Smart Money People expanding following investment

Smart Money People expanding following investment

Newcastle’s Smart Money People is celebrating its second birthday having completed an investment round from Northstar Ventures and a local angel investor. The business now has plans to work with over 50 financial firms over the next 12 months.

This month, over 55,000 UK consumers will visit Smart Money People to find better financial products and to share their reviews. Smart Money People’s clients currently include banks, building societies, insurance companies and trade associations.

Mike Fotis, 28, founder and CEO of Smart Money People said: "Over the last two years, we’ve built a really unique data asset. We now have the UK’s richest data set of dynamic and freely given customer experiences that spans every significant financial services firm and product category. Our data means that we truly have our finger on the pulse of the financial industry. We know which products delight customers and likewise we also know what makes customers feel like they’ve been unfairly treated."

The business is currently gearing up for the launch of its on-demand customer insight solution, which will help turn its data into actionable and on-going insight for financial firms. Mike continues, "we’re excited to open up our data more widely to help financial firms better understand how they are performing relative to their peers, and to provide the kind of insight that can also deliver better customer outcomes."

In November the team will launch the British Bank Awards 2017, a national campaign to find the best and worst banking providers.

Sean Kelly, investment manager at Northstar Ventures said: "We have been working with Mike and his team for just over 12 months now and are impressed with the progress they’ve made to date.  Smart Money People has an innovative business model and the potential to be a leading North East technology business. The investment from the Finance for Business North East Proof of Concept Fund will help them to continue their expansion. We’re proud to be supporting the business’ continued development."