Theo Paphitis Impressed by Scottish fintech GiftRound.
Scottish fintech GiftRound, has just received a significant boost from famous entrepreneur and small business champion, Theo Paphitis. This endorsement comes as part of Theo’s Small Business Sunday (#SBS) initiative, a programme dedicated to spotlighting UK-based small businesses.
Craig Forsythe, founder and CEO of GiftRound, participated in Theo Paphitis’ LinkedIn initiative and became one of six weekly winners chosen to win a repost to Theo’s extensive social media audience of over half a million followers. The results were instantaneous: the GiftRound website, www.giftround.co.uk, and brand reached a vast new audience..
GiftRound is now featured on the exclusive #SBS website, a community of more than 4,000 small businesses, providing access to invaluable networking opportunities, events, and resources.
GiftRound is a passionate team of five innovative people revolutionising the group gifting experience, creating a fair, transparent, and joyful platform for all. As a member of the Gift Card and Voucher Association (GCVA), GiftRound continues to innovate by offering sustainable, user-friendly group collection tools that address modern financial needs.
Craig Forsythe commented on the achievement:
“As a small, passionate team, being recognised by Theo Paphitis means the world to us. It reaffirms the magic we’ve always believed in GiftRound and provides an incredible opportunity to connect with like-minded entrepreneurs.”
Theo Paphitis, chairman of Ryman Stationery, Robert Dyas, and Boux Avenue, is a staunch advocate for UK small businesses. His #SBS initiative, launched in 2010, continues to highlight the importance of nurturing innovation and fostering a supportive community. Paphitis remarked:
“Supporting small businesses is vital to the UK economy. GiftRound’s creativity and dedication are a fantastic addition to our #SBS family.”
Small business owners looking to follow in GiftRound’s footsteps can participate in #SBS by engaging with Theo Paphitis on Twitter, LinkedIn, or Instagram every Sunday between 5 PM and 7:30 PM. Winners gain exposure, networking opportunities, and a platform to showcase their innovation to a broader audience.
New US Boost for Scottish Tech Companies
Five innovative Scottish firms will showcase their solutions in the Silicon Valley in the US.
The Scottish Enterprise’s US MarketBooster Programme, is a pilot project with the objective to double the number of scaling companies in Scotland within the next decade, it is an example of a new missions-based approach to economic transformation. Over a 16-week programme, these companies will receive immersive support designed to accelerate their market readiness and sharpen their competitive edge in the United States.
The programme is split into two phases. The first, an eight-week discovery period, is taking place in Scotland. Here, the founders collaborate with experts to refine their strategies and align their offerings with the competitive US market. The second phase will see them travel to the Silicon Valley, where they will be immersed in its rich entrepreneurial ecosystem, surrounded by global entrepreneurs, investors, and innovators.
The companies involved in this initiative include Aveni, Cloudsoft, Lasting Asset, Lupovis, and Talking Medicines. These firms innovate in diverse fields such as fintech, artificial intelligence, cloud computing, cybersecurity, and healthcare data analytics.
The United States remains Scotland’s largest export market, and for good reason. With Silicon Valley’s unparalleled network of investors, partners, and talent, the opportunities are considerable. This programme aims to take away 6–12 months off the typical time it takes for companies to gain a foothold in the US market. It’s a vital head start in a highly competitive environment.
Reuben Aitken, Managing Director of International at Scottish Enterprise, emphasises the strategic importance of this initiative: “To scale up, Scottish businesses need to think globally. The US MarketBooster Programme is a direct response to this need. By combining support here in Scotland with deep immersion in the Silicon Valley ecosystem, we’re setting these companies up for success.”
The pilot programme is now underway, with the group set to travel to Silicon Valley in March. By the end of April, the participating companies will have completed a transformative experience, equipped with the knowledge, networks, and strategies to scale new heights.
Scotcoin Targeting a $250M Market Debut
Scottish fintech Scotcoin will be listing on a tier 1 cryptocurrency exchange this February valuing the project at $250 million (£200 million), signifying a a very important milestone for The Scotcoin Project (TSP) Community Interest Company.
