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On 24 January, OVHcloud and the Alchemy Crew hosted a startup-investor event where ten FinTech and InsurTech startups presented their ideas to investors, corporate delegates, and other interested parties. The event was called #Pitch410, with the goal of offering an opportunity for the most promising young ventures. Attendees heard industry stories, founders’ journeys, and each startup’s immediate needs that could be met by venture capitalists and corporations.
Our focus this time was around FinTech and InsurTech. London is considered to be one of the leading hubs for FinTech and InsurTech after the United States, with 28 percent of all global FinTech startups located in London. An estimated 7% have received funding. London is recognised for having one of the strong financial services sectors in the world and the reason why FinTechs and InsurTechs are doing well. It is home to many established financial services institutions and FinTech startups. The city is well known for its supportive regulatory environment with its EIS and SEIS schemes to accelerate startup investment, and thriving tech ecosystem, making it an attractive location for innovation in financial services.
As technology continues to advance, FinTech and InsurTech organizations are relying on cloud solutions like OVHcloud for scalability and optimized performance. With OVHcloud, businesses can access high-availability computing, hybrid cloud infrastructure, secure virtualization, and more – all designed to optimize costs and maximize operational efficiency. By taking advantage of these services, businesses can enjoy a wide range of benefits, from improved user experience to enhanced data security.
During the scouting process, our team at Alchemy Crew reviewed 270 FinTech and InsurTech startups. We discovered through our sourcing process that they were over 23.2K FinTech startups across the globe that have already received over USD $685 billion in funding, whilst, in the UK, 1.4k startups received $70 billion in funding over the past 10 years.
“As, the second FinTech startup location in the world, London is such a welcoming city for FinTech startup innovation. Despite a little bit of an investment dip in 2022, it is always thrilling to identify unknown gems which we hope become respected market players in their own right in the future.”
Sabine VanderLinden, CEO and Managing Partner, Alchemy Crew
These companies are taking the world to the next level by shaping the future of finance and insurance. Our collaboration with OVHcloud enables those early-stage ventures to gain access to new cloud-based capabilities to build, grow and scale their businesses, including being more “open, sustainable, and free in the cloud” so that they can have peace of mind knowing they have effective measures in place to protect their valuable data assets when scaling their business.
Since 2015, the OVHcloud ecosystem has welcomed more than 3,000 startups and scaleups from around the world. Yepic.ai and Paper.li are two examples of popular and growing startups. Startups joining the OVHcloud Startup Program get access to credits, co-marketing possibilities, and support starting on day one.
“The Fintech and Insurtech sectors are experiencing rapid growth, and it’s fascinating to see so many startups enter the market with innovative solutions to age-old problems. As a cloud provider, we recognize the importance of these industries and are dedicated to providing the infrastructure necessary for these startups to thrive. By offering scalable, secure, and cost-effective cloud solutions, we’re helping to drive the growth of these sectors and empower the next generation of Fintech and Insurtech pioneers.”
Filippo Sanesi, Startup Program Manager, OVHcloud
As we scout the world for startups, we have at Alchemy Crew scouting over the past few years over 50K startups to meet the needs of our partners’ demand-led programs.
Cloud technology enables fintech companies to offer financial services to customers faster and more efficiently while reducing the cost of IT infrastructure. For Fintech and Insurtech companies, cloud technology provides a platform for advanced data analytics and machine learning. They can help traders and underwriters make more informed decisions about pricing, action, coverage, and risk assessment. Artificial intelligence and advanced analytics can help improve the overall customer experience, which is crucial today to meet the needs of customers of any age while providing a seamless and real-time experience for them when applying for loans, buying insurance, or processing claims.
Before reviewing the details of the startups that joined us on 24 January, we would like to remind you to stay tuned for future events by checking our LinkedIn page.
Year founded: 2021
Country: London (United Kingdom)
Funding stage: Seed
Breez Insurance is an app-based car insurance platform for individuals. It enables users to make car insurance more affordable, reduce road accidents, reduce exhaust emissions, and more. Breez brings the latest twist on telematics to the market with its app-based motor insurance linked to a driver’s smartwatch. Their mobile and smartwatch applications have a variety of built-in features and benefits which aim to help customers get the most out of their car insurance. For example, a reward scheme according to driving behavior, accident alerts, 24/7 customer service, and location sharing with family members. The app is now available on both iOS and Android platforms.
Year founded: 2021
Country: London (United Kingdom)
Funding stage: Seed
SuperFi is an online platform offering debt consolidation loans to consumers. It allows users to track and manage their debt in one place and receive personalized debt advice to understand the best way to become debt free. It offers debt repayment advice to its users and credit amount with lower interest rates enabling the users to repay all existing debts systematically by starting with the debt that costs the most in interest. It also allows automated payments of existing debts and repayment in installments. The app is now available on both iOS and Android platforms.
