Former EU commissioner joins fintech start-up W1tty ahead of planned launch
Lord Jonathan Hill, the former EU commissioner for financial services, is joining the advisory board for UK-based financial services start-up W1tty ahead of its planned launch in Europe later this year.
Lord Hill recently led a UK government review of stock market listings for UK businesses, which aims to attract more fintechs to float on the London stock market.
The former leader of the House of Lords joins fellow peer Lord Chadlington and former CEO of Mastercard International Gene Lockhart on W1tty’s advisory board.
Lockhart has previously worked at financial services firms including Midland Bank, First Direct and Metro Bank in the UK and more recently Brazil’s Nubank and First Republic Bank in the US.
W1tty’s finance app is set to launch in Poland and Lithuania this autumn after the company secured an Electronic Money Institution (EMI) licence for Lithuania as well as full passporting rights to operate across the European Economic Area (EEA).
The firm has also applied for an EU consumer credit licence and an EMI licence for the UK as it looks to expand across Europe.
The app will predominantly be targeted at Generation Z users and other young people starting their first jobs and building their careers.
It will include services such as finance plans, multiple accounts, money transfer and financial education content.