FinTech Scotland Strengthens Board with CienDos Founder and SEP Investment Director

FinTech Scotland has appointed Jules Salmond, Founder and CEO of CienDos, and Andrew Davidson, Investment Director at Scottish Equity Partners, to its board. The move signals a strategic refresh for the cluster management organisation, aiming to bridge the gap between Scottish startups and the global growth equity markets required for international scaling.

What was announced

The appointments are the centerpiece of a strategic refresh designed to give the FinTech Scotland Board a more active role in shaping the cluster’s long-term strategy. This evolution focuses on aligning the organisation’s initiatives with global market opportunities and the specific ambitions of firms within the Scottish ecosystem. By adding a repeat founder and a growth equity specialist, the board aims to provide practical insights into the mechanics of building and funding high-growth technology companies.

Jules Salmond brings a track record of scaling and exiting technology businesses. She was previously part of the executive team at Cerico, a technology and data firm, which was subsequently sold to Dow Jones Inc. Her current venture, the Glasgow-based data company CienDos, addresses information gaps for financial institutions in areas such as lead generation, onboarding, credit, and risk. Salmond has already engaged with the cluster’s infrastructure, utilizing the FRIL programme to establish a strategic partnership with Equifax.

Andrew Davidson joins from Scottish Equity Partners (SEP), a European growth equity firm that specializes in enterprise technology. SEP’s portfolio already includes Scottish fintech success stories like AutoRek. Davidson’s role on the board will involve advising on how investors assess and fund businesses as they transition from early-stage ventures to established scale-ups. This expertise is intended to help FinTech Scotland support firms looking to raise the significant capital necessary for international expansion.

"As a founder and an investor, Jules and Andrew bring practical experience of what it takes to build companies and fund them – insight that will help us support fintechs to grow in Scotland and internationally, and raise money to power their growth, as well as helping the wider sector make the most of global opportunities. We are delighted that they have agreed to join the Board and look forward to their input."

Aleks Tomczyk, Chief Executive at FinTech Scotland

The companies involved

FinTech Scotland serves as the primary cluster management organisation for the region, operating under the parentage of The University of Edinburgh. It acts as a strategic hub, connecting the private sector, government, and academia to foster financial innovation. The organisation has been instrumental in establishing Scotland as a recognized global fintech hub, facilitating partnerships between startups and major financial institutions.

Scottish Equity Partners (SEP) is a leading European growth equity firm with a focus on high-growth technology companies. Unlike early-stage venture capital, SEP typically targets businesses that have already demonstrated market fit and are looking for capital to accelerate their expansion. Their presence on the board reflects a shift in the Scottish cluster toward later-stage maturity.

CienDos is a Glasgow-based data specialist that provides financial institutions with deeper insights into the businesses they lend to and insure. By closing data gaps in the underwriting and risk assessment process, the company represents the growing "data-as-a-service" segment of the fintech market, which is increasingly vital for modern credit and insurance workflows.

What FF News has reported before

FF News has documented the steady expansion of the Scottish fintech ecosystem through several key milestones. We recently covered the FinTech Scotland Festival 2026, which highlighted the cluster's ninth year of driving global innovation. The organisation has also been a major proponent of emerging technologies, notably awarding £200,000 to four fintechs for Responsible AI innovation. Furthermore, FinTech Scotland has successfully attracted major corporate partners to the region, with Telefónica Tech and Tesco Insurance & Money Services joining as strategic partners to drive digital transformation and AI-led initiatives.

What this means

This board refresh highlights a pivot in the Scottish fintech strategy from incubation to institutional growth. While the region has been successful at generating a high volume of startups, the "scale-up gap"—where firms struggle to secure the mid-to-late stage funding required for global dominance—remains a challenge. By integrating growth equity expertise directly into its leadership, FinTech Scotland is signaling that its next phase will be more commercially aggressive. The pressure is now on the organisation to translate these high-level appointments into tangible funding rounds for its members. For the wider industry, it suggests that regional hubs must move beyond general advocacy and provide specific, exit-oriented guidance to remain competitive against larger financial centers.