34-year-old Samantha Fogerty is chief operating officer at fintech company Payl8r, based in Manchester.
Fogerty, who first trained as a teacher, gave up a successful career in recruitment to run the Manchester-based buy now, pay later solution (BNPL).
Balancing a busy life as a female tech entrepreneur, Fogerty shares an insight into her life and career journey…
How did you first get into your industry?
I feel my journey into the industry traces all the way back to my early days on my mum’s market stall. It was there where I absorbed invaluable lessons on selling products and the intricacies of building and managing a business from the ground up. However, my journey into the fintech sector took a more specific turn when my close friend, Louis Alexander, who now serves as the CEO of Social Money, presented his solution to millennial finance to me and invited me to join the venture.
It was back in 2016, I was 28 years old and my journey had taken me from university to teaching and then into recruitment, but neither quite hit the mark for me. Louis knew me well and recognised my passion and ability to drive a business forward. At the time, Payl8r was called the Student Finance Company, and was a very small team in its early phases.
I knew from my own experience that it was hard for millennials to borrow money, I was earning a good salary in my mid-twenties but couldn’t access loans or credit cards. There weren’t any lenders operating in the 18–30-year-old market and this was a key driver in my decision to take the plunge into this new start up. It definitely felt like a leap of faith at the time as I hadn’t come from a finance background. I’m living proof that there isn’t a ‘one-size-fits-all’ route into the finance industry.
What do you love about your job?
It’s a blend of fun, learning, and staying ahead with tech and of course finance. Every day is incredibly diverse, and I find a lot of fulfillment in that. Each day is a new opportunity for growing and learning – I thrive on the freedom to make big decisions and watch them transform our business. I constantly have to evolve and upskill myself across multiple areas including API integration, financial regulation, risk management and underwriting. Immersing myself in to the fintech industry has been quite a journey.
But most of all, I love that responsible lending is a fundamental value at the heart of Payl8r. Being able to lend responsibly is something that I’m really proud of. For me, being part of Payl8r from its very early stages, it has been like nurturing a seed into a tree- it’s immensely rewarding.
Who – or what – has inspired you in your career?
My inspiration predominantly comes from my mother. After a tough divorce that meant the loss of her joint business with my father, she didn’t indulge in self-pity. Instead, she fought back with grit and grace. Determined to provide for me and secure our future, she started anew, initially working the market stalls.
From there, her unrelenting will led her to own a wholesale business, and she didn’t stop there — she expanded into property investments and holiday lets. Her journey of resilience and dedication not only gave me the best start in life but also instilled in me the values of hard work and perseverance, despite the hand dealt to you. These skills set me up and I believe is why I am where I am today, she’s my inspiration and shaped the foundations of my career.
What are the biggest challenges about your job?
Delegation; it’s no small feat and so often overlooked. Learning to let go, to trust your team to handle tasks you’d normally take on, is an exercise in trust and leadership that can be quite tough. While it’s tempting to want to try and be everywhere all at once, the growth — both personally and professionally — comes from entrusting your team and stepping back to see the bigger picture.
However, the biggest test in my role is mastering the art of leading from above the fray — working on the business while keeping the day-to-day operations ticking along. I’ve had to master the skill of leading from a strategic perspective — engaging in the business’s overarching objectives while ensuring the smooth progression of day-to-day operations. It’s akin to being a skilled juggler, with numerous crucial tasks in the air simultaneously.
What skills have been the most crucial to you succeeding in your career so far?
A cocktail of personality and people skills, resilience, and a hunger for success. I’m driven, adaptable, and I’ve got a knack for making sense of complex stuff. I’d say the entrepreneurial skills I’ve learnt from a young age working alongside my mother has been a driving force which has propelled me through the highs and lows that I‘ve had over the years.
What was your first salary and what could someone getting into the industry expect to earn nowadays?
I began my professional journey in the world of education and recruitment, with an initial salary of around £22k. For those eyeing a future in fintech, the paths and salary ranges are huge – it truly varies based on the role you aim for. If you’re aiming for a six-figure salary, the fintech sector is ripe with opportunity.
What education or training would be most useful for someone looking to follow your career path?
I’m a big believer in life’s the best teacher. I didn’t come from a finance background, I’d been to university but I didn’t have a degree in a financial discipline. I even had my struggles with maths and dyslexia, but it’s the ‘doing’ and ‘go-getting’ attitude that counts. Wherever I went, I worked hard and I cared about what I was doing. So if you apply yourself and you’re eager to learn, I believe you can really get yourself in any room you put your mind to.
For those considering a career switch, online courses are an excellent starting point. Immersing yourself in relevant reading and establishing connections with industry professionals provides invaluable insights and a sounding board for collaborative learning. A combination of practical experience, continuous learning, and networking can open doors to any career you choose to really pursue.
What advice would you have for someone looking to follow your path?
Embrace risks wholeheartedly. Embracing mistakes, especially in the initial stages, transforms them into stepping stones toward success. Navigating the journey and facing uncertainties can be challenging, but these experiences shape your professional identity. Stay open to unexpected opportunities and remain adaptable.
Lastly, strive to be memorable—engage others, exude confidence, and approach your mission with unwavering enthusiasm. When I began my journey, I wasn’t certain where it would lead, but I maintained faith in myself and trusted my intuition. It definitely paid off.
