Barclays raises Rise Growth Investment funds for fintech start-ups
Barclays’ fintech accelerator has stepped up a gear to offer new investment capital of £10 million per programme for start-ups.
“The fintech community is growing faster than ever with a number of game-changing start-ups”
Along with this good news (and note the £), the bank has made a “significant” expansion to its Rise New York, one of its global locations providing a co-working, mentoring and events space in its Rise FinTech ecosystem.
Situated in Silicon Alley, Rise New York is currently home to more than 60 start-ups. Participating companies in the Barclays Accelerator, powered by Techstars programme, will have a chance to access this new juicy capital.
John Stecher, chief innovation officer at Barclays, says: “The fintech community is growing faster than ever with a number of game-changing start-ups. With the expansion to create our largest-ever Rise site, not only can we give those in our Accelerator programme the room to grow – we can also help to house more of the best and brightest innovators.”
The Rise New York expansion will comprise five full floors spanning over 66,000 square feet, capable of hosting up to over 200 businesses.
It will also feature an events space, an auditorium and a recording studio. Together with Barclays’ new Innovation Technology R&D centre, the bank says it will be used to host numerous innovation events and learning sessions that will be open to the public.
Rise has a global physical presence with approximately 200 companies in residence.
The Accelerator programme launched in 2014 and is currently active across New York, London and Tel Aviv with more than 140 companies in its portfolio.
Start-ups can get more info and apply to the Barclays Accelerator here.
In other recent news, and across the pond, Barclays and Santander InnoVentures led a new equity funding round of £26 million in UK-based business lender MarketInvoice.
