Payment Expert’s ID Check: Payments Professionals offers insight from industry leaders and experts on how they got their start in the financial industry, from their early years in education, to how they have been able to climb the corporate ladder.
This week, Jayne Sibley, CEO of Sibstar, reveals her start in the fintech industry as a Founder and CEO, previously working for the BBC, and the idea that birthed Sibstar which ultimately led her to standing in front of investors for Dragons’ Den.
Where did you go to university and what did you study? What impact did this have on your current journey?
I began my journey at the University of Plymouth studying Business and Marketing, which set me on the path to a career in marketing. After graduating, I was introduced to FMCG by taking on the role of product manager at The Body Shop, before later moving on to the BBC.
It was here that I really built my marketing and communication skillset, working across various channels including BBC One, BBC Two and CBBC, developing campaigns for some of the network’s most iconic shows such as Blue Planet and Strictly Come Dancing.
After leaving the BBC to start a family, I joined my husband’s creative agency part-time, leading business development operations. However, it wasn’t until I started caring for my parents, both of whom were living with dementia at the time, that I took a step back and ultimately was inspired to create Sibstar.
After seeing my Mum constantly mismanaging her money, taking out £50 three times a day from the cash machine and giving it to strangers, I realised something needed to be done. I was determined to develop a product that would allow us to manage Mum’s money safely while still maintaining her financial independence.
My background in marketing – specifically working with target audiences while at the BBC – played a crucial role in shaping Sibstar; while I hadn’t worked within the payments industry before, I understood the need for a product that focused on real-world experience and community collaboration, both of which remain central to Sibstar’s mission today.
Were you part of any sports clubs or societies at university and has this influenced your educational and professional development?
Oddly enough, I was part of the powerboat society at university for a while! Not sure if it’s had any direct influence on my professional career and development, but I do think it’s important to put yourself out there and try something new, regardless of whether you have any previous experience or not – that’s definitely something I’ve carried with me throughout my life.
What was the first job you had in the industry and are there any lessons from this you still draw on?
Being a Co-Founder and CEO of a fintech startup has been my first role within the industry. As any first-time founder will tell you, there are so many lessons you have to learn when starting a business.
First of all, it’s a lot harder than you think it’s going to be!
My first real step into the payments industry was as the CEO of Sibstar, so I had to learn everything from scratch. As any first-time founder will tell you, there are so many lessons you’ll have to learn along the way. I googled endlessly, asked questions, and embraced the fact that I was self-taught. I truly believe my openness to learning has helped me get this far.
One of the key lessons I’ve learned is that building a business takes a lot longer than you think – and the process is far more complex than it seems from the outside. Startups come with all kinds of setbacks, delays, and challenges, but staying committed to your purpose is what carries you through. It’s easy to lose sight of your mission in the day-to-day struggles but reconnecting with that ‘why’ is what keeps you going.
Another key skill I’ve learned from being in this industry is that resilience and perseverance are vital, especially when raising investment. Rejection is part of the process, and you can’t take it personally. The key is to move on quickly and surround yourself with a trusted network of advisors and supporters who believe in you and your product.
Who was your biggest role model – inside or outside of your industry – who continues to inspire you in your current career?
Working with Sara Davies has been an incredible inspiration. She just has this infectious energy and unlimited optimism that you can’t help but be inspired by. Additionally, she is someone who has a very clear set of values and leads by example.
When she made the decision to step back from Dragon’s Den to return to her original crafts business and support her team, it showed the deep commitment she has to doing the right thing – both for the business and its employees. That level of integrity is something I deeply admire.
Louise Hill has been another incredible role model to have through Sibstar’s journey. She has stayed true to her mission of improving financial education in young people, taking her business global while always remaining very purpose-driven.
Having her on board as Non-Executive Director has been invaluable; she sees exactly where we are as a business and understands what needs to be done for the opportunities ahead. She’s someone who is always there to listen, give advice, and help make things happen.
When was your first big break in the industry? Why was this such a significant moment for you?
Appearing on Dragon’s Den was a defining moment for us. The exposure was astounding – not only did it help give us instant credibility (thanks to Sara and Deborah’s investments), but it helped introduce Sibstar to a much wider audience, opening doors to communities we hadn’t even anticipated.
Almost overnight we were reaching people who needed our solutions the most and having conversations with industry leaders who could help us scale. I never expected to feature on Radio 4, but that’s the power of moments like this.
Was there a moment you faced in the industry that really challenged you? How did you overcome this?
The biggest challenge so far has been finding that sheer resilience when things get tough. When we were first launching Sibstar, we faced multiple delays and unexpected obstacles that forced us to keep pushing back our launch. That frustration of being so close yet not quite over the finish line was hard, but we always kept pushing forward and problem-solving our way through it.
Raising investment as a female founder in fintech has also been a challenge. Female-led businesses contribute £105bn to the UK economy, yet they receive less than 3% of all venture capital funding.
I’ve had people deliberately poke holes in our plans, purposefully trying to trip us up during presentations, so you really have to develop a thick skin. It’s during these times that you need to lean on your support network – surround yourself with people who believe in you and your product and help you stay focused on the mission.
What are some of the skills you deem essential to starting in your industry and how have yours developed over the years?
Resilience is definitely number one. You need to get comfortable with hearing the word “no” over and over again and still keep pushing forward.
Being open to learning is also a crucial skill that has really helped me get to where I am today. Whether that’s asking questions, adapting based on feedback, or completely changing your approach to something – having an open mind and willingness to change is vital in this industry.
I’ve found that sharing my personal story and highlighting the real-world need for Sibstar has been one of our greatest strengths. People connect with authenticity, so don’t be afraid of sharing your experiences.
Lastly, what is some advice you would give to an aspiring person looking to get a start in your respective industry?
You don’t need to have all the answers. You don’t even need to have any experience in payments – I certainly didn’t! What you do need is a 110% belief in your idea. You need to believe with every pore of your body that your product is of value to others and can make a difference. Without that belief, it’s easy to struggle.
Start before you feel ready. Ask the questions, seek out mentors, and surround yourself with a network that believes in your product just as much as you do. My best advice for anyone out there would be to just go for it!
