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Fourth London Cohort of the Barclays Accelerator Programme concludes with Eight deals

After fifteen weeks of development, mentoring and networking, the 11 companies in the fourth London cohort of the Barclays Accelerator programme today revealed their propositions at the newly opened Rise London in Shoreditch: the new home of FinTech.

 

The Barclays Accelerator, powered by Techstars, is an intensive startup programme designed to shape and scale the next generation of FinTech businesses.  It connects startups to mentors from across Barclays and the Techstars network.  It also gives them access to Barclays’ data and Application Programming Interface (APIs) to help create new products and services for customers and clients across financial services.

 

An audience of 250 industry leaders, venture capitalists, senior executives and corporate partners came to the event, and heard from the 11 teams, whose propositions are helping shape the future of financial services.

 

During the event, the companies highlighted the progress they have made, with eight of the 11 companies announcing more formal engagement with Barclays.  Some of these are:

  1. Simudyne – They are working with our Risk teams on strategic use cases.  Simudyne’s Providence software can help us simulate and distribute complex use cases to help with risk decisions
  2. Barac – Barac can help Barclays predict when fraudulent activity and outages will occur. They are working across Barclays UK and Barclays International
  3. Flux – Flux is developing a pilot with over 10,000 Barclays customers working across Barclays UK and Barclaycard’s acquiring business.  This will let our customers get their receipts in their banking app, showing exactly what they have bought, thereby improving the customer transactional experience
  4. Alyne – They are working with our control functions to understand how we can leverage our control data to enhance our standards and policies and react to new regulations even more effectively

 

The programme is not just for entrepreneurs.  For the first time, Barclays is spinning out an internal team as a separate company.  This is an example of our ‘intrapreneurs’ building momentum as a startup and creating a commercially viable business.  This company is Nivo, which offers secure mobile messaging for smarter customer service, and will pilot with Barclays Premier.

 

Michael Harte, Barclays Group Head of Innovation, said: “Financial Services is experiencing a period of major technological disruption. Rise, and specifically our Accelerator, has created a platform for experimentation, with new generation businesses and entrepreneurs, to build new products, services and platforms.  We’re committed to this customer-focused approach, so our businesses are able to innovate at scale.  By partnering with FinTech startups, and companies like Techstars through Rise, we have been able to deliver increased value to our customers and clients by developing products and services that best meet their changing needs.  We look forward to continuing to work with this talented cohort in order to drive new value and change both within Barclays, and the financial services industry as a whole.”

 

Chris Adelsbach, Managing Director of Techstars added: "The Barclays Accelerator, powered by Techstars, once again showed why our programme in London is the preeminent FinTech accelerator in the world.  This class will now join 1,024 other companies in the Techstars Accelerator portfolio that together have a market cap of $8 billion.  Techstars’ worldwide network helps entrepreneurs succeed.   Our network of 14,000 founders, mentors, investors, and corporate partners now spans 168 countries.  No matter the stage these entrepreneurs are at, Techstars helps them ‘Do More Faster’.   FinTech is an exciting vertical for us.  These companies are using technology to solve large real world problems that impact so many of us.  I'm excited by their prospects and look forward to supporting them on their journey."

 

Barclays continues to work closely with Techstars as partners through our global Accelerator programme.  The Accelerator in Tel Aviv is now underway, and applications are open for New York.

 

ENDS

 

Notes to editors

The 11 Companies

  • Alyne - Manage operational risk and technology compliance in one smart solution.
  • Barac - Real time analytics for instant decisions.
  • Bean - The simplest way to find, track and manage all your bills and subscriptions.
  • Bokio - Your digital controller, free of charge.
  • Citizen - Identity in the palm of your hand.
  • Courtsdesk - The ultimate business litigation research platform.
  • Flux - Receipts Reimagined.
  • Homeppl - Unlocking rental and financial opportunities through reputational data.
  • Nivo - Secure mobile messaging for smarter customer service.
  • Shieldpay - Buy Safe. Sell Safe. Pay Safe.
  • Simudyne - Artificially Intelligent Simulations for Financial Institutions.

 

For more information, please contact:

Archana Achuthan, Barclays Group Media Relations

+44 7881 317 715; archana.achuthan@barclays.com


About Rise and the Barclays Accelerator

Rise, created by Barclays, connects startups and corporations. We transform ideas into businesses. The Barclays Accelerator is one of several programmes we host.

 

Where new innovations were once born in large businesses, now it’s entrepreneurs around the world that create them. Startups can work fast, and disrupt the business models of the past. But they often lack the resources to be successful. So Barclays created Rise: to combine the agility and disruptions of startups, with the expertise and scale of Barclays. Speed and security. Youth and wisdom. Ideas and knowledge.

 

Find out more at thinkrise.com  #HomeofFinTech

More information on the Barclays Accelerator can be found at www.barclaysaccelerator.com

 

About Techstars

Techstars is a global ecosystem that empowers entrepreneurs to bring new technologies to market wherever they choose to build their business. With 21 mentorship-driven accelerator programs across 16 cities worldwide, Techstars exists to support the world’s most promising entrepreneurs throughout their lifelong journey. Techstars provides access to over 15,000 founders, mentors investors, and corporate partners, allowing entrepreneurs to accelerate the pace of innovation and do more faster. Techstars makes entrepreneurship more accessible by providing access to capital, guidance, marketing, business development, customer acquisition, and recruitment. For more information, visit www.techstars.com

 

 

About Barclays

Barclays is a transatlantic consumer, corporate and investment bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.

With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 120,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.home.barclays .