When Prince Uchenna Chukwu landed in the UK as a migrant, he didn’t expect that buying a simple mobile phone on contract would be impossible. “The store clerk told me I didn’t have enough credit history,” he recalls. “That’s when it hit me, you need credit to get credit.”
For millions of ethnic minorities in the UK, that paradox is a familiar one. Despite stable incomes and responsible financial behaviour abroad, many find themselves locked out of the UK’s credit system invisible to lenders, invisible to opportunity.
According to industry estimates, more than 12 million ethnic minorities in the UK face barriers to mainstream financial products due to low or non-existent credit scores. In response, around 2.5 million people turn to traditional savings circles — known across cultures as ajo, esusu, or tanda — where communities pool money, lend, and borrow based on trust rather than algorithms. These systems work, but they’re offline, unregulated, and risky. And that’s where Prince and his team saw an opportunity.
A Fintech Rooted in Culture
Maufin Money is a UK-based fintech startup on a mission to merge cultural trust networks with modern financial infrastructure.
“We’re building a bridge between the old and the new,” says Prince. “At Maufin, we’re digitising community lending models that have worked for generations — and connecting them to regulated, FCA-compliant systems.”
Maufin’s platform will let users participate in verified community savings groups online, while also contributing to their credit history through alternative data points such as rent payments, utility bills, and group contributions. The startup is also partnering with credit rating bodies to create fairer, culturally sensitive scoring models that better reflect how diverse communities manage money. On top of that, the company is developing an AI-powered financial learning hub to improve literacy and decision-making for individuals and small businesses — a move Prince says is “as much about empowerment as access.”
Authenticity as a Competitive Edge
What sets Maufin apart in an increasingly crowded fintech landscape is authenticity. Unlike many startups trying to “disrupt” inclusion from the outside, Maufin’s founding team is solving a problem they’ve personally lived.
“We understand what financial exclusion feels like — not as a statistic, but as a daily experience,” Prince says. “That perspective shapes how we build, how we communicate, and how we measure impact.” This user empathy seems to be resonating. Out of more than 290 applicants, Maufin Money was selected as one of 55 semi-finalists for Scottish EDGE 26, one of the UK’s leading entrepreneurship competitions. The company also recently joined Venture Forward Edinburgh by Firstport, gaining support to scale its community-driven finance model.
The Bigger Picture
For Prince, these wins are validation — but not the finish line. He believes the conversation around financial inclusion needs to evolve beyond access to banking apps and credit lines.
“Inclusion isn’t just about access — it’s about dignity, trust, and belonging,” he says. “If we’re serious about a fairer financial system, it has to reflect the diversity of the people it serves.”
As the UK’s fintech ecosystem matures, Maufin Money represents a growing wave of startups building from community rather than for it — turning cultural familiarity into technological innovation. Or as Prince puts it, “Innovation doesn’t always start in a boardroom. Sometimes, it starts with people who refuse to accept exclusion as normal.”
About Maufin Money
Maufin Money is a UK-based fintech startup bridging cultural trust networks with modern financial systems. Through community-powered lending, alternative credit scoring, and AI-driven financial literacy, Maufin aims to redefine financial inclusion for minority communities across the UK
