Meet The Teams

By the end of 2018, the Open Up Challenge will have awarded £4.5m in equity-free funding to 25 financial technology companies.

Their products and services reflect the breadth of innovation in financial technology for small businesses:

  • personalised comparison services to find best-value bank accounts and loans;
  • intelligent cashflow management tools;
  • ‘credit passports’ updated in real time;
  • streamlined access to invoice financing and other alternative credit sources;
  • simplified bookkeeping and automated completion of tax returns;
  • AI bots answering financial questions in natural language;
  • collaborative budgeting tools;
  • trade intelligence and automation tools; and
  • marketplaces enabling small businesses to plug into even more fintech apps

All of these products and services depend on access to financial data, and many, with support from the Challenge, are integrating open banking data into their offerings. The result will be a more competitive market, one in which UK small businesses are better able to save time, money and stress, access finance, manage risk and grow revenue. 

2018 Finalists

These 12 teams are currently competing in the 2018 round of the Challenge. Each won a £100k grant. Five or six of them will go on to win prize awards later this year worth at least £200k each.

2017 Prize Winners

These 10 teams each won a £100k prize award, in addition to their £50k grant.

2017 Finalists

These 10 teams each won a £50k grant.