Barclays announced on Friday it has welcomed the ten companies that will join the 2019 London Barclays Accelerator, powered by Techstars class, which is the sixth London programme to date. The Barclays Accelerator reportedly provides successful applicants with a Financial Technology (FinTech) focused, 13-week programme. Each of the selected startups receives mentoring from industry professionals, opportunities to pitch their solutions and access to a collaborative working community.
“The companies will work closely with a team of Barclays executives, the Techstars worldwide network and other industry leaders to further expand their business models and develop breakthrough innovations. At the end of the programme, the companies will highlight their progress and showcase their unique selling propositions at a demo day at Rise London, Barclays’ global FinTech hub in the heart of Shoreditch. Participating companies will also be eligible for recently launched Rise Growth Investments, new investment capital solely focused on the companies accepted into the Barclays Accelerator programme. The funds will allow Barclays to invest up to £10m per Accelerator class.”
Speaking about the new class, John Stecher, Chief Innovation Officer at Barclays, stated:
“We’re delighted to kick off the sixth class of the Barclays Accelerator in London. It’s truly incredible how much progress participating companies make over the course of the programme and I’m keen to ensure we support their growth and development in London’s global FinTech ecosystem.”
Mariquit Corcoran, Managing Director, Group Innovation at Barclays, added:
“Last year’s London, Tel Aviv and New York classes were extremely successful and our growing alumni network of more than 140 companies continues to shape the future of financial services. The programme would not be possible without the mentors who spend countless hours helping our founders advance their businesses and achieve their goals. With 14 completed programmes to date, the Barclays Accelerator is one of the largest single-bank-powered portfolios globally, currently valued at over $700 million.”
The 10 companies selected for the programme are the following:
- Block Aviation: The company’s aircraft asset management software is creating a shared information platform to be used across the aviation ecosystem, reducing the cost of redelivery and facilitating efficient novations of aircraft leases.
- Capexmove: The company’s software allows companies to issue programmable debt to create tradable units, and thereafter track and settle them at a fraction of the cost of the current debt capital markets.
- Inbotiqa: The company’s enterprise business email solution aimed towards high volume and group mailboxes in financial institutions improves productivity and customer service levels through workflow management in middle and back offices.
- Krowd: Offers bidding marketplace provides personalized card-linked offers to retailers and credit card issuers, allowing retailers to increase customer retention and card issuers to increase usage.
- Paid: A platform that allows micro businesses and freelancers to get paid on time through its invoice financing at scale for micro businesses for low value invoices.
- Photocert: A company that’s software solution establishes and certifies the validity of visual evidence allowing businesses like general insurance, on-demand asset rentals and document certification to operate with efficiency and security, reducing incidents of fraud and misinformation.
- Smarter Human: Allows digital banks and FinTech firms to manage operational risk as a part of the agile product delivery lifecycle so that managing risk and compliance is no longer a bottleneck to innovation.
- Spark Change: A financial instrument that makes investing in carbon as easy as investing in the stock market, allowing individuals to offset their carbon footprint.
- Trezeo: Offers the self-employed, particularly gig economy workers, financial services that turn unpredictable income to a regular pay cheque through an income stabilizing solution.
- Urban Fox: Provides fraud detection and prevention software to enterprise scale merchants and payment processors targeting fraudsters who create synthetic online identities.