Finbridge Global secures £500,000

An investment for faster and more effective partnerships between fintechs and financial institutions

London, England, January 17, 2024: Industrial Thought Ltd, a group of companies focused on accelerating the future of wealth management, has announced an investment of £500,000 in collaboration platform Finbridge Global. Of this, £150,000 is in cash and £350,000 is in the form of strategic support.

According to Deloitte statistics from 2023, there are around 30,000 fintech startups worldwide with a global market value of around £252 billion. The UK fintech market is estimated to be worth £15.9 billion. Despite these significant opportunities for startups, investors and financial institutions (FIs), finding and comparing fintechs based on their capabilities is challenging, which limits the number of potential collaborations.

This is where Finbridge Global comes in. The platform is unique with an intelligent scoring system that can define a fintech's suitability for FIs to enable powerful partnerships. The platform provides easy access to a variety of fintech solutions in one place and speeds up the request for information (RFI) process through an in-depth assessment. Strengths and weaknesses are identified and fintechs are given clear ways to improve their weaknesses.

Financial institutions are realizing that they can reap significant benefits from technology innovators in areas such as operational efficiency and better consumer impact.

Barbara Gottardi, CEO and founder of Finbridge Global

Barbara Gottardi, CEO and Founder of Finbridge Global, said: "Financial institutions are recognizing that they can reap significant benefits from technology innovators in areas such as operational efficiency and better consumer outcomes. However, while most of these organizations are willing to work with fintechs, they struggle to get the information they need to trust them. Our goal is to simplify the process, promote transparency and ultimately enable progress."

The investment from Industrial Thought will allow Finbridge Global to consolidate its position, build strategic partnerships and promote the platform initially in the UK before expanding its global reach in 2024.

Finbridge Global's commitment to collaboration reflects our strong belief in the power of partnerships to accelerate the future of financial services.

Nuno Godinho, Group CEO of Industrial Thought Ltd.

Finbridge Global co-hosts a monthly Innovation Committee with The Investing and Saving Alliance (TISA) to ensure their platform is best aligned with the needs of the sector. The Innovation Committee brings together a diverse range of financial institutions to discuss the changing nature of fintech engagement.

John Thompson, Innovation Committee member and from global investment firm ABRDN, said: "We are delighted to be working with Finbridge Global to tackle some of the biggest technology innovation challenges in the industry. To succeed in an API-led world, FIs need to adopt increasingly efficient methods for identifying and assessing the potential and interoperability of new technologies. An effective matchmaking platform will accelerate these assessments and make a big difference to further innovation."