Fintech scaleups with female founders in the UK
achieved more than 30% more turnover growth. This is despite only 16% of such firms,
which are considered to be in a growth phase, having female founders. Additionally, the presence of multiple founders
positively impacted revenue growth rate, with more than half of fintech
companies surveyed in the UK having more than one founder.
These findings were highlighted in a new report titled
“Scaling UK Regional FinTech.” This report, jointly conducted by
Innovate Finance, Streets Consulting, and Whitecap Consulting, highlighted the
growth trajectories of 250 UK-based fintech scaleups outside London.
The report uncovered a significant relationship
between gender diversity in leadership and financial performance. Besides that,
the study showcased the importance of fundraising for fintech companies.
Notably, 9 out of 10 firms that participated in accelerator programs
successfully raised funds.
“The data on diversity from this report is
bitter-sweet. Once again we see the benefits of diversity and inclusion, since
fintech firms founded by women significantly outperform those founded by men;
but once again we see the size of the challenge, as fewer than a fifth of
fintech firms are founded by women,” Julia Streets, the CEO of Streets
Consulting, mentioned.
Additionally, the report delved into the market
strategies of fintech scaleups, revealing that 87% incorporate a B2B element in their
go-to-market approach. However, B2C firms that secured funding reported double
the revenue and employee growth compared to B2B-exclusive firms. Notably,
sectors like payments, wealth tech, and prop tech distinguished themselves for their growth and success in fundraising.
Source: Whitecap Consulting, Streets Consulting, and Innovate Finance
Navigating the Fintech Landscape
Based on the analysis, the report offered actionable
recommendations for entrepreneurs, investors, policymakers, and the wider fintech sector. The suggestions include fostering diversity in leadership,
encouraging participation in accelerators, and adopting a national perspective
to support the growth of the fintech sector beyond London.
Julian Wells, the Director and Fintech Lead at
Whitecap Consulting added: “What is not a surprise to us is to see so
many regional fintech innovators succeeding outside of London. There is an
extremely vibrant ecosystem of fintech innovators across all four corners of
our nation. These are exactly the kinds of data and insights
which can help shape the UK’s effort to maintain its position as a true leader
in global fintech.”
Meanwhile, the world of finance is undergoing a transformation with the rise of female investors, according to a recent report by Finance Magnates. Breaking barriers and challenging stereotypes, women are making significant strides in the investment realm, as revealed by data from XTB on International Women’s Day. The proportion of female investors is rising, with countries like Romania and the region of the Middle East leading the charge with a representation of more than 20%.
Fintech scaleups with female founders in the UK
achieved more than 30% more turnover growth. This is despite only 16% of such firms,
which are considered to be in a growth phase, having female founders. Additionally, the presence of multiple founders
positively impacted revenue growth rate, with more than half of fintech
companies surveyed in the UK having more than one founder.
These findings were highlighted in a new report titled
“Scaling UK Regional FinTech.” This report, jointly conducted by
Innovate Finance, Streets Consulting, and Whitecap Consulting, highlighted the
growth trajectories of 250 UK-based fintech scaleups outside London.
The report uncovered a significant relationship
between gender diversity in leadership and financial performance. Besides that,
the study showcased the importance of fundraising for fintech companies.
Notably, 9 out of 10 firms that participated in accelerator programs
successfully raised funds.
“The data on diversity from this report is
bitter-sweet. Once again we see the benefits of diversity and inclusion, since
fintech firms founded by women significantly outperform those founded by men;
but once again we see the size of the challenge, as fewer than a fifth of
fintech firms are founded by women,” Julia Streets, the CEO of Streets
Consulting, mentioned.
Additionally, the report delved into the market
strategies of fintech scaleups, revealing that 87% incorporate a B2B element in their
go-to-market approach. However, B2C firms that secured funding reported double
the revenue and employee growth compared to B2B-exclusive firms. Notably,
sectors like payments, wealth tech, and prop tech distinguished themselves for their growth and success in fundraising.
Source: Whitecap Consulting, Streets Consulting, and Innovate Finance
Navigating the Fintech Landscape
Based on the analysis, the report offered actionable
recommendations for entrepreneurs, investors, policymakers, and the wider fintech sector. The suggestions include fostering diversity in leadership,
encouraging participation in accelerators, and adopting a national perspective
to support the growth of the fintech sector beyond London.
Julian Wells, the Director and Fintech Lead at
Whitecap Consulting added: “What is not a surprise to us is to see so
many regional fintech innovators succeeding outside of London. There is an
extremely vibrant ecosystem of fintech innovators across all four corners of
our nation. These are exactly the kinds of data and insights
which can help shape the UK’s effort to maintain its position as a true leader
in global fintech.”
Meanwhile, the world of finance is undergoing a transformation with the rise of female investors, according to a recent report by Finance Magnates. Breaking barriers and challenging stereotypes, women are making significant strides in the investment realm, as revealed by data from XTB on International Women’s Day. The proportion of female investors is rising, with countries like Romania and the region of the Middle East leading the charge with a representation of more than 20%.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://www.financemagnates.com//fintech/uk-fintechs-and-gender-diversity-firms-founded-by-women-report-30-higher-revenue-growth/
