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Welsh fintech accelerator reveals the 9 startups it’s backing next

Wales fintech foundry

From blockchain e-ticketing to a drone marketplace, FinTech Wales Foundry has unveiled the nine fintech startups taking part in its flagship accelerator programme.

The 2022 accelerator programme, called “Validate Raise & Scale”, doesn’t see FinTech Wales Foundry take equity in the startups.

The 12-week programme aims to help founders overcome the challenges of validating, fundraising, and scaling a new venture successfully.

The nine startups from across the UK and Europe, which were accepted in the programme after a rigorous interview process, will begin the programme on 26 January.

The programme has been initiated by the Foundry and its partners Principality Building Society, Admiral Financial Services (AFSL) and Cardiff Capital Region City Deal.

It includes intensive digital and in-person mentoring sessions with experienced industry leaders in its Cardiff hub before culminating in an event showcasing the startups’ progress at the accelerator’s end in mid-April.

“This year’s cohort represents some of the most forward-thinking startups in financial literacy, data management, blockchain, AI, and other areas of financial challenges with a growing need for innovation,” said Neil Cocker, programme director of the FinTech Wales Foundry. “We look forward to witnessing the transformation these startups bring to the financial ecosystem with their innovative digital solutions.”

Last year’s cohort collectively raised more than £9m in investment, created over 20 jobs, and signed corporate deals with the program partners. Part of the 2021 alumni was Sero, a Cardiff-based energy technology and services company who this week secured a £5.5m investment from Welsh business Hodge and leading finance services provider Legal & General to support the transition to net-zero across the residential housing sector in Wales.

Sarah Williams-Gardener, CEO, FinTech Wales, said: “The Welsh fintech sector has shown enormous resilience and success in the face of a global crisis. We have seen investments in the UK rise reaching $11.6bn in 2021 (Innovate Finance), with regional investment growing 237% year on year. Cardiff, having been recognised as a growing Fintech cluster in the Kalifa report, continues to thrive.”

The nine startups accepted into the 2022 FinTech Wales Foundry Accelerator are:


Founder: Sandipan Sen

Founded: 2019

Headquarters: Cardiff

TropoGo is India’s first integrated drone marketplace that caters to the Indian drone ecosystem by providing real-time weather and flying checklists.


Founders: Elaine Amas, TJ Amas

Founded: 2017

Headquarters: Swansea

The platform is a cloud-based quoting, invoicing and messaging software for small businesses


Founders: Steve Wiley, Stuart Wakefield

Founded: 2018

Headquarters: Wrexham

The startup is an intelligent comparison platform for financial products and services. Monva uses smart comparison services to make comparing and buying as easy as possible.


Founder: Maurício Marques

Founded: 2017

Headquarters: Madeira, Portugal

Yacooba develops next-generation travel apps using blockchain protocols tailored for e-ticketing for event producers and art travellers.


Founder: Ammar Akhtar

Founded: 2017

Headquarters: Poland

Finalrentals is an online platform for car rentals search and comparison and booking in the United Arab Emirates.


Founder: Abi Elohim

Founded: 2019

Headquarters: London

The startup is a neo-banking platform to fulfill the homeownership dream for young people with no parental support

AGAM Services

Founder: Shabnam Wazed

Founded: 2019

Headquarters: London

AGAM helps create financial IDs for their customers paving way to enter the formal economy.


Founders: Billy Williams, Boris Grekov

Founded: 2018

Headquarters: Anglesey, Wales

This startup is looking at limiting the likelihood and impact of a data breach by controlling exactly what can and can’t be done with personal data.


Founder: Daniaal Awais-Dean

Founded: 2019

Headquarters: London

A personal assistant to manage your home-buying journey, the platform is helping users take control, save time and reduce stress.