RCS - Fintel PLC - Inaugural investment through Fintel Labs incubator

FintelAnnouncement

20/06/2023 07:00

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RNS Number : 2171D  Fintel PLC  20 June 2023

 Fintel plc

 

("Fintel", the "Company", the "Group" or the "Business")

 

Fintel makes inaugural investment through Fintel Labs incubator

 

Fintel (AIM: FNTL), the leading provider of fintech and support services to
the UK retail financial services sector, today announced that is has made an
investment into a new and exciting financial technology company, Plannr
Technologies Limited. The investment was made through Fintel Labs, a venture
designed to foster innovation in the sector through investing in and
supporting emerging financial technology.

 

Plannr is an early-stage modern technology company, providing specialist CRM
capability for financial advisers, planners and wealth managers. Plannr has
developed an intuitive workflow which requires limited training, is easy to
onboard and operate. The business has been operating for over a year with a
test pilot group of advisers, coding and developing in an agile way to hone
the product ready for a full scale launch.

 

Fintel has invested into Plannr by taking an initial 25% equity stake in the
business.  As well as providing financial support via a short term loan,
Plannr will benefit from Fintel's sector knowledge and unrivalled distribution
network, allowing it to expedite product development and product market fit.

 

Fintel's leading financial information, ratings and fintech business Defaqto
will integrate Plannr's CRM system, extending the capabilities of its Engage
Platform to realise efficiency benefits for financial advisers. This
integration will allow advisers to store customer data, create workflows,
conduct financial planning, cash flow analysis, create suitability reports and
publish to a dedicated customer portal, creating One solution for advice
firms.

 

This investment through Fintel Labs strengthens Fintel's technology
proposition and follows rapid expansion of the Group's technology and data
footprint, as it continues to grow its business.

 

Matt Timmins, Joint CEO commented:

"Plannr represents the best of modern thinking and cutting-edge development.
The technology has been designed by advisers and crafted by the skilled
developers at Plannr to be beautifully intuitive, easy to use and infinitely
scalable. Plannr's powerful CRM capability has the potential to unlock
important efficiencies, streamlining the advice journey and improving
suitability for consumers. We look forward to delivering better outcomes for
everyone."

 

"Through our Fintel Labs incubator, we intend to utilise our position as a
market connector to accelerate the growth of exciting financial technology
companies, and deliver on our mission to deliver better consumer outcomes for
the retail finance services sector."

 

Gareth Thompson, Plannr Founder and CEO, commented:

"We are delighted to be working with Fintel as we develop the future of
financial planning CRM. Fintel's reputation for innovation and their
unrivalled market reach make them a perfect partner as we refine and scale our
offering to define a new era of financial planning CRM."

 

ENDS

 

For further information, please contact:

 Fintel plc                                     via MHP Group

 Matt Timmins (Joint Chief Executive Officer)

 Neil Stevens (Joint Chief Executive Officer)

 David Thompson (Chief Financial Officer)

 MHP Group (Financial PR)                       +44 (0) 20 3128 8147

 Reg Hoare                                      Fintel@mhpgroup.com (mailto:Fintel@mhpgroup.com)

 Robert Collett-Creedy

 

 

Notes to Editors

Fintel is the UK's leading fintech and support services business, combining
the largest provider of intermediary business support, SimplyBiz, and the
leading research, ratings and Fintech business, Defaqto.

 

Fintel provides technology, compliance and regulatory support to thousands of
intermediary businesses, data and targeted distribution services to hundreds
of product providers and empowers millions of consumers to make better
informed financial decisions. We serve our customers through three core
divisions:

 

The Intermediary Services division provides technology, compliance, and
regulatory support to thousands of intermediary businesses through a
comprehensive membership model. Members include directly authorised IFAs,
Wealth Managers and Mortgage Brokers.

 

The Distribution Channels division delivers market Insight and analysis and
targeted distribution strategies to financial institutions and product
providers. Clients include major Life and Pension companies, Investment
Houses, Banks, and Building Societies.

 

The Fintech and Research division (Defaqto) provides market leading software,
financial information and product research to product providers and
intermediaries. Defaqto also provides product ratings (Star Ratings) on
thousands of financial products. Financial products are expertly reviewed by
the Defaqto research team and are compared and rated based on their underlying
features and benefits. Defaqto ratings help consumers compare and buy
financial products with confidence.

 

For more information about Fintel, please visit the website:
www.wearefintel.com (http://www.wearefintel.com)

 

 

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