Innovate Finance, an independent industry body for the UK’s fintech sector, has launched the Unicorn Council for UK FinTech (UCFT) to drive investment in the country’s fintech sector.
This new coalition, composed of UK-based fintech unicorn founders, will aim to sustain and enhance the country’s global position in the fintech space by providing the government with key policy recommendations.
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According to Innovate Finance, despite a dip in investments last year, the UK continues to lead in the fintech sector, outpacing the rest of Europe in capital secured.
The UCFT will focus on policy improvement, industry perception, and liquidity to amplify the unified voice of CEOs, investors, and board members in scaling their fintech organisations.
Its mandate is to pinpoint and address the critical issues that UK companies face in scaling up and growing.
The coalition will also engage directly with senior government ministers and officials to suggest how policy interventions can best support these companies.
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By GlobalDataInnovate Finance CEO Janine Hirt will be the co-chair of the UCFT, with a steering committee that includes Zilch CEO Philip Belamant and Clearbank CEO Charles McManus.
The council brings together the CEOs of fintech companies such as Monzo, Curve, ClearScore, OakNorth Bank and several others.
In addition, the UCFT will collaborate with the Startup Coalition’s Unicorn Project for Tech to form a comprehensive forum for UK unicorns across various sectors.
Hirt 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.”
