funding gap for early-stage fintech companies.
This gap amounted to a staggering £2billion, highlighting the need for a solution to provide these promising companies with the financial support required to achieve their ambitions and foster growth within the UK.
Fine expressed his pride and enthusiasm for Peel Hunt’s involvement in this essential initiative. The Fintech Growth Fund aims to ensure that innovative companies with roots in the UK stay within the country, preserving the intellectual property, creativity, and innovation that were nurtured there.
“We are honoured and proud to be associated with this wonderful initiative and hope it will only go from strength to strength. There’s a terrific group of individuals that have got strong backgrounds coming together as a great team to help take this initiative forward.”
Fine also emphasised the importance of focusing on the positive aspects of the UK’s fintech industry. He encouraged celebrating success, innovation, achievement, and growth, and expressed a desire for the industry to channel its energy into supporting and nurturing these qualities.
During the conversation, Fine also highlighted the significance of being good listeners and understanding people, key traits that can help guide individuals and organisations toward successful outcomes.
“There is a huge amount of investment still going on in this country, a huge amount of opportunities still in this country, it’s still a hot bed of creativity and still a hot bed of innovation and ambition and that’s what we got to feel and that’s what we have got to channel our energies into.”