Source: Barclays Bank
Barclays is excited to introduce the latest class of FinTech-focused startups that will join the 2019 New York Barclays Accelerator, powered by Techstars.
Established in 2014, the Barclays Accelerator is an intensive 13-week program designed to fast-track the next generation of FinTechs. Participating companies will collaborate with a team of Barclays executives, the Techstars worldwide network, and other industry leaders to fine-tune their business propositions and solve problems at the cutting edge of financial technology. After three months of mentoring from leading industry professionals, the companies will highlight their progress and showcase their innovative propositions at a demo day in New York this December.
With more than 160 alumni companies and 16 programs completed to date, the Barclays Accelerator, powered by Techstars, is one of the largest single-bank-powered portfolios globally, with a portfolio valuation of over $1 billion. The companies will also be eligible for recently launched Rise Growth Investments, follow-on investment capital solely focused on the companies accepted into the Barclays Accelerator. The funds allow Barclays to invest up to £10m of follow-on investment capital per Accelerator class.
The mentoring and advice received during the program has led to the success of alumni companies such as Chainalysis, Morty, Novo and Harvest Platform among many other accelerator graduates - providing customer value across a range of applications in the financial services industry.
Mariquit Corcoran, Managing Director, Group Innovation at Barclays, stated: "This year’s New York class spans across a diverse and exciting set of sectors addressing challenges faced by the financial services industry including accounting, lending, travel, payments, data and analytics, personal finance and savings, and wealth management. We are extremely excited to work with these exceptional companies to help them transform the future of financial services in our cutting-edge Rise New York workspace, which is in the final stages of a massive expansion, including a state-of-the-art events space, auditorium and recording studio - set to launch this October.”
Jon Zanoff, Managing Director at Techstars, said: “Opportunities to invest in FinTech have never been greater, and I couldn’t imagine a more ideal partner than Barclays to run this program. Together, we’ve built a model that reimagines corporate innovation and has resulted in tremendous value for Barclays and our 100+ FinTech portfolio companies. In fact, alumni companies from across all Barclays Accelerator programs are collectively valued at over $1 billion to date. We’re thrilled to welcome these nine exceptional companies to our program, and look forward to working with them to accelerate their businesses over the next 13 weeks.”
The companies of the 2019 New York class of the Barclays Accelerator, powered by Techstars, are:
• Hubly: Hubly is building technology to power the future of financial advice.
• Lance Global Inc: Lance empowers freelancers to navigate their financial future.
• Lifesaver Inc: Lifesaver empowers young consumers with financial literacy resources and matches them to financial institutions in their community.
• Revelio Labs: Revelio Labs provides an in-depth view into the workforces of companies around the world.
• Swipedom: Swipedom maximizes cash flow for startups by splitting their invoices into installments.
• Taptrip: Taptrip is a self-serve business travel and expenses platform for small and medium-sized businesses.
• TomoCredit: TomoCredit helps millennials get credit cards they deserve by analyzing their alternative data sets.
• Trio: Trio is an all-in-one brokerage and checking account that lets you earn investment returns on your checking balance.
• Vestive: Vestive is a digital investment advisor creating solutions that are better for the environment, our society, and our users’ financial futures.