As part of a new interview series, Matt Hyde, Director of Recruit121 and FinTech Awards Wales, talks to a whole host of professionals in and around Wales’ thriving FinTech Sector.
This week Matt caught up with Phil Sampson, Investment Principal and Head of Deals Wales at PwC.
1. Tell us about your role and main focus at PwC and how your services benefit Fintech companies and other businesses?
I lead the deals team for Wales supporting all aspects of a transaction; whether this is acquisition support, corporate finance, debt refinancing, deal readiness and EBITDA improvement.
I also lead on the CCR IIC investment fund, investing equity in innovative businesses across the Cardiff Capital Region. Across both of these axes we actively support the local Fintech community – as a great example the CCR IIC fund recently invested in Mazuma a tech enabling accountancy platform, based in Bridgend.
2. Why did PwC choose to sponsor the New Product of the Year category at the Fintech Awards Wales 2024?
PwC has always been keen to support the local ecosystem as part of our regional place and purpose agenda, and specifically, having supported it over the last couple of years, the Fintech Awards is an event that aligns with that.
The new product category is one that is very much at the heart of the CCR IIC investment fund; supporting innovative businesses – we hope that promoting this award highlights some of the benefits of driving new products and services to the market.
3. How does PwC view its role in supporting the growth of the Fintech sector in Wales and beyond?
As PwC, we consider ourselves to be very much integrated into the Fintech ecosystem, as a large professional services organisation, with over 500 heads in Cardiff, driving new products and solutions to the local market. Furthermore, we are dedicated to our status as an anchor employee and aim to grow headcount further over the next couple of years; maintaining our position as a bedrock in the local Fintech community.
Our expertise and knowledge within the local, national and international workforce provides the Fintech sector with unparalleled support as these businesses grow.
Lastly, the CCR IIC investment fund is passionate about supporting scale up businesses, and in this way there is an opportunity to provide Fintech businesses with financial (and intellectual) support.
4. What trends or innovations in Fintech are you most excited about in the coming years?
There are clearly a number of ‘buzz’ words that are on top of all investors remits at the moment – AI, Net Zero and ESG to name three – and it will be interesting to see how these factors play into the Fintech space and the growth drivers over the next 12 months.
5. How do you think Welsh Fintech companies can compete on a global scale, and what support do they need to do so?
There is a wealth of experience and knowledge in the local market which companies shouldn’t underestimate as they look to sell their products and solutions.
Support for each business is unique, but we often see businesses needing a range of conversations – from tax support, financial structuring, employment status, pricing structures, increases to banking facilities and working capital requirements to overall funding.
Less technical, C-suite members can just require challenge and support to understand how to build a network of international clients and a sounding board for debate and discussion – a lot of the time maintaining a strong network can be critical in driving this.
6. How does PwC envision the future of the Fintech sector, particularly in Wales?
Based on the last couple of years I would expect there to be a continuation of new, exciting businesses leading the growth in this sector, but also additional recognition of the sub-sectors that the region is becoming famous for, which I think will help attract further growth in the regional.
7. What role do you think established firms like PwC should play in fostering innovation and collaboration within the Fintech community?
I think that, in some respects, we are at the heart of the innovation locally – supporting with the CCR IIC Fund, targeting innovative , scale-up businesses.
Over the last 2 years we have seen over 150 innovative businesses, with a significant element associated with the Fintech sector – we hope that the enthusiasm of the fund to support business will provide a springboard for businesses to innovate and grow.
8. What does it mean to you personally to see the rise of Fintech in Wales, and how do you feel about PwC involvement in this growth?
One of the key areas that I feel has been a huge benefit to the local ecosystem is the rise of clusters and sectors; Fintech is at the heart of this and this provides a strong base for additional growth.
Personally, being based in South Wales, I get a real sense of pride in supporting and growing the local economy, providing both advice and funding opportunities.
9. Finally favourite book you have read and why
Since John Le Carre’s death a number of years ago, I’ve been making my way through his back catalogue – I think I’m just about ready to become a cold war spy off the back of them!
