The fintech firm, whose growing list of clients includes Triodos Bank, said it was looking to address a gap in the market with the launch of ShareInPay.
Chief technology officer and co-founder Andrew Pickett said: "We needed a solution for our platforms to hold client money that wasn’t e-money. We searched everywhere and couldn’t find a solution. So we decided we needed to build this ourselves."
ShareIn obtained the regulatory permission to hold client money from the Financial Conduct Authority earlier this year.
Chief executive Jude Cook added: "To say holding client money is difficult is a little bit of an understatement. There are few things in the financial regulatory environment more important than holding other people’s money."