Fintech Modulr hits Edinburgh with 'accountancy innovation roadshow'

Modulr, the business-to-business payment specialist with a growing Edinburgh presence, is to kick off its “accountancy innovation roadshow” in the Scottish capital next week.
Modulr founder and chief executive Myles Stephenson. Picture: Greg MacveanModulr founder and chief executive Myles Stephenson. Picture: Greg Macvean
Modulr founder and chief executive Myles Stephenson. Picture: Greg Macvean

The fintech firm said Edinburgh would mark the first of a six-city tour of the UK. It forms part of the company’s £20 million investment to deliver “simple, secure and reliable” payments services for accountants and their small business clients.

The roadshow is set to roll into the capital on 20 February, at Norloch House on King’s Stables Road, and will feature a morning of networking, panel discussions, round tables and “useful insights” which accountants can apply to their own businesses.

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Similar events are then scheduled to take place in Birmingham, Manchester, Belfast, Cardiff and London throughout the year.

Last August, Modulr said it was looking to create around 50 jobs in Edinburgh after scooping £10m in funding.

The fintech will use the grant from the Capability & Innovation Fund – part of the RBS Alternative Remedies Package – to create 64 “high quality” UK jobs, with more than 80 per cent of these located in Edinburgh.

The firm, whose digital accounts provide an alternative to traditional bank accounts for business payments, has also committed to investing £10m of its own funds to support jobs growth and create new products.

Founder and chief executive Myles Stephenson said: “For too long the UK’s SMEs [small and medium-sized enterprises] and their accountants have missed out on the latest payment innovations from the world-leading fintech industry on their doorstep.

“This lack of access to the fintech ecosystem has limited their ability, leading to slow payments, financial headaches and unnecessary hours pulled away from the core of their business – delivering greater value to clients.”