Legal firm Addleshaw Goddard is returning its signature advice and mentoring scheme ‘Elevate’, and is encouraging Scottish FinTechs to get involved. According to AG, Elevate 2018’s ‘expanded programme’ will offer free legal guidance to FinTechs of all sizes – both ‘early stage start-ups’ and companies with over £1 million of funding already behind them. Fiona Ghosh, Head of FinTech at Addleshaw Goddard, announced the programme’s return yesterday at PayExpo Europe, the UK’s largest Payments and FinTech conference.
AG is particularly enthusiastic towards Scottish FinTech startups, after its recent merger with local firm HBJ Gateley. Scotland’s burgeoning FinTech sector has overrepresented itself recently with the explosion of companies including wealth management platforms FNZ and MoneyDashboard, and verification service MiiCard. Last week DIGIT held FinTech 2017, which welcomed over 300 delegates and 30 speakers to Edinburgh to discuss how Scotland could play on the future stage of financial services.
David Anderson, a Partner of AG’s Scottish FinTech team, asserted that the programme was a perfect fit for Scotland. Mr. Anderson said: “Scotland’s FinTech sector benefits from the country’s renowned financial services industry, and its growing influence was well demonstrated by the FinTech hub established by Scottish Financial Enterprise and Royal Bank of Scotland at Gogarburn and the successful FinTech conference run by DIGIT last week. It was no surprise for it to be named by the Scottish Government as a key tenet of its economic strategy.
“The AG Elevate programme is a valuable opportunity for Scottish FinTechs to take advantage of legal and commercial advice aimed at growing a valuable business in a hugely important sector. The combined network of AG means that we’re able to help them make connections quickly which might otherwise take a long time to develop.”
The programme will once again be resourced by Addleshaw Goddard’s pool of FinTech lawyers. In 2016 the legal team won an award for ‘Most Innovative Law Firm’ for their work at Microsoft, presented that the Financial Times Innovative Lawyers Awards 2016. Participants can expect lengthy support from AG, which is still working with seven FinTechs from the first cohort of companies who entered in November 2016, including asset management platform Delio.
Fiona Ghosh commented: “Following the success of our 2017 programme, it made absolute commercial sense for us to take AG Elevate to the next level. We have learnt much in the process of the original offering that we will build upon for the next round. The FinTech market has changed significantly over the last 12 months – people are realising that you can be a well-established global business and be FinTech. We want to continue the work we are doing and to keep providing a service that allows our clients to prosper and grow as well as providing a network to learn from each other and more established players. We look forward to welcoming the next round of applicants.”
Interested FinTech firms can enter the programme here.