Virgin StartUp brings its entrepreneurial experience to the FinTech scene

June 11, 2019 | Business
Written by FinTech Alliance
Virgin StartUp brings its entrepreneurial experience to the FinTech scene

For Virgin StartUp, entrepreneurship runs throughout the whole team. None more so than Managing Director Andy Fishburn, who at the bright age of 11 was selling origami birds at his primary school.

“I’d charge £1 for two birds” that he would craft on the weekends. “I’d always sell on a Monday when the pupils had their tuck money. It gave me a great understanding of supply and demand!”

Who better, then, to be steering the ship at the not-for-profit Virgin company founded by Richard Branson. Since 2013 the London-based organisation has connected 3000 UK entrepreneurs with more than £40 million in funding, mentoring, guidance and hands-on business support.

Virgin StartUp helps founders create sustainable businesses which thrive. 74% of the companies Virgin StartUp has funded are still trading 3 years after launch, compared to a national average of 54%.

FinTech companies represent a steadily increasing percentage of Virgin StartUp’s portfolio, and the organisation can call on specific FinTech expertise amongst its hundreds of mentors. Fishburn believes it’s the breadth of the experience and knowledge at Virgin StartUp’s disposal that makes it so useful for the sector.

“Essentially we are sector and industry agnostic, but we have expertise in the core business fundamentals that supports this fast-growing ecosystem,” he says.

Recent Virgin StartUp alumni include Genuine Impact, one of the most exciting new FinTechs on the block founded by BlackRock alumni, who had established expertise in financial services but needed guidance in how to brand and market their investing platform.

Another start-up to have benefited from a number of Virgin StartUp programmes is Sustainably, a FinTech company focused on enabling charitable giving. Virgin StartUp has helped guide its growth from the earliest days - starting with its first stage Start Up Loans programme, to scale-up programme StepUp and recently through the CrowdBoost equity crowdfunding accelerator.

Watching and helping these companies grow is also what keeps Fishburn excited about his job. “I’ve seen first hand that what we do genuinely makes a difference to companies. Starting and scaling a business can be really hard. We’re committed to supporting those who will take the step and build a brand.”

As the UK FinTech continues to grow, it’s clear that Fishburn and his team will be busier than ever ensuring that Virgin StartUp is there to support this rapidly expanding sector.

More in Business

ClearScore launches car insurance partnership with Confused.com

Posted By The Community

Business
November 12, 2019

ClearScore launches car insurance partnership with Confused.com

 Confused.com is bringing clarity and hundreds of pounds in savings to ClearScore’s eight million UK...

Written By: Confused.com

Confused.com brings enhanced insurance marketplace to customers of ZPG Ltd

Posted By The Community

Business
November 12, 2019

Confused.com brings enhanced insurance marketplace to customers of ZPG Ltd

Confused.com is bringing hundreds of pounds in savings to six million customers of Zoopla Property G...

Written By: Confused.com

Admiral Group’s comparison businesses align to accelerate global growth

Posted By The Community

Business
November 07, 2019

Admiral Group’s comparison businesses align to accelerate global growth

Admiral’s comparison businesses will align under Penguin Portals1 as they embark on a mission to emp...

Written By: Confused.com

Business
November 12, 2019

UK Quarterly Industry Report Quarter 3 2019

UK Economic Outlook UK Country Report for Quarter 3 2019 Read the latest UK industry report. T...

Business
October 31, 2019

The Future of Southeast Asia’s Digital Financial Services

“Fulfilling Its Promise—The future of Southeast Asia’s digital financial services&...

Business
October 31, 2019

Financial Services - Rocket fuel for post Brexit growth

Our new series will help US-based organisations cut through the macroeconomic and geopolitical noise...

There are no Events in this category