Authored by Ian Stirling, Deputy CEO, Streets Consulting
I recently had the privilege of attending the launch of the “Founders Unfiltered 2” report, and it was a refreshing departure from the usual industry noise. In a sector often dominated by headlines about valuation caps, regulatory hurdles, and interest rates, this event shifted the focus to the engine room of the UK ecosystem: the people.
Produced by Ninety Two Ventures and Sam Shaw Media, in partnership with EY and Innovate Finance, the report offers a candid look at the reality of building a fintech in 2025. It moves beyond standard financial metrics to explore the people agenda: the cultural and leadership frameworks that determine whether a startup scales or stalls.
The insights are grounded in a robust methodology that combines a quantitative survey of 45 UK fintech founders with in-depth qualitative interviews. The respondents represent a cross-section of the industry, with the majority at the Seed/Angel stage, navigating the “messy middle” of growth.
Here is a deep dive into the six key themes that emerged from the report.
1. Culture is an “Operating System,” Not Internal Fluff
One of the most powerful takeaways from the launch was the redefinition of culture. For years, culture in startups was synonymous with ping-pong tables and stocked fridges. This report dispels that myth entirely.
Founders now view culture as a strategic operating system, a necessary framework that allows small, fast-moving teams to make autonomous decisions, recover from mistakes, and treat one another with integrity. In a hybrid world, where you can’t rely on osmosis to transfer values, culture becomes the mechanism for trust.
The data supports this: 48% of founders cited culture as a key driver for team engagement. As one founder, Craig Forsythe of GiftRound, noted, “Culture isn’t about slogans; it’s about how fast people learn together when things go wrong”. There is a decisive rejection of autocratic management; founders are prioritising empowerment and openness to drive results.
2. Purpose is the New Paycheck
We are operating in an environment where cash is tight, and runways are under scrutiny. In this context, the report highlights that mission has superseded salary as the primary lever for talent attraction.
The survey data is stark: Purpose (53%) and Culture (48%) rank significantly higher than Salary (3%) as the primary motivators for team members. Founders are finding that high-calibre talent is willing to bet their careers on a problem worth solving.
However, the discussion at the launch was grounded in pragmatism. Founders acknowledged that purpose cannot exist in a vacuum. As the report notes, “Without a commercial business model, eventually the company dies, meaning the purpose dies with it”. Solving the world’s unbanked and underbanked, for example, sounds visionary, noble and altruistic. But a vision without a strategy is just a dream. The winning formula is in balancing these hooks: the mission and the commercial discipline required for survival.
3. The Shift from Commander to Coach
Perhaps the most significant evolution identified in the report is the transformation of leadership styles. The archetype of the command-and-control CEO is fading, replaced by the networked leader who prioritises coaching, collaboration, and vulnerability. Crucially, the network leader hires individuals fit for purpose, who are empowered to carry out their specialist roles.
Founders are increasingly relying on a two-way flow of mentorship, where they learn as much from technically fluent younger hires (Gen Z) as they teach them.
4. Hiring for Attitude, Not Just Aptitude
Recruitment in early-stage fintechs remains fluid and often opportunistic. The report describes a landscape of organic hiring, where roles are shaped around the specific individual rather than a rigid job description.
Founders are prioritising attitude, curiosity, and adaptability over traditional credentials. This makes sense in a startup environment where the job you are hired to do today might change completely in six months. In terms of impact, the data shows that Product and Technology roles have the largest positive effect on early-stage businesses (51%), followed distantly by Marketing and Commercial roles (16%).
5. Tech: The Hygiene vs The Apprentice
The report identifies a fascinating split in how technology is viewed within the talent stack. Tools like Slack, Google Suite, and Asana are no longer seen as tech; they are basic hygiene, the digital air that distributed teams breathe.
On the other hand, AI is viewed as an apprentice. While founders are curious about using AI for drafting job descriptions or screening CVs, it is not yet trusted for nuanced tasks like motivating people or making final judgment calls.
Crucially, the importance of technology fades as you move down the talent funnel. Tech is rated as very important for Identification and Attraction (74%), but its importance drops significantly at the Exit stage (29%). When it comes to retaining staff or managing difficult departures, human connection remains paramount.
6. Resilience in the Face of Fundraising
Finally, while the report focused on talent, it couldn’t ignore the capital environment. The IPO or bust mindset appears to be dead. A significant 64% of respondents stated they do not consider an IPO likely within the next five years, with many preferring to stay private longer to retain control and culture.
Fundraising doesn’t just stress founders. It distorts time allocation, energy, and leadership presence. The best founders don’t hide that pressure; they design around it. This valuable stress forces founders to sharpen their strategy, proving that the relationship between founder and investor is evolving into a partnership of resilience.
The report concludes with a vital call to action for all founders, which resonated strongly with the room at the launch: Treat your people infrastructure as seriously as your technical infrastructure.
To scale effectively, the report urges leaders to:
As the UK fintech sector matures, the companies that succeed will be those that view their people strategy not as HR administration, but as the core driver of value creation.
The future of work is human
Somewhere between the pitch deck, the board pack, and the latest people survey, it’s easy to forget that companies are still built by humans – usually tired ones, often figuring it out in real time.
The irony is that as fintech matures, the tools get sharper, the regulation tighter, and the stakes higher. The work becomes more human, not less.
So yes, I’ll probably still grab a Coke from an overstocked pantry fridge, ignore the ping-pong table, and sit down to write the next piece. But if this report proves anything, it’s that culture isn’t what’s on the walls; it’s what happens when things go wrong, and no one’s looking.
If you are interested in reading the full data set, I highly recommend checking out the “Founders Unfiltered 2” report.