Year founded: 2015
Country: London (United Kingdom)
Funding stage: Seed
Spinview aims to unlock the value of data with visual intelligence for the built environment. Spinview brings businesses the power of visual intelligence using our AI-driven platform. With the latest in digital twin technology, they capture and transform all the data about space into meaningful, actionable, measurable information. The fees are based on a subscription to their platform plus a data processing fee based on types of data capture, the volume of data, and the frequency of updates. They are a top 30 metaverse company and awarded no.11 in Proptech Global Companies.
Year founded: 2020
Country: Belfast (United Kingdom)
Funding stage: Seed
RegTick is a visually intuitive SaaS platform that structures and simplifies the management of regulations. They have the vision of continually harnessing the full potential of compliance innovation to enable a new era of development, growth, and productivity. RegTick builds a technical bridge across organizational silos, by creating a highly visual, intuitive, and immersive view of all the tasks required to comply with each piece of regulatory change across the entire organization. It helps to reduce cost, improve control and collaboration, and critically evidence compliance with regulations. They create a simpler, clear path to compliance.
Year founded: 2018
Country: London (United Kingdom)
Funding stage: Seed
Crymbo is a cloud & crypto-based assets network for financial institutions. They aim to transform how organizations adopt and scale digital assets by providing a tech intermediary layer that enables smooth and flexible deployment and management of leading digital asset solutions and services, regardless of provider or protocol. It offers a network that allows financial institutions to have direct access to a diverse range of digital assets and decentralized financial products on a single platform with no counterparty risk. It also offers KYC & AML authentication solutions. It allows easy onboarding and integration options.
Year founded: 2022
Country: London (United Kingdom)
Funding stage: Seed
Diesta is a payment software for the flow of funds in the insurance industry. They have the vision of enabling brokers, agents, and carriers to do their expertise and thus increase their benefit to society. Diesta offers an easy-to-integrate platform that automates the reconciliation and distribution of insurance payments, enabling users from the insurance industry to maintain full transparency, lower their administrative costs, make quicker payments, and thus increase their revenue.
Year founded: 2022
Country: London (United Kingdom)
Funding stage: pre-seed
FXGuard is a new-age digital foreign exchange (FX) risk manager for small, medium, and large businesses. They believe that customers should have access to simple, intuitive, and cost-effective insight and tools to enable them to manage their FX exposure themselves. FXGuard enables businesses to transform their foreign exchange risk management by offering simple, accessible, and user-friendly risk management tools, analytics, and information that add value.
Year founded: 2022
Country: London (United Kingdom)
Funding stage: Seed
Uome is an integrated workflow tool for managing freelancers’ most precious assets and customers, and ensuring that the service they provide is delivered in the most transparent & efficient manner, enabling them to get paid faster. The platform features include full invoicing, quotes, instant messaging, opening banking, accepting various card payments and aPOS, etc. They offer three payment options, which are freemium, pay-as-you-go, and subscription. The app is now available on both iOS and Android platforms.
Year founded: 2016
Country: Paris (France)
Funding stage: Series C
Kayrros is a leading advanced energy and environmental geo-analytics company that helps traders, investors, operators, and governments make better decisions. They are on a mission to give energy and industrial actors the data tools they need to optimize operations, tackle the climate challenge, navigate the energy transition, and stay on top of fast-changing markets. Kayrros extracts value from the integration of alternative and market data into unique solutions and customer-specific product offerings while measuring environmental impact and delivering insight into climate and energy-transition risk.
Year founded: 2021
Country: London (United Kingdom)
Funding stage: Seed
KYP is a third-party risk management platform. It offers its solution mainly to the open-banking sector through an integrated platform to provide risk insights by continuous monitoring and data linking from multiple data points. It provides alerts and responses on cyber risk detection, KYC checks, dark web compromise or breaches early warning systems, adverse media, company credit scores, insolvency checks, merchant monitoring, invoice scoring, and security.
As of 2022, the top funded business model among FinTech is online payments with $7 billion, followed by diversified payment with $6.82 billion and consumer payment wallets with $6.37 billion. While the top funded business model among InsurTech is diversified internet-first insurers with $2.77 billion, followed by health internet-first insurers with $2.11 billion, and diversified property and casualty internet-first insurers with $1.97 billion.
Fintech and Insurtech are transforming the financial and insurance industries by introducing innovative technologies and streamlining traditional processes. With the use of artificial intelligence, machine learning, and blockchain, fintech companies are providing faster and more convenient services, such as digital banking, mobile payment solutions, and investment management. On the other hand, Insurtech firms are revolutionizing the insurance sector by offering personalized and data-driven insurance products and services, reducing manual processes, and improving the overall customer experience. These advancements are not only making financial services more accessible, but they are also increasing efficiency and security. As a result, fintech and Insurtech are taking the world to the next level by shaping the future of finance and insurance.
FinTech and InsurTech are improving our lives by offering more convenient, efficient, and accessible financial and insurance services. Let’s discover the potential of how technologies change our lives!
Here is the upcoming event and the estimated date.
| Provisional and confirmed dates | Event theme |
| 23 March 2023 (confirmed) | From AI to Generative-AI, how startups are transforming the world of business |