A Strategic Market Entry
Scotcoin will be paired with Tether (USDT), the world’s leading dollar-backed stablecoin, ensuring liquidity and accessibility for traders. The exchange, averaging a daily trading volume of $3 billion and ranked among the global top 20, highlights the strategic ambition behind this launch. While the specific platform remains under wraps, its identity will be revealed closer to the listing date, pending market conditions.
A Purpose-Driven Ecosystem
Unlike many cryptocurrencies focused mostly on speculative gains, Scotcoin has a clear mission: leveraging blockchain for societal good. Since its inception, the token has been actively used to address pressing social issues, including providing food, clothing, and shelter through partnerships with charities and third-sector organisations. Currently held by 6,000 individuals globally, Scotcoin is steadily gaining traction as a payment method across diverse sectors.
The funds raised through the listing will propel the project’s vision further. Temple Melville, CEO of Scotcoin, shared his enthusiasm:
“Our objective is to use the medium of crypto to help create a more equitable world. This listing will enable us to establish a dedicated team to engage preferred partners and expand the ecosystem. These partnerships will focus on basic necessities—food, clothing, and shelter—offering value to those in need rather than relying solely on donations.”
Empowering Community and Business
Scotcoin’s integration into the broader economy has already demonstrated its potential. Charities and organisations accepting Scotcoin as payment stand to benefit not only from operational efficiencies but also from the direct value of token transactions. This novel approach removes the need for free handouts and replaces them with a sustainable exchange of goods and services.
Additionally, the project will enhance its ecosystem by recruiting a full-time management team and onboarding more partner organisations. This structured expansion is expected to catalyse adoption, making Scotcoin a viable alternative payment solution.
A Visionary Future
Scotland has long been a hub of innovation, and Scotcoin’s ambitious trajectory aligns with the nation’s fintech aspirations. As highlighted in the FinTech Scotland Roadmap, digital assets and blockchain technology play a pivotal role in shaping an inclusive, sustainable financial future. Scotcoin’s commitment to addressing financial inequality and fostering an ecosystem for social impact positions it as a game-changer in the crypto space.
Zumo’s Amelie Arras Joins MENA Fintech Association’s Sustainable Fintech Alliance as Co-Chair
The MENA Fintech Association (MFTA) has announced the appointment of Amelie Arras, representing Scottish fintech Zumo, as the new Co-Chair of its Sustainable Fintech Alliance. Teaming up with sustainability advocate Gihan Hyde, this powerful partnership aims to drive initiatives that advance sustainability in the fintech and digital asset sectors across the MENA region and beyond.
Championing Sustainability Through Collaboration
Amelie Arras is passionate about sustainable growth through technology and collaboration and brings a wealth of expertise to her new role. She expressed her excitement for the opportunity to drive meaningful change, stating:
“I am honoured to join as co-chair of the MENA Fintech Association Sustainability Alliance, to champion the incredible potential of the fintech and digital asset sectors in creating sustainable opportunities for both people and the planet. The journey toward meaningful impact requires strong collaboration across everyone in our industries, and that is precisely what the Sustainability Alliance aims to foster. By encouraging education, upskilling, and the exploration of innovative technologies, our goal is not only mobilising the sector but also empowering the UAE to lead by example on global sustainability. Together, we can drive change that resonates far beyond our industry.”
Aligning with the UAE’s Sustainability Goals
The appointment comes at a time when the UAE is solidifying its role as a global leader in sustainability and innovation. As the nation continues to set benchmarks for environmental leadership, the Sustainable Fintech Alliance will amplify this momentum by harnessing the transformative power of fintech and digital assets.
From advancing green finance solutions to exploring blockchain applications that promote transparency in carbon offsetting, the Alliance under Amelie Arras and Gihan Hyde’s leadership will serve as a beacon for sustainable progress in the region.
Hope4u: Empowering People Through Financial Innovation
Throughout their lives, people will more often than not face financial challenges at some point. Recognising this, Hope4u, a fintech part of the FinTech Scotland community, is transforming how families navigate these hurdles with its innovative digital solutions.
