Leading UK Fintech Company Relocates to Cardiff

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Development Bank of Wales , 11th July 2023

IE Hub, the income and expenditure hub used by financial services providers, utility companies and consumers has relocated to Cardiff following the completion of a £1 million fundraising round that has been led by a syndicate of business angels and Angels Invest Wales.

Founded by industry professionals, IE Hub is a free online tool that allows users to complete income and expenditure forms in a stress-free and convenient manner. The platform empowers individuals to take control of the information they share, streamlining the budgeting process and eliminating the need for lengthy phone conversations. IE Hub also features a benefit checker tool allows customers to determine eligibility for means-tested benefits and water social tariffs, improving affordability and financial well-being.

Selected for Tech Nation Fintech 3.0 in September 2020, IE Hub has relocated from Milton Keynes to Cardiff with the support of lead investor Eamon Tuhami. The funding will provide working capital to accelerate growth with further investment in technology, operations and marketing. Up to four new jobs are expected to be created.

Tom Preene, Angels Invest Wales; Dylan Jones, Chief Executive, IE Hub; Eamon Tuhami, lead investor

Lead investor Eamon Tuhami said:

“I’ve been extremely impressed with the ability of IE Hub to help and empower consumers who find themselves in difficult financial situations, while at the same time delivering an essential service to creditors. This perfect combination, linked with huge market potential make them a FinGood that I’m proud to back. “

Chief Executive of IE Hub, Dylan Jones said:

“Throughout this funding round, it has become increasingly evident to the new investors that IE Hub brings such value to consumers facing debt problems and creditors that need a system to support complex customer situations. Our investors have total empathy with our mission to support those in debt and are aligned to being part of a unique solution to address the growing problem.

“In closing this round, I would like to call out a special thankyou to our existing investors that have continued to support us on this exciting journey, to Eamon Tuhami at Hwyl Ventures for his guidance with Angels Invest Wales and to the Development Bank for showing huge support for our purpose and growth in Wales. I also thank CMS Legal and Capital Law for their advice.”

Tom Preene is Operations Manager for Angels Invest Wales. He said:

“IE Hub is at the cutting-edge of fintech innovation and therefore an attractive proposition for investors who recognise the value of how this unique self-service platform is helping consumers to manage their debt with creditors while providing financial services providers with a robust solution that treats customers fairly and in line with regulatory requirements. As Wales’ biggest angel network, we’re pleased to be supporting Eamon as Lead Investor.”

The investment by the syndicate of angels was match funded by the Wales Angel Co-Investment Fund. With equity and loans from £25,000 to £250,000, the £8 million fund is available to syndicates of investors seeking to co-invest in Wales based SMEs. Syndicates are managed by Lead Investors who have been pre-approved by Angels Invest Wales.

Mae IE Hub, y ganolfan incwm a gwariant a ddefnyddir gan ddarparwyr gwasanaethau ariannol, cwmnïau cyfleustodau a defnyddwyr wedi adleoli i Gaerdydd ar ôl cwblhau rownd codi arian gwerth £1 miliwn a arweiniwyd gan syndicet o angylion busnes ac Angylion Buddsoddi Cymru.

Wedi'i sefydlu gan weithwyr proffesiynol y diwydiant, mae IE Hub yn offeryn ar-lein rhad ac am ddim sy'n caniatáu i ddefnyddwyr gwblhau ffurflenni incwm a gwariant mewn modd cyfleus a di-straen. Mae'r platfform yn grymuso unigolion i gymryd rheolaeth o'r wybodaeth y maent yn ei rhannu, gan symleiddio'r broses gyllidebu a dileu'r angen am sgyrsiau ffôn hir. Mae IE Hub hefyd yn cynnwys teclyn gwirio budd-daliadau sy'n galluogi cwsmeriaid i bennu cymhwysedd ar gyfer budd-daliadau prawf modd a thariffau cymdeithasol dŵr, gan wella fforddiadwyedd a lles ariannol.

Wedi’i ddewis ar gyfer Tech Nation Fintech 3.0 ym mis Medi 2020, mae IE Hub wedi adleoli o Milton Keynes i Gaerdydd gyda chefnogaeth y prif fuddsoddwr Eamon Tuhami. Bydd y cyllid yn darparu cyfalaf gweithio i gyflymu twf gyda buddsoddiad pellach mewn technoleg, gweithrediadau a marchnata. Mae disgwyl i hyd at bedair swydd newydd gael eu creu.

Dywedodd y buddsoddwr arweiniol Eamon Tuhami:

“Mae gallu IE Hub i helpu a grymuso defnyddwyr sy’n cael eu hunain mewn sefyllfaoedd ariannol anodd wedi gwneud argraff fawr arnaf, ac ar yr un pryd yn darparu gwasanaeth hanfodol i gredydwyr. Mae'r cyfuniad perffaith hwn, sy'n gysylltiedig â photensial marchnad enfawr, yn eu gwneud yn FinGood yr wyf yn falch o'i gefnogi.”

Dywedodd Prif Weithredwr IE Hub, Dylan Jones:

“Trwy gydol y rownd ariannu hon, mae wedi dod yn fwyfwy amlwg i’r buddsoddwyr newydd bod IE Hub yn dod â’r fath werth i ddefnyddwyr sy’n wynebu problemau dyled a chredydwyr sydd angen system i gefnogi sefyllfaoedd cwsmeriaid cymhleth. Mae gan ein buddsoddwyr empathi llwyr â’n cenhadaeth i gefnogi’r rhai sydd mewn dyled ac maent yn cyd-fynd â bod yn rhan o ateb unigryw i fynd i’r afael â’r broblem gynyddol.

“Wrth gloi’r rownd hon, hoffwn ddiolch yn arbennig i’n buddsoddwyr presennol sydd wedi parhau i’n cefnogi ar y daith gyffrous hon, i Eamon Tuhami yn Hwyl Ventures am ei arweiniad gydag Angylion Buddsoddi Cymru ac i’r Banc Datblygu am ddangos cefnogaeth aruthrol i’n pwrpas a’n twf yng Nghymru. Diolch hefyd i CMS Legal and Capital Law am eu cyngor.”

Tom Preene yw Rheolwr Gweithrediadau Angylion Buddsoddi Cymru. Dywedodd:

“Mae IE Hub ar flaen y gad o ran arloesi technolegol ac felly’n gynnig deniadol i fuddsoddwyr sy’n cydnabod gwerth sut mae’r platfform hunan wasanaeth unigryw hwn yn helpu defnyddwyr i reoli eu dyled gyda chredydwyr tra’n darparu gwasanaethau ariannol i ddarparwyr gwasanaethau ariannol â datrysiad cadarn sy'n trin cwsmeriaid yn deg ac yn unol â gofynion rheoliadol. Fel rhwydwaith angylion mwyaf Cymru, rydym yn falch o gefnogi Eamon fel Prif Fuddsoddwr.”

Cafodd y buddsoddiad gan y syndicet o angylion arian cyfatebol gan Gronfa Cyd-fuddsoddi Angylion Cymru. Gydag ecwiti a benthyciadau rhwng £25,000 a £250,000, mae’r gronfa £8 miliwn ar gael i syndicetiau o fuddsoddwyr sy’n ceisio cyd-fuddsoddi mewn busnesau bach a chanolig yng Nghymru. Rheolir syndicetiau gan Fuddsoddwyr Arweiniol sydd wedi’u cymeradwyo ymlaen llaw gan Angylion Buddsoddi Cymru.