London fintech celebrates 450 per cent revenue growth and doubling of workforce

Swoop, the London headquartered “one-stop money shop for businesses”, has recorded significant growth in 2022 following a strong year.

This includes revenue growth of 450 per cent, new hires, establishing a new Commercial Mortgage team facilitating a new venture into property finance service and the launch of a new UK office in Liverpool. The fintech is led by co-founders Andrea Reynolds and Ciaran Burke.

Swoop is aiming to launch in the US by mid-2023, following a £6m Series A funding round to accelerate its international expansion and help more companies to access an array of financing options.

Since it was founded in 2017, almost 80,000 businesses have used Swoop’s software platform to investigate and access a wide range of funding sources, including equity, grants, loans and tax credits, completing £426,787,301 worth of funding.

The company has doubled its workforce since 2020, with 100 staff at present with a presence in London, Birmingham, Dublin, Liverpool, Sydney and Toronto, in addition to remote team members in Brazil.

Andrea Reynolds, CEO and founder of Swoop, commented: “Swoop is a fast-growing business. Our revenues are forecast to increase by 450 per cent in the current year thanks to a surge in demand from SMEs for financial solutions that meets their needs. We are growing fast because we meet and understand our customers at a human level.

“As we move into 2023, we are at an advanced stage of planning for entry into the US market after laying the groundwork this year for a full-scale launch by next summer.”

The company and its CEO have scooped some major industry awards in the past 12 months, including: the ‘Advocate for Women in Technology Award’ to Andrea Reynolds at the recent Deloitte Ireland Fast 50, and the company was shortlisted for both ‘Commercial Mortgage Broker of the Year’ and ‘Digital Broker of the Year’.

In December, the company won the inaugural New Statesman ‘Positive Impact on the High Street Award’, in recognition of its advocacy for small and medium sized businesses.

In October 2022, Swoop CEO Andrea Reynolds was selected to participate in Goldman Sachs’ Female Founders Cohort. In addition, she was recognised as one of the Success Pitchers magazine’s Most Successful Businesswomen to Watch in 2022.

By Matthew Neville – Correspondent, Bdaily

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