The initiative is aimed at supporting 3 fintech companies in their Pre-Series A and Series A businesses (i.e. ventures in their early stage and in their first round of financing from external investors) that focus on financial inclusion and accessibility in order to address some of the problems that lead to financial exclusion.
The plan includes a £500,000 support package (i.e. investment cash, legal advice and help with accountancy issues) and sees the platform teaming up with Green Shores Capital, a co-investment growth hub with a focus on sustainable businesses that have exponential growth potential, the accounting firm Deloitte, and the law firm Linklaters.
Crowdcube Co-Founder Luke Lang told CLNews:
The fintech sector as a whole is making significant strides in tackling the challenge of financial inclusion and capability. We are particularly excited about what this programme can achieve in driving positive change in financial services. It has been a popular theme. Fintech companies have set out to disrupt the market and deliver greater inclusiveness. For instance, Monzo has said it is targeting banking for the masses.
Find out more here.