Firm wins fintech package
Castlight wins backing for disruptive tech
The business was chosen over four other finalists: Saccade Diagnostics, Ahoi, Pixey, and Wallet Services.
Castlight is a strategic partner of consumer and business insights firm Equifax and will receive a secondment from Deloitte’s consulting practice and ongoing mentoring from the firm’s wider team.
The business was formed by Phil Grady (pictured), Pearse Flynn and Martin Leonard to give lenders a more accurate understanding of consumers’ purchasing power. It works with 10 high street banks and four of the largest mortgage broker networks, while its platform is used by 60% of the UK’s personal insolvency market.
Mr Grady, CEO, said the support from Deloitte would help the business grow its technology team, with plans to recruit five software developers and engineers, as well as expand into North America.
“Winning this competition confirms that we’re doing something different, reaffirming that the spirit on which we built Castlight was sound,” he said.
Rich Hurley, partner at Deloitte Digital, added: “The quality of the candidates in this first year of the competition was very strong and it’s to Castlight’s credit that it finished top. The company stood out for the originality of its idea, its potential for growth, and the depths to which it can change the lending industry.”