£500k competition launched for fintech start-ups that promote financial inclusion

By Roger Baird on Wednesday 2 January 2019

Alternative Lending

Crowdcube is behind a scheme to back start-ups that do most to make financial services more accessible

Crowdcube has launched a £500,000 fund to back fintech start-ups that foster financial inclusion.

The UK’s largest crowdfunding site plans to shortlist seven young firms and will back up to three pre-Series A and Series A Fintech companies with cash.

The scheme is also supported by investment house Green Shores Capital, professional services business Deloitte and magic circle law firm Linklaters.  

Green Shores Capital will provide cash for start ups judged to do the most to make financial services more accessible, while Deloitte and Linklaters will furnish accounting and legal advice.  

Luke Lang, Crowdcube co-founder, said: “The fintech sector as a whole is making significant strides in tackling the challenge of financial inclusion and capability, we are particularly excited about what this programme can achieve in driving change in financial services.”

Start ups taking part will be judged by Crowdcube chief executive Darren Westlake, Linklaters global co-head of fintech Finn Griggs,Green Shores Capital partner Arunkumar Krishnakumar and Mark Doleman, a lead partner at Deloitte’s start-up unit Propel.

Final submissions from firms will close on January 11 and shortlisted companies will pitch for investment at business centre Fora in Borough, London on January 24.

More information about the competition can be found at: www.crowdcube.com/explore/thrive

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