Home Business NewsBusinessBusiness Growth News Wrexham-based Chetwood Financial named on Wales Fast Growth 50

Wrexham-based Chetwood Financial named on Wales Fast Growth 50

by LLB Reporter
25th Aug 23 5:57 am

Wrexham-based Chetwood Financial has been named on the 2023 Wales Fast Growth 50 list.

The list celebrates the 50 fastest-growing firms in the Welsh economy, championing high-growth, home-grown businesses that make a significant contribution to jobs and wealth creation.

Founded in 2016, Chetwood is a digital bank on a mission to use technology to make people better off. It is the second year in a row that the company has featured on the Wales Fast Growth 50.

As well as making the overall top 50 list, Chetwood has also been shortlisted for the fastest-growing financial services firm in Wales, and the fastest-growing firm in North Wales, which it won in 2022.

The Chetwood team has grown by 93 people over the past 12 months. Its turnover increased by 255% in the same period.

Chetwood has four consumer products: LiveLend, BetterBorrow, SmartSave and Wave. Each was created to serve distinct customer segments, using technology to take time, complexity, and friction out of the process of accessing new financial products.

“We are delighted to be named in the Wales Fast Growth 50 for the second year running,” said Chetwood’s founder and CEO, Andy Mielczarek. “We are proud to be a digital bank based out of Wrexham, and awards like this offer a timely reminder that we’re doing our bit to serve consumers and also boost the Welsh economy.

He continued: “The past 12 months have thrown into focus the need for smarter, faster, and more agile banking products. The cost-of-living crisis has put millions of UK households under great financial pressure. Meanwhile, sadly, despite the base rate rising significantly, many high-street banks have not done enough to pass on better interest rates to savers.

“We exist to provide consumers with products and rates they cannot find on the high street, and this has underpinned another year of strong growth for Chetwood. But there is no room for complacency, and we will strive to improve further, ensuring Britons can benefit from our market-leading products.”

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