What is Hope4u?
Hope4u is a fintech platform designed to provide tailored financial support for people in difficult financial situations. By leveraging advanced data analytics and user-centric design, Hope4u enables individuals and families to access grants, manage their budgets, and find relevant support services—all in one easy-to-use app.
How Hope4u Works
The platform connects users with financial assistance programs and resources in their region, helping them make informed choices about their finances.
• Personalised Financial Assistance Finder: Using intelligent algorithms, Hope4u matches families with benefits, grants, and services that align with their specific needs and eligibility criteria.
• Budgeting Tools: people can set financial goals, track expenses, and receive tips on managing household budgets effectively.
• Access to Community Resources: Hope4u links users with local support networks, childcare providers, and education resources, creating a holistic support system.
Making a Broader Impact
By addressing challenges like financial inclusion and resource accessibility, Hope4u is helping individuals across the UK thrive in uncertain times.
For example, Hope4u enables users to discover and apply for financial aid programs similar to Scotland’s Scottish Child Payment or Best Start Grant, demonstrating its adaptability to regional contexts. The platform’s flexibility ensures it can support families regardless of their location, making it an invaluable tool for those navigating complex financial landscapes.
Amiqus Strengthens Leadership in AML Expertise
Scottish fintech Amiqus has just appointed Graham MacKenzie, an expert in Anti- Money Laundering (AML), as its Director of AML & Financial Crime Risk. Graham brings with him over a decade of hands-on experience in AML and financial crime regulation. His career includes roles as Chair of the UK AML Supervisors Forum, member of the Legal Sector Affinity Group (LSAG), and Head of AML at the Law Society of Scotland.
Enhancing AML Capabilities in a Rapidly Changing Sector
With an increase in regulatory demands and the increasing need for firms to proactively manage AML risks, Amiqus is doubling down on its investment in AML solutions. Graham’s appointment is more than a leadership shift, it marks the next phase in Amiqus’ strategy to scale its AML platform for high-volume financial services and wealth management clients.
As part of this evolution, Amiqus is launching a new AML consulting service. This capability will enhance its existing offerings by providing clients with bespoke content, premium support, and access to regulatory guidance, independent audits, and horizon scanning for upcoming regulatory changes.
Looking Ahead
Amiqus is shaping the future of AML services and with Graham, the company will lead the charge in equipping regulated firms with the tools, knowledge, and support they need to navigate an increasingly challenging regulatory environment.
Callum Murray, CEO of Amiqus, commented:
“We’ve committed to scaling the impact Amiqus has by 10x over the next few years. To do that it’s critically important we’re able to attract the very best people to join us across a wide variety of roles.”
I’ve known and respected Graham for a number of years in his previous role and I’m excited for us to put our plans to work, supporting our teams, clients and delivering on the potential we have to fundamentally change the way people are able to reusably access regulated products and services online.”
Graham MacKenzie commented:
“After eight incredible years setting up and running the AML function at the Law Society of Scotland, I have gotten to know the team at Amiqus really well. I’ve always been impressed not only by the quality of their product and solutions but by their overall mission and objectives – growing ethically, sustainably and purposefully, using business as a force for good and making access to legal and other professional services simpler for everyone.”
“When making the decision to move on from the Society, it was important to me to know these are the principles which continue to guide Callum and everyone whoworks at Amiqus.”
“As money laundering and other economic crime risks become ever more complex, and the regulatory landscape expands to keep pace, it is clear to me that using technology you can trust is not only a competitive advantage – it has increasingly become an imperative. “
“As an ex-regulator, I'm acutely aware of the pressures all professional firms face in the current environment. There is however, a huge amount of untapped potential to use technology to help firms in this space and I’m looking forward to using my experience and expertise to support Amiqus and their clients unlock this opportunity, and with wider AML/economic crime compliance requirements.”
Scottish fintech GiftRound’s Wins the Great British Entrepreneur Awards
GiftRound was named the Innovation Entrepreneur of the Year at the 2024 Great British Entrepreneur Awards (GBEA) thanks to its remarkable contributions to the group gifting market, making the processes more inclusive and efficient.
