AN ILKLEY-BASED banking technology firm is celebrating raising £1.75 million for its credit union platform.
Incuto has secured investment from NPIF – Mercia Equity Finance, which is part of the Northern Powerhouse Investment Fund (NPIF); the Government’s Future Fund; Ascension Ventures’ Fair By Design Fund; and the North East Innovation Fund, supported by the European Regional Development Fund and managed by Northstar Ventures.
The funding will allow the Ilkley-based company to roll out its banking technology platform to more UK credit unions and prepare for overseas expansion. It comes as the pandemic has increased demand for incuto’s technology by forcing many credit unions and community banks to digitise their services.
The latest investment brings the total raised by incuto to date to over £2.5 million and is supporting the creation of ten new jobs which will take the overall team number to over 30.
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