" class="no-js "lang="en-US"> TotallyMoney joins Innovate Finance as it drives to enable fintech
Wednesday, February 01, 2023
Saltedge Report

TotallyMoney joins Innovate Finance as it drives to enable fintech for everyone

TotallyMoney, the credit app that helps everyone move their finances forward, has joined Innovate Finance, the independent industry body which represents and advances the global fintech community in the UK.

  • TotallyMoney is the UKs top-rated credit report provider with a focus on supporting the c. 25m often overlooked by the traditional financial ecosystem
  • This comes shortly after it announced its partnership with Bud, which unlocks open banking data, improving transparency and better lending decision-making
  • In November 2021 the fintech announced its latest investment round of £9m, and at the same time reached the 4 million customer milestone
  • In the past 12 months TotallyMoney has grown its team by 20%, while being recognised by Best Companies as the UK’s 5th best finance firm to work for

With inflation at a 30-year high and expected to continue rising, as well as imminent tax hikes and increasing interest rates, TotallyMoney’s focus is on the 50% of people currently under-served by the UK credit market.

TotallyMoney provides its customers with the UK’s only free live credit score and report, giving them personalised recommendations to help improve their financial wellbeing.

The Old Street-based business will use its membership with Innovate Finance to forge deeper relationships with the growing UK fintech community, as it continues its drive to enable fintech for everyone.

Commenting on joining Innovate Finance, Alastair Douglas, CEO of TotallyMoney said:

“We’re really excited to be joining Innovate Finance, a community of some of the UK’s most exciting and forward-thinking fintechs.

“However, with a recent StepChange report finding that 53% of adults would be reluctant to seek financial help from a bank or credit firm* when in difficulty, we know a lot of work still needs to be done to prove that there is the support they need.

“With the cost-of-living crisis continuing to unfold, it’s more important than ever that the industry works together. We need to ensure consumer data works for them, and not against them, and that people are provided with the tools they need to navigate through financial difficulties, to gain the momentum and reach their goals.

“At TotallyMoney we’re on a mission to help everyone move their finances forward. By working together, with like-minded members of the Innovate Finance community, we hope to make this mission a reality.”

Parveen Dhanda, Ecosystem Director at Innovate Finance comments:

“We are excited to welcome TotallyMoney as Innovate Finance members, where they will join an ever-growing ecosystem of forward-thinking and innovative companies, ranging from seed stage startups and global financial institutions to investors, professional services firms, and global FinTech hubs.”

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