Addleshaw Goddard is the latest law firm to buddy up to the fintech community, picking seven startups to join a 12-month programme that will include legal advice and mentoring.
The seven AG Elevate programme members will each get one of the firm's lawyers as a mentor, helping identify and respond to their unique legal and commercial challenges. Other benefits include up to 40 hours of free legal advice for the year, as well as access to briefings, seminars and regulatory developments and networking opportunities.
Chosen from nearly 30 applicants, the members are AML data specialist Comply Advantage; white label platform for private assets Delio; chat-based money manager Mobillity; social network-based lending outfit Money Fellows;SME cash management platform Pace Invoice; SME bank Penta; and Valot, which lets people select the currency they buy in when abroad.
Fiona Ghosh, head, fintech group, Addleshaw Goddard, says: "The industry needs pioneers to disrupt, challenge and push the boundaries through clever thinking and technological advances. That’s why programmes like AG Elevate are so important and our job over the next year is to draw on our collective experience and insight to guide them through the next important stages of their growth."
Addleshaw Goddard is not the only law firm keen to woo members of the vibrant fintech scene, building relationships that could one day yield valuable business. Last month Slaughter and May said it will provide five fintech startups free legal services worth tens of thousands of pounds. Meanwhile, another firm, Simmons & Simmons, is launching a fintech and regtech student support programme with London's Queen Mary University.