A Win for GiftRound and Scottish Entrepreneurship
Held at the Grosvenor House in London, the awards ceremony brought together top innovators and changemakers from across the UK. GiftRound’s recognition was a proud moment for the company but also for Scotland’s vibrant FinTech community.
Founder and CEO Craig Forsythe shared his thoughts:
“It was great to attend the Great British Entrepreneur Awards in London and be in a room full of amazing entrepreneurs representing such a broad spectrum of industries. To have GiftRound recognised as a winner is an amazing achievement and recognition of our journey and the amazing efforts of our dynamic team who are passionate about making group collections easier.”
This prize reflects GiftRound’s innovative approach to solving everyday challenges in group gifting—creating a seamless, secure, and inclusive platform for managing group collections. GiftRound puts customers at the centre of the experience, setting a new benchmark in the sector.
Recognising the Impact of Entrepreneurs
The GBEA, often described as “The Grammys for Entrepreneurship,” is in its 12th year of honouring individuals and businesses that drive innovatio.
Francesca James, founder of the awards, emphasised the significance of this recognition:
“This year’s winners collectively generate over £3 billion in turnover and employ over 20,000 people. These extraordinary individuals are not only transforming industries but also uplifting communities and inspiring the next generation of business leaders.”
What’s Next for GiftRound?
The GiftRound team remains focussed on expanding their impact, enhancing user experiences, and driving innovation in the group gifting space. They’ll continue to empower communities and bring people together through technology.
PropEco Secures £275,000 Seed Funding to Revolutionise Property, Insurance, and Mortgage Lending with Groundbreaking Tech
Glasgow-based technology company PropEco has secured £275,000 in seed funding to accelerate its mission of future-proofing the property industry through advanced data and analytical tools. The funding will support PropEco’s efforts to address evolving social and environmental trends, including climate change, and their impact on property, ultimately laying the groundwork for international expansion over the coming year.
The funding round was led by London-based venture capital firm Symvan Capital, known for its focus on early-stage, high-growth technology companies. The University of Strathclyde’s Inspire Entrepreneurs Fund also contributed, highlighting growing recognition of the value of integrating environmental and social factors into property, insurance, and lending decisions.
A Platform for Modern Challenges
PropEco’s AI-powered platform offers a comprehensive assessment of properties, focusing on three key areas: transition risks related to climate change, physical risks from environmental shifts, and wellbeing impacts. It constantly analyses data from thousands of sources, many of which are proprietary, to provide detailed assessments of critical factors such as flood risk, air quality, and opportunities for green retrofitting.
This amount of data is leveraged to deliver a range of products, including an API, portfolio assessment services, browser-based risk assessment tools, and property reports. These tools enable clients to make better-informed decisions, offering time and cost savings, improved risk management, enhanced regulatory compliance, and improved customer retention.
Chris Hardman, Founder and CEO of PropEco, said:
“Symvan Capital and the University of Strathclyde’s investment underscores the importance of integrating environmental and social factors into property-related decisions. The risks posed by trends like climate change are becoming increasingly evident, and PropEco is well-positioned to lead in climate-conscious property technology.”
He further explained:
“Traditional methods of assessing risk in property are no longer equipped to handle the complexities of modern environmental and social challenges. PropEco’s data-driven approach offers property-level insights that empower stakeholders to make smarter, more resilient decisions.”
Well-Positioned for Growing Market Demand
As awareness of climate change’s risks continues to rise, the demand for climate-conscious technology within the property market is also growing. PropEco’s platform is designed to meet this demand by providing property professionals, lenders, and insurers with actionable data to manage emerging risks effectively.
Investment Manager Allen Xu of Symvan Capital, said:
“PropEco’s platform addresses several critical data challenges in today’s rapidly evolving market. By enabling smarter decision-making, PropEco is helping shape a more resilient future for the property sector, aligning with our own mission to support innovative founders passionate about solving current problems with vision and determination.”
