Snugg® wins place on Lloyds Banking Group Launch Innovation Programme

Scottish fintech and high growth start-up Snugg® has been chosen to join the 2022 cohort of the Lloyds Banking Group Launch Innovation Programme.

Run in partnership with FinTech Scotland, the Launch Innovation Programme offers ambitious fintech companies like Snugg® the chance to run a proof of concept in partnership with Lloyds Banking Group. Sixteen fintech firms from across the UK and Europe have been selected to take part in the programme this year.

The Launch Innovation Programme focusses on three key strategic challenges facing Lloyds – achieving sustainability goals, supporting colleagues in a post-pandemic world, and improving customer’s financial lives. With a mission to make energy efficient homes simple and affordable for everyone, the Snugg® application to join the programme focused on sustainability and helping the financial lives of Lloyd’s customers.

Private sector finance from banks like Lloyds is going to play an increasingly important role in the net-zero transition over the coming years. Only one in eight of the 17 million privately owned homes in the UK currently meet the energy efficiency standards needed to reach net-zero by 2050. The Snugg® platform plans to make the process of making energy efficiency changes to homes simple. Using sophisticated data science, it will develop a tailored plan and provide users with access to the grants, green finance and trusted installers to make the sustainable home improvements they need.

The fintech companies taking part in the programme have ten weeks to refine and test their innovative solutions to the challenges set by Lloyds. Working in collaboration with Lloyds, each firm has direct access to sponsors and mentors in the bank, as well as business development support, clinics and externally run business masterclasses.

Co-Founder and CEO of Snugg®, Robin Peters, said: “Taking part in the Launch Innovation Programme gives us an incredible opportunity to test our home energy efficiency platform with one of the UK’s biggest banks.

Over the course of ten weeks, the programme gives the selected participants access to business leaders, designers, industry experts and mentors. We’re delighted to have been selected to take part in the programme which we believe will help take Snugg® to the next level.”