BrokerIQ

BrokerIQ operate in the Fintech space and specialises in customer engagement for mortgage and insurance brokers.

What is your company’s mission, and what problem does it aim to solve?

BrokerIQ simplifies client engagement by replacing inefficient emails and paperwork with a secure, digital platform. Our solution enhances communication, boosts retention, and streamlines compliance for the insurance, mortgage, and wealth management industries.

What makes your company unique in its industry?

Unlike generic CRMs, BrokerIQ is built specifically for brokers and financial advisers, offering a secure digital wallet, two-way chat, and automated messaging to improve client relationships. Our platform reduces admin time, ensures compliance, and enhances client retention – all in one easy-to-use app.

How has investment(s) from Symvan Capital impacted your company’s growth?

Symvan’s initial investment was a major validation early on in the company’s journey and gave the resources and platform to build the concept out into something viable and scalable. It also brought other investors into the business, giving confidence to both institutional and angel investors to come on board. But it has been the fact that follow-on investment is such an integral part of Symvan’s investment approach that has really allowed us to grow, as they have continued to support us and invest in the business consistently over the last three years.

What key milestones have you achieved since receiving investment?

We have gone from having a small handful of pilot clients to now over [Joanne to supply figure] customers using the product. The technology itself has come on leaps and bounds since the first investment and the team has grown to [7?] people. We have brought on a fantastic Non-Exec Chair of the Board who has plenty of experience at the C-suite level at major international insurance firms. And most recently, we have expanded into the wealth management space, where we see tons of potential for further scale.

Beyond financial investment, what support has Symvan Capital provided that has been particularly valuable?

As first-time founders, it’s probably fair to say we didn’t know quite what we were getting ourselves into by leaving our jobs to embark on the startup journey. We’ve been incredibly lucky to have such a supportive network of advisers and investors in general, and Symvan have been at the heart of that. Their experience and guiding hand have been invaluable in keeping us on the right path, managing our expectations, and even just helping us stay motivated when things have been tough. Their willingness to get involved and do the heavy lifting when required has saved us on more than a few occasions, and is always informed by a view of founders as people rather than cogs in a money-making machine.

What challenges have you overcome with the help of Symvan Capital?

The company has had its fair share of challenges, some of which have genuinely threatened to turn us into one of the many startup failures that are so common in this space, some more acutely than others. We had quite major changes to the management structure, which we would not have known how to navigate without Symvan’s guidance.

There was a period where we had expected to have closed several bigger clients, but fell short of our forecasts. Symvan helped assure us that it was not an uncommon problem, worked with us to rebuild our forecasts, crucially, continued to fund us even. There was also a point where I was going through a lot of stress and was personally struggling, which could easily have caused us to close everything down, but a phenomenal network of support, Symvan included, helped us out of that position.