Scaling Success in FinTech
The latest episode of FinTech Focus TV, hosted by Toby Babb, features an in-depth conversation with Tobias Gruber, CEO & Co-Founder of Amplifi Capital, and Murtaza Kanchwala, Chief Technology Officer at Amplifi Capital. This engaging discussion explores the challenges of scaling a financial services business, the critical role of data and technology in financial decision-making, and the transformative impact of AI on lending and credit markets.
As a leading FinTech recruitment business, Harrington Starr understands the importance of talent acquisition in the rapid evolution of financial technology companies. This episode offers valuable insights into recruitment, scaling strategies, AI-driven automation, and the future of FinTech innovation.
Building a Financial Powerhouse from the Ground Up
Tobias Gruber shares a compelling backstory on the formation of Amplifi Capital. Before launching the company in 2014, he spent nearly 30 years in investment banking, working in Zurich and London. His discovery of the UK’s credit union sector was a pivotal moment, sparking the idea to modernise and expand this often-overlooked part of the financial services industry.
Credit unions, though a well-established part of financial systems in countries like the United States and Ireland, lacked similar prominence in the UK. Amplifi Capital identified an opportunity to provide non-prime consumers with better access to credit. Recognising the regulatory gaps and inefficiencies within the credit union space, Gruber and his team sought to bring technological innovation, capital investment, and risk management expertise to the sector.
The UK Credit Union Landscape
Many UK credit unions operate under a regulatory framework set out in the 1979 Credit Union Act, making them significantly smaller than their US counterparts. While the government had invested in technology solutions for credit unions, many initiatives failed due to a lack of commercial expertise and strategic vision. Amplifi Capital took a different approach, focusing on both technological development and financial restructuring.
To achieve its mission, the company acquired and recapitalised struggling credit unions, helping them transition into modern lending institutions. However, this journey was far from straightforward, requiring significant adaptation to regulatory frameworks, capital structures, and digital transformation.
The Complex Funding Model
As with many FinTech startups, obtaining investment for Amplifi Capital was a major hurdle. Unlike traditional financial institutions, credit unions function as mutual organisations, meaning they cannot raise capital in the same way as banks or venture-backed startups. This made explaining the investment model particularly challenging.
Investors were hesitant to commit, given the complexity of a structure where 99.9% of the capital comes from Amplifi, yet it holds only a single vote among hundreds of thousands of credit union members. This model required careful governance, trust-building, and strategic positioning.
The Power of Long-Term Investor Relationships
Eventually, persistence paid off. Tobias Gruber explains that their eventual investor had been following Amplifi’s progress for 18 months before making a financial commitment. This highlights the importance of building long-term relationships, proving credibility, and demonstrating sustainable business growth.
This success allowed Amplifi Capital to transition from a startup phase to a scale-up phase, bringing with it new challenges in recruitment, technology expansion, and risk management.
The Challenge of Rapid Expansion
Once investment was secured, Amplifi Capital grew at an extraordinary pace. The company expanded from 50 to 300 employees in just 18 months, placing intense pressure on technology systems, hiring processes, and operational structures.
As Murtaza Kanchwala highlights, when a company experiences such rapid growth, everything must evolve simultaneously. This includes IT security, governance, internal processes, and recruitment strategies. Scaling at this speed often leads to unintended consequences, particularly in overhiring, inefficient workflows, and increased operational complexity.
Recruitment and Talent Acquisition in FinTech
A key challenge was attracting and retaining top FinTech talent. Initially, Amplifi Capital relied on headhunters to fill roles quickly. However, with such rapid growth, external recruitment costs became unsustainable. To combat this, the company built an in-house recruitment team, streamlining hiring processes and ensuring a consistent pipeline of FinTech professionals with expertise in technology, data, and financial services.
At Harrington Starr, we understand the difficulties of hiring in a fast-paced FinTech recruitment environment. The industry demands specialised skill sets, and companies must adapt their recruitment strategies to attract the best talent while managing costs and maintaining operational efficiency.
