Flagstone

One of the UK's largest cash deposit platform; giving businesses, charities and individuals access to hundreds of market-leading rates from 40+ banks through a single application.
Flagstone

The story so far

Andrew was trying to manage his savings and realised how incredibly complex moving money from one savings account to another was. So, starting as an idea discussed over coffee at a kitchen table, he and his friend Simon had a vision to revolutionise the cash deposit and savings market. At a time of declining interest rates and global financial crisis putting the spotlight on risk diversification, they saw a need for a new way of protecting cash which offered more return on investments. This lead to the inception of Flagstone in 2014, a platform that allows users to open multiple deposit accounts and spread their money around using just one application.

OMERS Ventures lead partner on the deal, Harry Briggs was introduced to Simon in November 2019 through Non-Executive Director, Timo Boltd after having previously invested in his company, Gusto. He was then introduced to the rest of the team in February 2020 when they were fundraising and completed the investment despite stress in the market due to COVID-19 in April this year. Flagstone is now the number one savings platform in the UK, with over 40 banks offering products on its platform and partnerships with Revolut and St James’s Place.

Flagstone-logo
Themes

Fintech

Founded

2013

OMERS First Investment

2020

Company Information
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ABOUT THE FOUNDER

Andrew Thatcher

Andrew Thatcher, Managing Partner, founded Flagstone in 2013 after a 15-year career in Banking and Hedge Funds working for Merrill Lynch, Citigroup, GLG Partners (Principal, Co-Head of UK) and MAN Group (Executive Director, Asia) in the UK and Hong Kong. He has significant experience of a wide range of financial instruments and has successfully managed teams to develop and launch a number of products for both institutional and retail clients.

ABOUT THE FOUNDER

Simon Merchant

Simon Merchant, Managing Partner, started his career with ten years at Morgan Stanley as an investment banker in Europe and the United States. In 2000, he cofounded and built a market-leading financial technology business that was sold to a US public company in 2005. Since then, Simon has worked in the private equity market in Sub-Saharan Africa and as an entrepreneur and investor in the European media and technology market.

The OMERS team

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Harry Briggs
Managing Partner

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