Source - LSE Non-Regulatory
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

Matt Timmins (Joint Chief Executive Officer)

Neil Stevens (Joint Chief Executive Officer)

David Thompson (Chief Financial Officer)

 

via MHP Group

MHP Group (Financial PR)

Reg Hoare

Robert Collett-Creedy

 

+44 (0) 20 3128 8147

Fintel@mhpgroup.com

 

 

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

 

 

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