How Inicio.AI Secured Investment and Expanded in the West Midlands

Founded in 2021, Inicio.AI is a Fintech startup based in Coventry, driven by a mission to simplify financial assessments through innovative technology. Their flagship product, Budgie, acts as a friendly, conversational AI assistant that helps users navigate financial forms with ease and uncover potential benefits. With regulatory demands becoming ever more stringent, more companies are turning to AI and automated solutions to efficiently meet compliance standards without adding friction for customers.

Like many early-stage startups, Inicio.AI faced the challenge of securing additional capital to match increasing operational demands. Securing funding from the right backers can prove difficult for a scaling business, particularly when the window for critical growth is tight.

With a desire to secure necessary funding to drive development and ambitions, the company needed strategic guidance, strong partnerships, and timely connections to propel it through an essential period of growth.

In their search for a strategic ecosystem to accelerate growth, Rachel reached out to the West Midlands Growth Company (WMGC) for support. Early discussions focused on alignment, with the WMGC gaining a clear understanding of Inicio’s long-term vision and objectives. This collaborative approach led to bespoke introductions to the region’s robust investor community, resulting in key opportunities and collaborations that accelerated Inicio’s momentum.

Introduction to Future Planet Capital Regional (formally known as Midven) and Investment Opportunities: Facilitated introductions to region’s investor network, resulting in Inicio.AI’s participation in TechWM’s One to Win pitch competition, which led to a £1.35 million funding round.

Client Acquisition and Expansion: One of WMGC’s most valuable contributions was connecting Inicio.AI with Moneyline, a financial services firm looking to expand in the West Midlands. This introduction not only helped secure a high-value client but also provided valuable market validation for Inicio’s technology, bolstering their commercial positioning and trajectory within the West Midlands.

Funding Success and Strategic Growth: With initial funding secured, Inicio.AI went on to raise a total of £2.6 million, enabling the company to expand its presence across the region’s financial services market. Scaling operations meant that further resources could be re-allocated to the development of its innovative AI offering, providing clients with a more meaningful user experience from start to finish.

Working alongside the WMGC and the West Midlands’ dynamic tech ecosystem, Inicio.AI has transitioned from a startup to an award-winning innovator with significant funding and an expanding client base. The firm’s involvement in the One to Win Pitch Competition cemented its position within the region’s growing Fintech community. The visibility not only enhanced industry confidence in Inicio’s technology but also opened the door to further acclaim.

In 2025, KPMG UK named Rachel Curtis their Tech Innovator of 2025, whilst the company would go on to collect the Service Innovation award at the Scotland IS Digital Technology Awards – a testament to Inicio’s upwards trajectory fuelled by investment and commercial partnerships.

When choosing a location to base their business, the West Midlands stood out to Inicio.AI.

With a strong network of startups, investors, and industry players, the region is a hub for Fintech innovation. Fuelled by global powerhouses like Goldman Sachs, PWC and HSBC, the West Midlands is home to the largest Fintech community outside of the capital, with over 11,000 professionals seeking transformative technologies supplied by ambitious start-ups like Inicio.AI.

Supplementing the region’s existing community of Fintech professionals are leading academic institutes like Coventry University and the University of Warwick, which foster a diverse and highly skilled graduate talent pool.

This wealth of next-gen talent, coupled with the region’s dynamic start-up culture, is resulting in collaborations that are fuelling investor confidence. A confidence evidenced by the expanding client reach of organisations based in the West Midlands.

Situated in the heart of the UK, organisations have long taken advantage of the West Midlands’ strategic position. With well-established infrastructure supporting both national and international connectivity, and upcoming developments such as HS2, firms like Inicio.AI are perfectly located to drive new business and client ventures from the West Midlands.

Looking ahead, Inicio.AI will continue to innovate and scale its offering, with plans to expand its client base and enhance its AI-powered platform. The ongoing support from WMGC ensures that Inicio.AI remains well-connected to emerging opportunities, new funding sources, and key industry networks within the region.

With investment secured and new clients on board, Inicio.AI is now positioned for sustained growth as it continues developing its conversational AI-driven assessment platform. WMGC remains a key regional partner, ensuring the company stays connected to emerging opportunities and networks. As the team expands, Inicio.AI is set to play an increasingly significant role in the West Midlands’ growing tech and fintech ecosystem.