New clients, new funding, new partnerships: Kore Labs blazes a trail in 2024

17 July 2024

London, UK

Kore Labs, the first dedicated SaaS solution for end-to-end product management in financial services, has notched up an unprecedented set of achievements in H1 2024, as the business continues to go from strength to strength.

A particular point of pride during the past six months has been the onboarding of prestigious new clients Lloyds Banking Group and Schroders Personal Wealth.

National wealth management expert Schroders Personal Wealth has opted to deploy KorePRM, Kore Labs’ product management and governance platform, to support its Consumer Duty compliance strategy.

Meanwhile, Lloyds Banking Group is using the solution to manage and govern its fintech investment process, strengthening its position as a leader in identifying and investing in start-ups and scale-ups.

Additionally, Kore Labs has secured over £2m in non-dilutive funding from Innovate UK, the innovation agency of the UK Government, in the form of grants and a heavily subsidised loan. This funding is highly competitive with only 2% of applicants being successful.

In February, the company joined the UK Financial Conduct Authority (FCA)’s Innovation Pathways programme for a special project to develop standardised taxonomies in financial services language. Harnessing the power of Kore Labs’ WikiKore platform, the partnership is currently working on Consumer Duty and ESG.

Hot on the heels of these developments came the news that Kore Labs had been included in the first ever Sifted Leaderboard, the Sifted 100: UK & Ireland. The leaderboard ranks the UK’s fastest-growing startups in the UK and Ireland by revenue growth. Kore Labs came in at a respectable position 64, with 94.50% two-year CAGR placing it ahead of a number of well-known fintech brands.

And to cap the first six months of 2024, Kore Labs won plaudits at Money20/20 Europe in Amsterdam, where it was unveiled as one of six start-ups “poised to transform the world of money”.

The businesses were the focus of a start-up media session which described how they were on course to become the next “heavy hitters” in the industry.

Kore Labs Founder and CEO Sabrina Del Prete commented: “In 2023 we enjoyed some significant achievements against an uncertain economic backdrop for the fintech sector. We’ve relentlessly built on this progress during the first six months of 2024, with wins in three important areas – clients, funding and partnerships.

“The key to this success is our culture of non-stop innovation, driven by an incredibly committed and knowledgeable team. The second half of the year will see KorePRM’s and WikiKore’s product roadmaps enter an exciting new phase. Developments in AI and machine learning are well underway, and the outcome of this work will be a new set of tools and functionality that empowers financial services professionals to meet the challenges of tomorrow. I’m confident that the final six months of 2024 will be just as promising as the first.”

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ENDS

About Kore

Kore is a turnkey digital product management and embedded governance solution for the global financial services industry. Kore’s Product-Management-as-a-Service platform offers a set of specialised digital tools for creating, managing and monitoring financial products, from ideation to withdrawal.

With robust controls and checks to facilitate compliance, transparency and collaboration, Kore allows organisations to build a full digital audit trail of product events and decisions, retrievable at the touch of a button.

Media contact

marketing@korelabs.co