Fintel, which is the parent company of SimplyBiz and Defaqto, provides technology, insights, ratings and compliance services to the retail financial services industry.

Fintel, which employs around 150 out of its 500 staff in Huddersfield, said its financial performance in the year ended December 31 2022 was in line with the board’s expectations. It said it achieved strong core revenue growth of 8 per cent to £56.4m, which was ahead of its medium-term target and was underpinned by “significant growth” in its fintech and research divisions.

Matt Timmins, the joint CEO, commented: “Fintel continues to deliver on its strategic plan of accelerating growth, digitisation and service expansion. During 2022 we delivered another set of strong financial results, while continuing to invest in our technology and services platform.

“We have started 2023 with real momentum, continuing to trade in line with expectations and progress our strategy at pace, forging multi-year strategic partnerships and developing our unique technology and service platform.

He added: “As we look to the future, we are confident in our financial agility and growth strategy that is underpinned by our resilient and highly cash generative business. We are well positioned for strong and sustainable growth, inspiring better outcomes for all.”

Mr Timmins added: “Huddersfield is between Manchester and Leeds, which gives us access to two really vibrant pools of talent, also Huddersfield University is one of the best in the country.”

Mr Timmins also noted that, during difficult times in the market, people tended to seek out financial advice, a trend which had benefited Fintel last year.

In 2022, Fintel also announced the launch of its labs incubator, which it said would strengthen its technology proposition and support innovation across the market.

Fintel said its selective M&A pipeline is expected to enhance growth in the medium term, and it was underpinned by enhanced financial reserves and strong cashflow conversion. It was also revealed that Phil Smith, who is currently an independent non-executive director, is to become chair of Fintel following the group’s AGM on May 18 2023; Ken Davy, the current non-executive chair, will remain on the board as a non-executive director.

Commenting on outook, Fintel said: “Our business is strong and resilient through our high customer retention, unrivalled scale, focus on the UK market and our breadth of coverage across all aspects of the retail financial services market.

The statement added: “Over a 20-year trading history, the company has continued to grow and develop through a range of macroeconomic environments and challenges, including extensive regulatory upheaval and the global financial crisis. Our deep sector knowledge and strength of our relationships give us confidence in a bright future.”

Huddersfield-based Fintel delivers strong results as it focuses on mergers and acquisition pipeline