Fintech/Analysis/ These are the fintechs backed by the UK Future Fund The UK government's investment scheme now counts at least a dozen finance-focused startups in its portfolio By Isabel Woodford 24 August 2020 Credit: Roman Fox, Unsplash Credit: Roman Fox, Unsplash \Fintech Which European banking app is winning the race for customers? By Amy O'Brien 21 February 2023 Fintech/Analysis/ These are the fintechs backed by the UK Future Fund The UK government's investment scheme now counts at least a dozen finance-focused startups in its portfolio By Isabel Woodford 24 August 2020 The Future Fund — a scheme set up by the UK government to financially support startups amid coronavirus — has been busy processing hundreds of applications. By June, it had approved 252 convertible loans, translating into £236.2m in funding. Yet it’s difficult to know who the beneficiaries are because the institution in charge of approving applications, the British Business Bank, has opted not to disclose the names. As such, Sifted has quizzed countless companies and investors (including crowdfunding site Seedrs) directly to find out which ones have taken advantage of the scheme so far, before it closes at the end of September. We found that among those joining the scheme are several fintechs; a category of startups which have had mixed results in lockdown but has generally seen a decline in funding. Indeed, 70% of UK fintechs haven’t received fresh capital since the crisis began, according to a recent report by Innovate Finance. The following fintech companies have all received between £125,000 and £5m from the Future Fund, and will soon count the UK government among their investors. Iwoca (SME lending) Plum (Savings/investment app) Fronted (Rental credit) Habito (Digital mortgage broker) Nude (Savings app for home-buyers) Kroo (Money split app) Lintel (Student digital banking app) Tymit (Challenger credit card) Yordex (Spend management software) Knoma (Credit tool for education) TuningBill (Banking for cross-border businesses) Assetz Capital (Peer-to-peer lender) CapitalRise (Property investing platform) Oval Money (Savings/ investment app) *** Did we miss anyone? Let us know at [email protected] and we’ll update the list Related Articles UK government pledges £1bn to support startups By Michael Stothard Click here to read more Fintech in coronatimes: Why some sub-sectors are especially vulnerable in a downturn By Isabel Woodford Click here to read more The debate still raging around the UK’s Future Fund By Amy Lewin Click here to read more Most Read 1 \Healthtech Is Daniel Ek’s new body scanner worth the hype? Sifted tried it out 2 \Venture Capital VC diversity needs to change — and white men need to take responsibility 3 \Venture Capital New €3.75bn European Investment Fund pot to back late-stage VCs 4 \Sustainability Counteract closes £15m fund for carbon removal solutions 5 \Mobility Was the $5bn that VCs plugged into escooters worth it?