Integrated Finance
Automating workflows for financial technology firms and fintech startups
Funding stage: Seed
What Integrated Finance does
Integrated Finance helps financial services companies connect their technology with multiple providers of financial technology infrastructure. By creating a single integration (or Application Programming Interface, “API”) for financial institutions, product developers only need to ensure their proposition can ‘plug in’ to one place – Integrated Finance. This enables the new generation of financial services to focus on the parts of their product that add value for their customers, rather than on building and maintaining myriad bespoke back-office integrations.
APIs enable systems to talk to each other and are a critical part of building new fintech companies. However, they are complex and prone to updates, so relying on them traditionally requires a commitment of significant resource and costs. Integrated Finance could dramatically reduce the level of complexity required to bring new financial products to market.
Why we like it
It’s estimated that 60-80% of technology budgets in financial institutions are spent on managing and maintaing legacy systems*. They also hinder existing and new players from rapidly developing and scaling products.
Integrated Finance focuses on the middleware layer that enables systems to be stitched together. By doing so, it enables customers to connect to one platform which will build and maintain all of the integrations required to connect fintechs to infrastructure providers. For early-stage companies this undertaking will dramatically decrease the cost and time of product build, from up to 24 months down to 1 month, and lowers the bar for new entrants to innovate. For mature businesses looking to re-platform, this reduces complexity from an already sophisticated set of dependencies.
*The Global Treasurer – The problem of legacy tech, 2019
What our fund managers say
“Given the size of the fintech market and the size of the companies in the more mature software integration market, we believe Integrated Finance can grow to be a multi-billion dollar company.”
– Zihao Xu – Principal
Who are we backing?
Alistair Cotton – CEO, Daniel Cronin – COO. Alistair and Daniel have a long working relationship, and previously founded an API-driven B2B payments business, SettleGo. This has given them a strong understanding of the customer problem and the tech landscape they operate within.
See more on Integrated Finance’s website here.