honcho receives support from government-backed fintech programme
The UK's first reverse-auction marketplace app for financial services, honcho, has been accepted into the UK’s Government-backed acceleration programme for early-stage scale-ups.
Launched by Theresa May and Chancellor Philip Hammond in November 2017, Tech Nation is a national network for ambitious tech entrepreneurs established to maintain the UK’s place as a world leader in the sector.
The 23 companies who made the cut for the latest programme were handpicked by renowned fintech entrepreneurs including Starling Bank boss Anne Boden, Wealthify CEO Richard Theo and Tech Nation chair Eileen Burbidge.
Now in its second year, the programme provides some of the UK’s most promising fintech businesses exclusive with access to expertise and insights from some of the country's most talented and successful fintech entrepreneurs, investors and partners.
Earlier this month Durham-based honcho officially launched its insurance app which enables insurers to bid against each other, in real-time, for a customer's business.
“To be offered a spot on this hugely oversubscribed government-backed programme is big news for us, and affirmation that our brand shows great disruptive potential in the UK and beyond. The insights and opportunities we’re set to receive on the programme are money-can’t-buy and we feel extremely lucky be given access to the minds of leading entrepreneurs who have already successfully grown fintech products from the ground up.”
Gavin Sewell, CEO of honcho
The UK is a world leader in fintech, with £4.5 billion in funding generated between 2015 and 2018 for our high-tech startups, and no sign of slowing down. This position is being bolstered further by the increasingly high calibre of companies being accepted onto this year’s Tech Nation Fintech programme. This programme is playing a vital role in supporting our Fintech Sector Strategy, accelerating the development of this already thriving sector and reinforcing our position as an international fintech centre.
John Glen, The Economic Secretary to the Treasury