Our partner REGnosys, a London-based fintech startup, is trying to break the mould by prioritising representation early on. We spoke with CEO and Founder, Leo Labeis, and his team to find out more about their experiences and what advice they'd give other startups wanting to do the same.

It’s no secret that the tech industry struggles with diversity and inclusion, particularly when it comes to gender representation. The most recent statistics show just 26% of the UK tech workforce are women, compared to 50% of the overall working population. In smaller businesses, the issue is even more pronounced: only 13% of startups and SMEs are led by women.* These businesses account for over 50% of UK turnover and 60% of employment.

At the start of 2022, REGnosys had no women in the team. A year later, women made up nearly a third of the company – an impressive shift that included new hires across engineering, operations and project management. Although the number of women has continued to grow, the team has also expanded with additional male hires, meaning the percentage of women has fluctuated as they scale. REGnosys remains committed to continuing its progress. They’re a clear example of how challenging – and important – it is to maintain representation as your team scales.

We spoke to CEO and Founder, Leo Labeis, and his team to understand their approach and what others can learn from it.

1. Focus on building a representative team from the outset

“I try to keep in mind the wise words of advice that I received early on as part of an accelerator programme when REGnosys was just four people. When challenged on diversity, most founders, myself included, would argue that in the early stages, attracting the best talent quickly was all that mattered - great if it's diverse, but DEI was kind of a ‘luxury’ to be afforded later on. The reply came as follows:

‘You're wrong. If you wait until you're 20 people to pay attention to diversity, then candidates from diverse backgrounds are going to look at your company, see a narrow pool, and not want to join you.’

That advice has stuck with me, and the payoff justifies our efforts. Since we’ve been able to diversify our recruitment, the positive difference it’s made on our team and business performance has been measurable.”

2. Ensure recruitment processes are proactive and targeted

So how did REGnosys begin turning things around?

“First, we recognised that gender diversity is a huge issue that needed to be addressed as a business priority. Then, we proactively worked with recruiters to articulate our hiring drive so they could reflect that in their sourcing. Once we started diversifying our hiring, we also implemented a referral programme so that women could recommend other women – a small change that’s had a powerful ripple effect.”

3. Keep improving at all levels of the organisation

“We’re not yet able to offer the full range of perks that larger companies have, such as generous healthcare coverage. We also still have work to do to progress our representation at the company's executive level. We’re continuing to work on these areas, and by remaining clear-eyed about the challenges and weaving them into our business priorities, we can balance the scales.”

4. Share the unique benefits of working for a startup

Payal Khanna, Financial Software Engineer, was the first woman REGnosys hired. She had previously worked for large fintechs and consultancies but has embraced the startup environment - and encouraged other women to join her.

“I like working in a startup like REGnosys because it gives me an opportunity to work with the CEO on a daily basis. I have a good rapport with him, and the company culture is very laid-back and very friendly.”

5. Shout about what you’re doing to improve diversity and inclusion

Gabriela Coropcianu, Operations Manager, was drawn to REGnosys by their open approach to improving their representation.

“When I first started, I thought it was absolutely amazing that they were already working towards better diversity and inclusion at such an early stage of their journey.” This reflects studies that show 86% of women are seeking employers with clear diversity and inclusion strategies.**

6. Partner with organisations that can help you

In 2023, Leo reached out to Next Tech Girls to support broader industry change and go beyond internal goals. Since partnering with us on employer branding and outreach, REGnosys has hired more women into engineering and operations roles. The percentage of women in the company has fluctuated, as is often the case in small teams, and currently stands at 28%. While that puts them above the industry average, they know it’s not good enough. REGnosys remains focused on continuing to improve representation at all levels, recognising that true inclusion requires sustained effort as the company grows.

Leo and his leadership team are an excellent example of allyship in action and going beyond performative gestures to make long-term, strategic change. Progress isn’t always linear, especially in small teams where each hire can significantly impact representation metrics. But their journey shows that by embedding inclusion from the beginning and sticking with it, real change is possible.

We’re proud to partner with REGnosys and excited to see them continue building on this work – and to help other startups follow their lead.

* Source: https://carta.com/data/gender-gap-by-sector-2023/#

** Source: https://www.pwc.co.uk/assets/pdf/the-pwc-diversity-journey-uk.pdf

Interested in Partnering with Us? 

Next Tech Girls can help you attract more underrepresented talent through our community of current and aspiring women in tech. Find out more about the benefits of partnering with us, or get in touch to learn how we can help you better represent your users and outperform your competition.