Six-figure investment drives expansion for Newcastle’s Smart Money People

Financial services insight firm Smart Money People is set to expand after securing a six-figure investment.

Having completed an investment round with Northstar Ventures and an angel investor, the Newcastle-based company now plans to work with more than 50 financial firms over the coming 12 months.

Established in October 2014 by Mike Fotis, the financial services review and insight platform today attracts more than 55k UK consumers to its website each month.

The business works to deliver customer insight for organisations such as banks, building societies, trade associations and insurance companies while helping consumers find better financial products.

Smart Money People CEO Mike Fotis said: “Over the last two years, we’ve built a really unique data asset.

“We now have the UK’s richest data set of dynamic and freely given customer experiences that spans every significant financial services firm and product category.”

He added: “Our data means that we truly have our finger on the pulse of the financial industry. We know which products delight customers and likewise we also know what makes customers feel like they’ve been unfairly treated.”

Now, on the eve of its second birthday, Smart Money People is gearing up for the launch of its on-demand customer insight offer that turns data into actionable and on-going insight for financial firms.

Speaking further, Mike commented: “We’re excited to open up our data more widely to help financial firms better understand how they are performing relative to their peers, and to provide the kind of insight that can also deliver better customer outcomes.”

Northstar Ventures investment manager Sean Kelly said his team is impressed with the progress made at Smart Money People.

He said the firm “has an innovative business model and the potential to be a leading North East technology business”.

Sean continued: “The investment from the Finance for Business North East Proof of Concept Fund will help them to continue their expansion. We’re proud to be supporting the business’ continued development.”