Anne Henderson, Interim Head of Investment at the University of Strathclyde, commented:
“As a socially progressive institution, Strathclyde is committed to supporting entrepreneurs who are making a positive impact. Our partnership with PropEco through the Inspire Entrepreneurs Fund reflects our belief in their mission to create a sustainable future for the property market.”
For more information, visit PropEco’s website. For interview requests with Chris Hardman or further information, contact PropEco at info@propeco.io.
Finalists unveiled for the 2024 Scottish Financial Technology Awards
Scotland’s leading technology media & events company, Digit, has announced its finalists for the 2024 Scottish Financial Technology Awards, part of the Fintech Scotland Festival. This year, Digit received over 90 entries from across Scotland for its 12 award categories.
Below are the finalists for the 12 categories that celebrate the innovation and talent within Scotland’s Fintech clusters:
Best Fintech Collaboration 2024
Lloyds Banking Group/GoCodeGreen
Scottish Widows/Appointedd
Miconex/GiftRound
Best Use of Data/AI
Atto
Inicio AI
Level E Research
Predictiva
Best Startup/New Entrant 2024
loveelectric
Redeem Technologies
Renti Rewards
Gigged.AI
First Carbon
Climate & Environmental Impact 2024
GoCodeGreen
Snugg
loveelectric
Zumo
First Carbon
Digital Transformation 2024
Ionburst
Appointedd
Soar
Citizens Advice Scotland
Evangelist 2024
David McLeay – Lloyds Banking Group
Pardeep Cassells – Access Fintech
Colin Frame – Stellar Omada
Amirreza Sarencheh
Financial Service Innovation 2024
JP Jenkins
NatWest
Simple Financial Planning
TSB
Financial Technology Partner 2024
Stellar Omada
Scott Logic
InfinitX
Approov Limited
Forrit Technology Limited
Fintech of the Year
BR-DGE
LendingCrowd
Aveni.ai
AutoRek
Predictiva
Encompass Corporation
Outstanding Leader
Colin Frame – Stellar Omada
(Prof) Christine Bamford – Womenscoin
Maysara Hammouda – Predictiva
RegTech Innovation 2024
RegHub
ALMIS International
TrueDeploy
AutoRek
HAELO
Social Impact
MoneyMatiX
Inicio AI
Lightning Reach
Grand Bequest
Citizens Advice Scotland
Congratulations to the finalists. We’re looking forward to The Scottish Financial Technology Awards ceremony on the 25th of September to celebrate Scotland’s fintech cluster. Don’t forget to book your table to join us on the day.
The Fintech Summit and the Awards mark the start of the FinTech Scotland Festival. Check the full programme.
Scottish Fintech Level E Research Leads the Charge in Satellite Data Innovation
Satellite Data for Smarter Decision-Making
Level E Research develops AI-driven solutions that help organisations make better, data-informed decisions. With this new funding, the company aims to extend its capabilities by integrating satellite data into its existing AI frameworks. This integration will allow businesses to benefit from real-time data that can significantly enhance their strategic planning, risk management, and operational efficiency.
The use of satellite data offers a wealth of possibilities, from monitoring environmental changes to optimising supply chains. For example, by analysing satellite imagery, businesses can gain insights into everything from agricultural yields to urban development trends, enabling them to make more informed decisions that are both timely and impactful.
Advancing Financial Services through Satellite Insights
Level E Research’s specialises in the financial services sector, where their AI solutions are already helping clients navigate complex market conditions with greater confidence. The addition of satellite data to their analytical toolkit is expected to revolutionise how financial institutions assess risk and predict market movements.
For instance, satellite data can provide valuable information on economic activities, such as the level of industrial output in a particular region or the state of infrastructure development. These insights can be crucial for financial institutions looking to invest in emerging markets or assess the impact of natural disasters on their portfolios.
A Collaborative Effort for Maximum Impact
The success of these satellite data pilots depends on collaboration across industries. By working with other organisations in the pilot program, Level E Research will be able to refine its models, ensuring that the solutions developed are both practical and scalable.
Moreover, the insights gained from these pilots are expected to have a ripple effect across various sectors, from agriculture to insurance, demonstrating the broad applicability of satellite data when combined with cutting-edge AI.