Wynyard-based review platform Smart Money People has secured a six-figure investment just nine months after launching.
Founded by Michael Fotis in 2014, Smart Money People is the UK’s only customer experience and review platform focused on the financial services industry.
It allows users to read and write customer reviews for over 400 financial brands, thereby helping them to find the best products and providers based on customer experience.
The fast-growing start-up has already attracted a number of financial businesses across the insurance, banking and alternative finance sectors.
It offers the businesses that join it a platform to attract more customers, unparalleled customer insight, and the opportunity to build greater trust and transparency within financial services.
It has now secured financial backing from Northstar Ventures and the TwentyThreeMiles Fund.
Founder and CEO Michael Fotis previously worked as a management consultant at Deloitte, and led innovative digital and customer experience projects for leading banking and insurance companies.
“We wanted to build a new type of review platform, one that helps customers and businesses alike. With this investment we can move forward faster, and take the business to the next level,” said the 26-year-old.
“This investment will be used to grow Smart Money People’s team, develop our core platform further and support additional marketing activity.”
Alex Buchan, of Northstar Ventures, said: “We are proud to be leading this investment round in what is a promising digital business.
“It is exciting to see an innovative platform that now has national reach flourish in the North East.”
Paul Callaghan, of TwentyThreeMiles Fund, added: “Smart Money People is the first investment that the fund has made, and we are pleased to be part of this follow-on investment.
“The next phase of the business is exciting and we look forward to our continued involvement.”