Accenture has picked 16 new promising startups from such varied disciplines as InsurTech, RegTech, open data and capital markets to take part of its UK-based accelerator programme.
The new FinTech Innovation Lab London cohort includes InsurTech companies Caura, PORTABL.co, The Pension Lab and Bewica.
“We’re extremely excited to be kicking off the year by joining the 2020 cohort of the [FinTech Innovation Lab London] run by [Accenture],” Bewica’s official Twitter account tweeted.
The RegTech companies include Zurich-based compliance company Apiax, the Swedish blockchain-powered know-your-customer (KYC) platform norbloc, Seoul-based cybersecurity startup swIDch and CybSafe, which is developing next “generation security awareness software”.
The companies specialising in open data include bill management company ApTap, big data insolvency predicting startup Cerebreon, open banking platform Ducit.ai and digital invoicing company LendFlo.
The last category were startups specialising in capital markets. Investment indexing startup BITA Indexes, automated digital capital raising business Globacap, investment research evaluator Invisage and structured investment marketplace Resonancex.io were all part of this part of the group.
It is also notable that Accenture’s new 2020 FinTech Innovation Lab London cohort saw a 50% increase in the number of female founders, compared to 2019.
The startups selected for this new batch will be given the opportunity to take part in a three-month long programme that will see them get the chance to have senior executives from over 40 financial institutions as their mentors and to get guidance on how to further develop their offerings.
Accelerator alumni from Accenture FinTech innovation Lap program from around the world have raised a total of over $2bn in VC funding in total.
One of those success stories is Anorak, which was picked as one of the businesses on FinTech Global’s InsurTech100 list at the end of 2019. The company, founded in 2017, has since picked up a £5m Series A round in 2018 and partnered with UK challenger bank Starling Bank.
Some of the companies selected for the new London cohort have been in the news before. For instance, RegTech Analyst reported on norbloc’s partnership with Isabel Group in 2018 that would bring the KYC initiative to its pilot phase and about CybSafe’s £3.5m Series A round in 2018.
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