Fintech firm secures £1.35m prize at pitching competition

A fintech firm has secured a £1.35m investment following a pitch competition.

Inicio AI has developed a tool called Budgie AI which aims to provide consumers with financial support and remove the need to speak to a human.

It works with clients such as Northumbrian Water, credit agency TransUnion and IT services provider Wavenet.

Called One to Win, the competition is backed by investors and key figures in the West Midlands' tech industry including Rigby Group, SCC, Haatch and the West Midlands Co-Investment Fund.

Judges said the winning business needed to demonstrate game-changing innovation and convince them of its future growth prospects.

The reward is believed to be the largest single prize for any pitch competition in the UK and Coventry-based Inicio AI was chosen ahead of 140 other applicants.

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