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London, UK – May 14, 2020 – Qadre, a high-growth fintech trusted by leading institutions to deliver certainty with blockchain technology, today announced a new research report in partnership with techUK that reveals a third of UK fintechs have lost vital funding due to equity management problems. The report ‘Making fintech work for fintechs’ is based on a survey of 59 UK fintech founders and exposes the impact of complex equity management processes on business growth as well as the impact of COVID-19 on fundraising.
The UK is one of the world’s most successful fintech markets, notching up $4.9 billion of capital raised in 2019 (Innovate Finance, 2020). This surpasses 2018’s figure of $3.6 billion as the UK moved up to second in the global rankings for VC investment into fintech. Yet despite the UK’s successful fintech scene, fintech founders are struggling with equity management which is limiting growth, holding back innovation, and draining operational resource. COVID-19 is presenting additional challenges to the industry, fintech founders are looking for ways to accelerate processes, reduce costs, and focus on growing their business.
The key takeaways from the report include:
“The UK has one of the world’s most successful fintech markets, but company founders are facing unprecedented economic headwinds with COVID-19 at the eye of the storm,” said Nick Williamson, CEO of Qadre. “At this time of uncertainty, equity management processes are preventing fintechs from raising money, delivering new services, and growing their business. Equity management isn’t just inconvenient, it is damaging UK fintech. It has never been more important for fintechs to streamline unnecessary tasks and focus on developing products and services that can help them ride out this storm.”
“At the heart of the fintech industry is the promise of innovation to create financial services that eliminate complexity, provide an intuitive user experience, and create value for consumers and businesses alike. This report highlights that there is space to replicate this in equity management,” said Julian David, CEO of techUK. “Fintech organisations must address the need to better support the startup community to improve efficiency and generate company growth. The dearth of solutions that address equity management is often overlooked. This study reveals the impact it can have on wider company success.”
This survey was conducted by FinTech Connect, an independent research partner. A total of 59 UK fintech founders were surveyed between the 25th March 2020 and 3rd April 2020.
Qadre is a high-growth fintech trusted by leading institutions to deliver certainty and modernise financial markets with blockchain technology.
The company’s modular platform, Huski, monitors, records, and reconciles any transfer of value and ownership with greater efficiency, reduced risk, and at lower cost than traditional methods. It offers a range of pioneering applications across equity management, market infrastructure, payments, and fund distribution designed to remove friction, improve security, and enhance the user experience for both the business and its customers.
The Qadre team is behind the earliest and most innovative blockchain projects to date in the fintech sector. Huski is the first blockchain technology to be approved by the UK government’s digital marketplace.
Qadre is a member of techUK and Innovate Finance.
For additional information on Qadre, please visit https://www.qad.re/
techUK is a membership organisation that brings together people, companies and organisations to realise the positive outcomes of what digital technology can achieve. We collaborate across business, government and stakeholders to fulfil the potential of technology to deliver a stronger society and more sustainable future. By providing expertise and insight, we support our members, partners and stakeholders as they prepare the UK for what comes next in a constantly changing world.