Nivo Solutions, a fintech startup based in Manchester and founded by former Barclays executives, has secured a £1 million investment from Maven Equity Finance, supported by the Northern Powerhouse Investment Fund and Barclays Bank.
A graduate of Barclays’ accelerator program, Nivo’s technology integrates secure instant messaging with digital identification and verification. Its platform features task management, e-signing, machine-learning-based identity document scanning, facial recognition, document collection, open banking, and no-code automation capabilities.
Founded by Michael Common (CEO) and Matthew Elliott (CCO), Nivo aims to revolutionize traditional processes in the financial sector. Common expressed enthusiasm for attracting such reputable investors, stating, “We are really pleased to be able to attract investors of the pedigree of Maven and Barclays into Nivo. We look forward to working with them, and to continue to build a leading Manchester technology company that eliminates the paper, email, and phone-based processes we’ve all had to endure.”
Nivo serves a significant portion of the UK Credit Union market, alongside various banks, building societies, alternative lenders, and brokers. The platform achieves 1,000 new downloads daily, facilitating connections between customers and financial service providers.
The investment will be instrumental in expanding Nivo’s product offerings, marketing initiatives, and sales team. Gavin Chapman, Managing Director of Principal Investments at Barclays, noted, “We are pleased to continue our support for Nivo, who have demonstrated strong traction since graduating from our 2017 accelerator program. Nivo has developed a niche yet fundamentally innovative solution aimed at disrupting the financial services industry. We look forward to collaborating with Maven and the management team to scale the business.”