Did you know one of the richest Black women in the UK started her business from a kitchen table with no external funding? Valerie Moran’s journey from Zimbabwe to co-founding a €327 million fintech company is a powerful story of grit, resilience, and breaking stereotypes.

Early Life and Foundations

Valerie Moran’s story begins in Zimbabwe, where she was born into a family of five children in 1975. Her upbringing was steeped in entrepreneurship—her mother was a beautician, and her father ran several businesses, including a bakery, a school uniform factory, a butcher’s shop, and property investments. This environment instilled in her a strong work ethic and a deep appreciation for education, values that were further reinforced by her extended family, many of whom were university professors and deans.

Valerie excelled academically, studying programming languages such as COBOL, Fortran, and C, and graduating as a systems analyst. Despite her talents, opportunities for women in technology were scarce in Zimbabwe, prompting her to move to the United Kingdom in the early 2000s in search of better prospects.

Entrepreneurial Leap and Building Prepaid Financial Services

Valerie’s entrepreneurial journey truly began when she co-founded Prepaid Financial Services (PFS) with her husband, Noel Moran, in 2008. Starting from their kitchen table in London, the couple faced significant challenges: they lacked external investment, struggled to raise capital, and even lost money in their first year. Undeterred, they relied on their savings and relentless determination to keep the business afloat.

Valerie was the first employee, taking on the role of Implementation Project Manager and later Head of Operations and Client Relations. She oversaw client accounts, internal operations, and regulatory compliance, learning the intricacies of the fintech industry on the job. Her commitment to learning, listening, and adapting became hallmarks of her leadership style.

Breakthrough and Global Impact

The breakthrough came when PFS landed its first major client, allowing the company to move into an office and begin its ascent in the fintech world. Over the next decade, PFS became one of Europe’s most successful fintech firms, providing innovative payment solutions such as prepaid cards and e-wallets to clients across 25 countries. The company posted profits for ten consecutive years and won prestigious awards, including the Queen’s Award for Enterprise: International Trade in 2017 and the European Business Awards’ Business of the Year.

In 2020, PFS was acquired by EML Payments for €327 million, marking a triumphant milestone for Valerie and Noel. Their joint net worth soared, and Valerie became the only Black woman ever to appear on the Sunday Times Rich List, a powerful symbol of what is possible for underrepresented groups in business.

Advocacy, Leadership, and Giving Back

Valerie’s influence extends beyond business success. She is a vocal advocate for diversity and inclusion, using her platform to mentor young people, especially those from underrepresented backgrounds. She has overseen philanthropic initiatives, such as the donation of 200,000 school meals to children in Mali in partnership with Mastercard and the United Nations World Food Programme.

Her story has inspired many, earning her recognition as one of the FT 100 BAME Leaders in Tech and comparisons to iconic figures like Oprah Winfrey. Valerie’s leadership is characterized by humility, a willingness to learn, and an unwavering commitment to excellence.

Legacy and Inspiration

Valerie Moran’s journey from Zimbabwe to becoming the UK’s richest Black woman is a testament to resilience, vision, and the transformative power of entrepreneurship. She broke barriers in an industry that often lacks diversity, proving that with hard work, courage, and belief in one’s ideas, extraordinary achievements are possible. For aspiring entrepreneurs, especially women and minorities, Valerie’s advice is clear: “Work hard and give 100 percent to your work effort. Leave no stones unturned so that at least if you have to walk away you know you have given it your best shot”.

Her legacy is not just in the wealth she has created, but in the doors she has opened and the inspiration she continues to provide to the next generation of business leaders.