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Seven Rising Fintechs Sure to Make the New Year’s Honours List

Seven companies have impressed Flavia Alzetta, CEO of Contis over the last 12 months. Each OTW was selected due to its positioning and performance in one of four categories: Profit, Innovation, News and Awards.

  1. AzimoCEO, Michael Kent. Azimo is a fully-integrated money transfer platform. It allows migrants working in the UK to transfer money back to family members in different countries at the touch of a button. They charge minimal fees for the process. The platform allows the money to be sent to mobiles, banks or 300,000 cash pick-up locations. The platform now has over one million users. The user sending the money is able to follow the transaction through all of its various stages, with notification updates informing members of where their money is. Their significant lack of overheads in comparison to established banks means they can offer better currency conversion rates.

  2.  Advanon (CEO, Stijn Pieper.) Advanon are a Swiss company that provides an online platform for invoice-financing SME’s. Since their founding in 2014 (by three students who met at Google) they have grown tremendous amounts.

    They now provide for a variety of services such as Battere AG (A company that rents mobile recharging batteries out of retail outlets), Exurbe Cosmetics (An ethically-facing cosmetics company that specialises in producing high-quality vegan cosmetic products). Their service enables companies to get their invoices approved and paid within 48 hours of submitting the request, rather than a 4-8 week turnaround in a standard bank. This allows their clients to be able to better manage their cash flows and concentrate on their core business. The business has recently announced its latest hire, former Head of Strategic Partnerships at EY, Andrea Punchera has been appointed as CYO.
  3. OnfidoCEO, Hussayn Kassai. Onfido combines business needs for total candidate transparency with fresh innovative methods. Started by three Oxford graduates in 2012, Onfido provides a fully-secure background check using Artificial Intelligence. There app can scan an official document and decide whether the document has been tampered with in any way (forged, stolen etc.). The app then immediately informs the business, allowing a quick turnaround of information. This has dramatically reduced the time spent on onboarding, leading to companies such as Google, Morgan McKinley, Revolut and Tesco using the app as part of their onboarding process. This service has been so effective that Onfido recently raised $30 million in capital from investors.
  4. WeFox (otherwise known as FinanceFox) – CEO, Fabian Wesemann. WeFox are a next-generation insurance app that are built entirely on the SalesForce platform. They combine cutting-edge technology with traditional insurance business methods in a bid to better connect insurance companies with their clients. The German-based firm inform customers and businesses alike of their rates in less than 5 minutes, using innovative algorithms to analyse your chances of being insured from the details you submit.
  5. FinimizeCEO, Maximilian Rofagha. Finimize is a London-based startup that strives to provide the millennial with an affordable alternative to a financial advisor.

    The app is a fully-secured savings plan. The AI configures your min-max savings amount per month based on the details you provide e.g. Salary, position, bills, children etc. Based on a number of factors, the app will then tell you via a chat forum whether there are stock movements that should warrant investment. They have been subject to massive growth, transforming from a newsletter that was previously read by 100 users, to a fully-integrated savings and advice app that is used by over 250,000 people, in just under two years.
  6. Yielders.co.ukCEO, Abdul Haseeb Basit. Yielders.co.uk is the UK’s first fully Shariah-certified Fintech company. They specialise in property crowdfunding investment and have taken the idea a step further, by eliminating the vetting and search for applicable opportunities. The ethical advantage of Yielders.co.uk is that they take no interest from crowdfunded investment and pride themselves on being fully-transparent.
  7. TrueLayerCEO, Francesco Simoneschi. TrueLayer is a startup that builds API interfaces that allow other fintech startups to access banking information, providing they have permission. As Open Banking has come into force in the UK, TrueLayer has built the ‘Data’ API that allows startups easy access to the API without the complication of building their own integration system. TrueLayer then provides this service for a fee. TrueLayer are also in the process of building a ‘Payments’ API that promises to ‘allow users to transfer funds to different places without the use of a card or direct debit’. TrueLayer assure users that this software is fully compliant in the post-GDPR world.

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