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Crowdcube signs deal with Linklaters to provide legal support for fintech firms

The magic circle firm said it wants to work with companies that have the potential to ‘grow into the tech giants of tomorrow’.

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Fundraising site Crowdcube has signed a deal with City law firm Linklaters to provide free support to fast-growing fintech businesses.

The magic circle outfit has sealed a year-long partnership with the crowdfunding  site to act as a legal advisor to selected tech companies that raise cash on its platform.

The UK’s largest crowdfunding platform said that fintech is its largest growth area, accounting for £53m of cash raised from its investors in 2017. It has raised cash for high-profile businesses such as Monzo,Revolut and GoHenry.

Linklaters said its help to these young firms will include legal workshops on topics such as company structure and data protection, and access to its legal resources database.

The law firm added that working with these firms “will provide invaluable market insight into companies that have the potential to influence and reshape the future of many traditional industries.”

Linklaters partner Nicola Rabson said: “It will also provide the type of broader support that these companies need to establish themselves at the earliest stages in their development in order to give them the best chance to flourish and grow into the tech giants of tomorrow.”

Crowdcube and Linklaters said they would mutually agree which firms qualified for legal support.

Last month, Crowdcube launched a £500,000 fund, called Thrive for Fintech, to back start-ups that foster financial inclusion.

The 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 Linklaters, which will again provide free legal support.

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