London-based investment management firm Octopus Investments is launching a new fintech-dedicated accelerator out of its new Octopus Labs division. The firm says the aim of it will be to make financial services less complex and more accessible to ordinary consumers.
Applications for the accelerator are now open, but Octopus Labs will also build some of its own fintech solutions. Earlier this year the investment firm launched Octopus Choice, a peer-to-peer lending platform, as the first product of Octopus Labs.
Entrants into the 12-week accelerator programme will gain access to Octopus Investments’ mentors and distribution networks of financial investors and advisors. The firm says it may choose to invest or spin-in successful startups
“Octopus Labs takes the existing strengths of our business – our established customer base, distribution channels, skills and expertise – and adds a start-up dimension. The result is a powerful new force that will quickly develop new products and services to form part of the Octopus stable,” said Richard Wazacz, head of Octopus Labs.
“Our accelerator is a great example of the ambitions we have as a business unit. We want to take existing innovations and ready them for our mainstream audience of advisers and retail investors.”
Octopus’ venture arm this year saw notable exits from its investment in SwiftKey, which was sold to Microsoft and Magic Pony, which was bought by Twitter.
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