Fintech in Wales: A nation building global impact through innovation, collaboration and purpose

Sarah Jones - CEO, FinTech Wales

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As CEO of FinTech Wales, I have the privilege of seeing first-hand the transformation of our fintech ecosystem. What stands out today is not just the pace of growth, but the confidence, collaboration and purpose that now define fintech in Wales.

We are no longer an emerging cluster. Wales boasts a mature, globally connected fintech ecosystem – one that is not only participating in the future of financial services, but actively shaping it.

A collaborative ecosystem with real depth

One of Wales’ greatest strengths is how we work together. Our ecosystem brings together startups, scale-ups, global institutions, universities, government and partners, all aligned around a shared ambition: to build a better future.

This collaborative model enables innovation to move faster, ideas to scale more effectively, and businesses to access support at every stage of growth.

What began as a small group of pioneering fintechs has evolved into a diverse ecosystem, with strength across areas including AI, cyber, regtech, insurtech, proptech, green finance, payments, SME finance, open banking, financial inclusion, digital identity and wealth innovation – creating a resilient sector capable of competing globally.

From startup energy to scale-up success

A defining shift has been the move from startup-led growth to a more balanced ecosystem with an increasing number of scale-ups.

Employment continues to rise, with over 13,000 people now working across fintech in Wales, and strong demand for skills in cybersecurity, compliance, data and AI. These are high-value roles contributing to long-term economic growth.

This maturity is also reflected in investment. Welsh fintechs secured over £20 million in 2025, alongside a landmark £1.5 billion deal by Propel Finance – a clear signal of investor confidence.

However, more investment is still needed. Access to consistent early-stage and scale-up capital remains a challenge, and continued growth in investment will be critical to compete globally.

Innovation that makes a difference

Innovation in Wales is not just about technology – it’s about real-world impact.

In the last 12 months alone, we’ve seen powerful examples improving people’s lives. IE Hub has helped identify over £26 million in unclaimed benefits, while Starling Bank has launched AI-driven tools to help customers better manage their money. Organisations such as Smart Money Cymru are supporting communities to access affordable loans, build savings and improve financial resilience.

Companies like Menna are using generative AI and real-time data to help small businesses make better financial decisions and manage cash flow, while EA Global AI is streamlining due diligence, regulatory reporting and compliance through AI-powered automation. At the same time, innovators like Zerid are tackling one of the biggest challenges in the digital economy – trust – by enabling organisations and customers to verify communications in real time, helping to stop impersonation scams, phishing and fraud before they happen.

These are not just success stories – they are proof that innovation in Wales is grounded in purpose.

A national ecosystem with global reach

While Cardiff and Newport remain key hubs, fintech activity is spreading across Wales, with growing clusters in north and west Wales supported by strong digital infrastructure and regional investment.

Welsh fintechs are increasingly outward-looking. Companies like Final Rentals, Bikmo and Delio are expanding internationally, proving that innovation built in Wales can compete – and win – on the global stage.

We are also attracting international businesses, drawn by our talent, cost base and collaborative environment. Wales offers a place where you can scale effectively, with lower costs, strong collaboration and easier access to partners and talent.

Talent as our foundation

None of this progress would be possible without our people. Our universities, colleges and training providers are building the skills pipeline in areas such as AI, data science and cybersecurity. At the same time, we are creating new pathways into fintech through apprenticeships, graduate programmes and career transition initiatives.

I am particularly proud of how inclusive this approach is becoming, opening opportunities for people from all backgrounds and ensuring the sector reflects the communities it serves.

Challenges – and a clear opportunity ahead

Like any growing ecosystem, we face challenges. Access to scale-up capital, regulatory complexity, and talent retention remain key priorities.

However, the opportunity is significant.

With the UK Government’s Industrial Strategy and the £500 million Local Growth Fund for Wales, we have a strong platform for growth. Wales is also at the forefront of emerging technologies, with two designated AI Growth Zones strengthening capabilities in AI and data.

Combined with our collaborative ecosystem, this positions Wales as one of the most attractive places in the UK to build and scale a fintech and tech business.

From momentum to global impact

What excites me most is where we go next.

Fintech is a cornerstone of the Welsh economy – creating jobs, attracting investment, and helping build a fairer, more inclusive financial system.

Our ambition is clear: to move from momentum to global impact.

Wales’ first Fintech Festival

That ambition will be on full display on 3rd June 2026, when we host Wales’ first Fintech Festival at the Swansea Building Society Arena.

This event will bring together Welsh fintechs, tech and finance organisations with investors and collaborators from across the UK and beyond, showcasing innovation and creating new opportunities for growth.

But more than that, it is an open invitation.

If you are part of any industry and are curious about how fintech and technology can unlock new opportunities, drive efficiency, or transform how you operate, this is your moment to explore what’s possible.

We believe the best innovation happens when sectors come together, collaborate with purpose, and challenge thinking. That is what this festival is about.

For me, this is about showcasing the ambition, creativity and capability of Wales to the world — and inviting others to be part of that journey.

Because Wales is ready. Our ecosystem is strong. Our ambition is clear.

And this is just the beginning.

Find out more at fintechwales.org