Addleshaw Goddard has today announced the six FinTechs that have been selected for its 2018 ‘AG Elevate’ mentoring programme. The chosen businesses were selected from what AG say was a very high calibre of pan-European and pan-UK applicants, all of which have a developed product and significant funding in place.
The successful applicants (see list below) – from London, Manchester, Lithuania and Dublin – are currently being assigned a mentor from the AG Elevate FinTech team (ranked 2nd in the ‘Financial Times Innovative Lawyers Awards 2017′ in the ‘Supporting Start-ups’ category). The cohort will receive advice and guidance on legal and commercial challenges, receiving up to 30 hours of free legal advice for the year, as well as access to briefings, seminars and regulatory developments, and networking opportunities.
Fiona Ghosh, head of AG’s FinTech Group, said: “From providing security to the gig economy to creating a platform that is transforming the consumer loyalty and rewards sector – our 2018 FinTechs are transforming the financial services arena. We are delighted to welcome such a diverse and innovative group of businesses into our 2018 programme – all are at very exciting junctures in their growth cycle and we are committed to developing strong ties with them as well as adding commercial value to their existing strategies. All stages of FinTechs are interesting to us but, as the FinTech market has matured rapidly, we have reflected that in this year’s cohort”.
The selection follows last year’s inaugural programme worth up to £500,000. Other firms that have launched FinTech mentoring programmes include Slaughter and May, led by head of technology and outsourcing Rob Sumroy and financial institutions partner Ben Kingsley.
The six successful businesses are:
Airtime Rewards (Manchester) is a mobile technology business that is transforming the consumer loyalty and rewards sector.
Halotrade (London) provides a decentralised ethical supply chain financing application. They use blockchain-based technology to facilitate immediate access to lower cost working capital for suppliers conditional upon achievement of verifiable social and environmental standards and transparent product journey data.
Lendable (London) builds technology to automate prime consumer lending and offers instant loans at fair rates online.
Nivo (Manchester) – Having recently spun out of Barclays, Nivo lets organisations onboard new customers more easily by combining mobile identity verification and secure messaging in a solution that’s fast and free to set up.
Trezeo (Dublin/London) provides financial stability for self-employed workers in the gig economy.
Worapay (London/Lithuania) is a mobile ordering and payment technology provider. Their tech is already being distributed to UK retailers by the Lloyds Banking Group and Mastercard