# Incuto

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/incuto

- Industry: Financial Services
- Headquarters: Bradford, UK
- Website: www.incuto.com
- Total disclosed funding: $0.1M
- Latest round: Seed (Jun 4, 2019)
- Investors on record: 2

## About

Incuto Limited is a technology firm focused on enhancing access to affordable financial solutions by connecting community lenders with a wider audience through its innovative cloud-based platform.Founded in 2016 in Bradford, UK, Incuto Limited offers a unique platform that facilitates connections between affordable finance providers such as credit unions and their potential customers. The company has completed 6 deals, with the most recent taking place on November 13, 2020, when it raised GBP 1.75 million in venture funding from investors including British Business Bank and Mercia Asset Management, along with support from Northstar Ventures and Ascension. The firm is led by CEO Andrew Rabbitt, one of its co-founders, who has a history of entrepreneurship in the financial technology sector.Incuto provides a cloud-based technology platform designed to connect affordable finance providers, such as credit unions and community lenders, to a broader audience. The platform enhances customer experience by enabling faster online applications, improving communication and engagement, and automating back-end processes. Key offerings include services such as Faster Payments, Direct Debits, and a Benefits Checker, which facilitate a seamless lending process for both lenders and their members. By integrating marketing and operational messages directly with member databases, Incuto allows lenders to personalize communications and manage campaigns effectively. The company primarily serves the UK market, but its solutions are adaptable to various regions, allowing lenders to expand their reach and improve financial access for underserved populations.Incuto operates on a charge-per-transaction revenue model, where clients incur costs based on the number of transactions processed through its platform, rather than through traditional licensing fees or subscriptions. This model minimizes barriers to entry for community lenders and credit unions seeking to leverage digital tools to enhance their offerings. For example, a credit union utilizing Incuto’s services would pay a fixed, low cost for each transaction processed, which includes services like automated member communications and onboarding processes. By partnering with various lenders, Incuto generates revenue from transactions related to both B2B and direct-to-consumer services, facilitating a cost-effective approach for financial providers to improve their service offerings and operational efficiencies.In November 2020, Incuto Limited raised GBP 1.75 million in venture funding to support its future growth initiatives. The company plans to enhance its platform with new products designed to increase operational efficiency for lenders and expand its service offerings. Additionally, Incuto is looking to enter new geographical markets to broaden its impact and accessibility. Specific regions for expansion are currently being targeted, with plans to implement these strategies in the coming years.

## Funding rounds

- Seed, Jun 4, 2019, $0.1M — Northstar Ventures
- Seed, Apr 1, 2019 — Ascension
- Seed, Jan 25, 2018 — Ascension

## Investors

- Ascension (https://capitalatlas.ai/funds/ascension) — Seed
- Northstar Ventures (https://capitalatlas.ai/funds/northstar-ventures) — Seed