Northstar Ventures invests £100k in Cramlington tech firm

A local company aiming to tackle the ‘poverty premium’ has received investment from Northstar Ventures.

incuto, which has an office in Cramlington and works as a tech partner for credit unions and the community banking sector, has received £100k from the North East Innovation Fund, supported by the European Regional Development Fund (ERDF).

The Northstar Ventures-managed funding will help support incuto’s expansion plans for its software solutions that are aimed at helping everyone have access to low cost financial services.

Alex Buchan, investment director of Northstar Ventures, said: “We’ve been impressed with incuto’s growth and scaleup plans, with a great team who are playing a key part in helping improve access to finance to low income communities.

“We’re pleased to be able to invest further funding and support to help them take their innovative solutions to the next level and work with even more partners and users.”

incuto works in partnership with credit unions and community banks across the UK, including Northumberland Community Bank.