Overcoming the Pitfalls of Over Hiring
As Toby points out, rapid hiring often leads to overexpansion, forcing businesses to make difficult decisions. Murtaza Kanchwala acknowledges that in hindsight, a slower, more measured growth strategy would have been preferable. Expanding too fast can strain financial resources, team dynamics, and technological scalability.
Once Amplifi Capital stabilised, the leadership team had to make difficult staff reductions. Downsizing is always a challenging and emotional process, but ultimately, it was necessary to create a sustainable, long-term business structure.
The Role of AI in Financial Decision-Making
One of the most compelling discussions in this episode is how AI and data analytics are shaping the future of Amplifi Capital. Rather than implementing isolated AI use cases, the company built an internal AI platform that integrates across multiple business functions, including credit decisioning, risk management, and fraud detection.
Revolutionising Financial Services with AI
A particularly exciting innovation is the real-time LLM (Large Language Model) prediction engine, which selects the best AI model for different tasks. This groundbreaking approach allows Amplifi Capital to improve financial decision-making and customer engagement in ways previously unattainable.
AI in FinTech: Challenges and Opportunities
As Toby highlights, AI is more than just a buzzword—it is fundamentally transforming financial services. However, AI adoption must be approached strategically. Murtaza Kanchwala stresses that while AI can dramatically enhance efficiency and productivity, businesses must balance innovation with regulatory compliance and risk management.
A More Measured Approach to Expansion
Having navigated hypergrowth and stabilised operations, Amplifi Capital is now shifting its focus to sustainable, long-term development. The company aims to become a dominant player in non-prime consumer lending, expanding its offerings in personal loans, credit cards, and car loans.
Unlike the aggressive expansion of the past, future growth will be deliberate and strategic. IT processes have matured, with structured release cycles, testing environments, and improved risk frameworks ensuring long-term stability.
Navigating FinTech’s Evolving Landscape
As financial services become increasingly tech-driven, companies must embrace AI, automation, and digital transformation while maintaining governance, security, and compliance. The conversation on FinTech Focus TV reinforces the importance of talent, innovation, and long-term vision in a rapidly evolving industry.
Key Takeaways: Scaling a FinTech Business with the Right Talent and Strategy
This episode of FinTech Focus TV underscores several critical lessons for FinTech leaders, entrepreneurs, and investors. Scaling a FinTech business requires a delicate balance between innovation, risk management, and recruitment. Finding the right technology professionals, data specialists, and financial services experts is crucial for sustained success.
At Harrington Starr, we specialise in FinTech recruitment, helping businesses navigate the complexities of hiring top-tier technology talent. Whether you are a FinTech startup or an established financial institution, our expertise ensures you can attract the right people to drive digital transformation and financial innovation.
This episode of FinTech Focus TV with Tobias Gruber and Murtaza Kanchwala of Amplifi Capital perfectly illustrates the dynamic challenges that growing FinTech companies face—particularly in the areas of talent acquisition, scalability, and technology transformation. For us at Harrington Starr, a leading FinTech recruitment company, the conversation is a direct reflection of the value we bring to businesses operating in this fast-paced, highly regulated sector.
As Amplifi Capital moved from a startup to a scale-up and into a more mature organisation, the critical role of recruitment became clear. Growing from 50 to 300 employees in just 18 months created enormous pressure to find the right talent, quickly and cost-effectively. The decision to build an internal recruitment team mirrors what we advocate to our clients—sustainable hiring strategies tailored to long-term growth. At Harrington Starr, we work closely with FinTechs at every stage, from early-stage innovators to scale-ups and global leaders, ensuring they have access to a pipeline of high-quality, culturally aligned candidates.
The discussion around overhiring, operational complexity, and the importance of hiring for the right phase of growth is a conversation we regularly have with our clients. Recruitment isn’t just about filling roles—it’s about understanding business models, market demands, and the nuances of scaling. This episode reinforces our belief that FinTech hiring requires specialist knowledge, speed, and precision—qualities we pride ourselves on.
Moreover, the emphasis on AI, data, and digital transformation further highlights the demand for niche skills—areas where we have built deep expertise. The journey of Amplifi Capital is a case study in why having the right people in the right roles at the right time is not just important—it's business critical. That’s where Harrington Starr comes in.
