We are thrilled to announce a significant new top-up investment from Fair4All Finance and Singlify, marking a pivotal moment in our journey to provide a new core platform for UK credit unions. This additional funding, amounting to £350,000 (£250,000 from Fair4All Finance and £100,000 from Singlify), underscores the confidence in our vision and the progress we have made.

Strengthening Our Commitment to the UK Credit Union Sector

At Singlify, our mission has always been to empower inclusive finance providers, particularly those serving underserved communities. Our platform, built on Salesforce, is designed to meet the specific needs of inclusive finance providers. This latest investment will further enhance our offerings and accelerate our entry into the UK credit union sector.

Progress and Achievements

Since the initial investment of £400,000 from Fair4All Finance in February 2023, Singlify has made substantial strides:

• Product Development: We have dedicated significant resources to product development, focusing on core banking functionalities as well as critical integrations to ensure a seamless experience for credit unions.
• Customer Base Expansion: We are now actively working with 8 UK credit unions, are about to go live with our Loan Origination module with Leeds Credit Union, and are engaged in testing several core banking migrations.

The Case for Acceleration

The additional investment will enable us to further accelerate our growth and entry into the UK credit union sector, allowing us to go to market quicker and meet the increasing demand. This funding will be directed towards:

• Enhanced Product Features: Incorporating feedback from our existing and potential credit union clients to deliver a more robust and comprehensive solution. This will also enable us to increase our ecosystem of third-party integrations, providing further options in loan decisioning, open banking, e-ID, payments, mobile app and credit control related integrations.
• Scalable Implementation: Strengthening our implementation and data migration processes to ensure smooth and efficient onboarding for new clients.

Singlify Credit Union Launch Event Manchester 2 July 2024

As part of our accelerated efforts, we are excited to invite you to our Launch Event on July 2nd. This event will showcase our latest advancements and provide an opportunity to connect with industry peers. 

Quotes

Maarten Rooney, CEO of Singlify, shared his enthusiasm about the investment:

“This top-up investment from Fair4All Finance and Singilfy is a testament to the progress we’ve made and the potential we have to transform the UK credit union sector. We are excited to further enhance our platform and accelerate our entry into the UK credit union market, ultimately supporting more inclusive financial services.”

Jonathan Turner, Technology Strategy and Innovations Lead at Fair4All Finance, commented:

“Our continued investment in Singlify reflects our commitment to driving technological innovation in the inclusive finance sector. We believe in Singlify’s vision and their ability to deliver a cutting-edge solution that will significantly benefit UK credit unions and their members.”

A Vision for the Future

Our goal is to establish Singlify as the leading core banking software provider for UK credit unions within the next two years, and this investment is a significant step towards achieving that vision. By continuing to innovate and respond to the needs of our clients, we are confident that we can drive substantial improvements in the financial landscape for underserved communities.

Thank You for Your Support

We are immensely grateful to Fair4All Finance for their continued support and belief in our mission. Together, we are making strides towards a more inclusive financial future. To our current and future clients, we thank you for your trust in Singlify and look forward to achieving great milestones together.

For more updates on our journey and to learn how Singlify can support your financial inclusion efforts, stay tuned to our blog and follow us on our social media channels.