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12 September, 2018 - 10:16 By Kate Sweeney

Thyngs chosen for Tech Nation’s first FinTech growth programme

Mobile payments firm Thyngs, based in Norwich, is one of 20 early-stage companies selected for Tech Nation’s first FinTech growth programme.

Thyngs offers a technology solution that turns any physical object into a frictionless payment system for consumers, letting them pay for goods without downloading a special app. 

It is just one of seven companies outside London – and the only one headquartered in the East of England – selected for the programme. 

CEO Neil Garner (pictured) said: “It's fantastic to be recognised by such an esteemed panel of industry leaders as one of a small number of high-growth FinTech companies with the potential to transform the way we pay. 

“To be one of the 20 selected is testament to the strength of our model, team and prospects, but to be one of just seven firms headquartered outside London shows that great ideas and disruptive businesses don't just come out of the capital.”

The programme is a key part of the UK Government’s FinTech Strategy, endorsed by HM Treasury, and applications were judged by senior executives from the likes of EY, Motive Partners, Passion Capital, RBS, and Starling Bank. 

Eileen Burbidge, chair of Tech Nation and HM Treasury’s special envoy for fintech, and one of the judges, said: “The calibre of applications for the programme was incredibly impressive with a wide breadth of various business models.

“The companies chosen have already demonstrated that they are winners and will certainly have many more successes to come,” added Burbidge, who is also chair of FinTech Delivery Panel and a partner at Passion Capital.

Over the next five months, Thyngs will get the chance to work with and learn from some of the most talented financial technology entrepreneurs in the UK on key topics such as the challenges of scaling, partnerships with incumbents, regulations and international expansion.

The company will also attend insights sessions in Manchester, Leeds, Edinburgh, and London to encourage cross-country networking. The programme will end with a trip to the US, where it will have the opportunity to establish a network of potential investors and partners.

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