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To help every saver manage, protect, and grow their cash.
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back within 2 weeks
68% employee growth in 12 months
Cash deposit marketplaces handle savings on behalf of their clients. Instead of large lump sums floundering in low savings accounts, they help clients deposit these funds in or across the best interest-bearing deposit accounts, with the potential to make significant passive income.
There’s a growing appetite for them, and over the past decade Flagstone has quietly emerged as the UK market leader. Flagstone services individuals, charities, and businesses looking to spread their savings across any of 47 different UK banks, including institutions like Coutts and newer players like Revolut.
In the last 3 years, the company has ramped up its competitive edge, too. In 2021, Flagstone dropped its minimum required personal deposit from £250k to £50k to fall in line with high-end competitor Insignis Cash Solutions. Plus, in 2022, it began selling its product internationally.
The international market may prove trickier for Flagstone to crack - UK competitor Raisin has a strong pan-European market presence and already commands high levels of funding. Furthermore, it has a lower minimum required deposit than Flagstone. Nevertheless, there’s space for Flagstone to carve out its own niche if it focuses on organisations and wealthier clientele.
Kirsty
Company Specialist at Welcome to the Jungle
Mar 2024
$137.4m
GROWTH EQUITY VC
Mar 2022
$3.4m
LATE VC
Andrew Thatcher
(CEO)Previously executive director at Citi, before serving as head of marketing at GLG Partners, and then executive director of Man. Afterwards moved into an MD role at Banque Havilland S.A.
Simon Merchant
(CEO)Was a senior partner at Fidelity Capital Partners Limited alongside co-founding and serving as CEO at Jacana Partners, and then co-founding New Street Capital.
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Opportunities to learn (1)
Autonomy (1)
Open and honest communication (1)
People of all backgrounds are welcomed (1)
Focus on employee wellbeing (1)
Growing fast (1)
The day to day work itself offers plenty of opportunities to learn, but on top of that, Flagstone has a really positive culture of personal development. One of my favourite things about working as an engineer at Flagstone is the one day of personal development set aside per sprint. It's a day protected from meetings where the focus of the day is on personal development. I love those days where I can really deep dive on some learning!
Software Engineering
Opportunities to learn
Sep 2024
Autonomy is weaved into all of the company values. Ownership is encouraged and new ideas are welcomed with enthusiasm, no matter where they come from. There is clarity in both company direction and how different areas of the business can contribute to that direction. This combination of ownership, openness, clarity and ambition supports people to really lean into having their autonomy and thriving in it.
Software Engineering
Autonomy
Sep 2024
There is a genuine support for wellbeing and a healthy and sustainable work/life balance is actively encouraged. There are lots of initiatives to support wellbeing and good provisions for mental health and wellbeing support. Most importantly, these are not empty initiatives because the support for wellbeing runs through every level of the company. The talk from the CEO on the new joiners day was one of the most refreshing perspectives I've ever had on joining a company, and confirmed I'd made a fantastic decision joining Flagstone.
Software Engineering
Focus on employee wellbeing
Sep 2024
Flagstone benefits from a workforce that is truly diverse in terms of culture, ethnicity, religion, nationality, socioeconomics, gender and neurotypicality. Difference is celebrated and everyone is strongly encouraged to be 'their authentic self'. We regularly mark occasions relating to diversity (e.g. Pride, Neurodiversity week, Black History month, Mental health day, Women in tech etc) with events, talks and food. We are supported and encouraged to attend training relating to diversity and inclusion e.g. ACAS training sessions. All of these factors contribute to an energetic and vibrant team atmosphere. One of Flagstone's three mantra's is 'Community Counts', and it truly feels like it does.
Data
People of all backgrounds are welcomed
Sep 2024
Flagstone is growing at an incredible rate. We aim to increase to the size of our business significantly in the next three years and are in the process of expanding our workforce by c.20% in the next few months. We are innovating constantly, and in addition to growing our establish business areas, we have plans to add new product lines very soon. This speed of change makes for huge opportunity for staff to diversify their role, push for promotion within and outside of their teams, and learn new skills in new technology.
Data
Growing fast
Sep 2024
In Flagstone, 50% of staff appraisal is based on cultural/behavioural factors e.g. how collaborative are you, how much do you support others, how approachable are you for advice, how considerate are you of the way you communicate information. Everyone is encourage to provide regular (at least weekly) feedback to their colleagues, not just to congratulate and celebrate them, but also to course-correct and refine their delivery. Staff are all measured on the same metrics irrespective of seniority. Staff are rated not only on the quality of the feedback they have provided, but also on the manner in which they have received an adapted to feedback. I believe it is this focus on open and honest commination encourages collaboration and teamwork and deters people from attempting to excel personally at the expense of anyone else.
Data
Open and honest communication
Sep 2024
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