The COVID-19 pandemic has made it harder for FinTech firms to raise capital, but now a new initiative might give them a leg up to grow despite the crisis.
ELITE, London Stock Exchange Group’s (LSEG) international private company development platform, and Global Accelerated Ventures (GAV) have teamed up with a new programme to support both FinTech and HealthTech companies.
The New York-based programme is designed to help startups prepare and structure for their next stage of growth. Later iterations of the initiative will launch in Texas and California later this year. Anyone looking to apply to the programme have until June 25 this year to do so.
Joining the programme will enable these ventures to join the network that has so far supported over 1,500 around the world and to enjoy bespoke mentoring in order to help them grow.
Speaking of the the programme, Christopher Malter, managing Partner at GAV, argued that COVID-19 has created liquidity gaps throughout the FinTech and HealthTech space, providing new opportunities for investors, technology development and companies. This is something FinTech Global has reported on in the past.
“There are many great FinTech and HealthTech companies out there that can’t scale because of liquidity gaps,” said Malter. “The purpose of this programme is to help those ambitious companies find the funding they need. In addition, these CEOs and founders will get access to a network of global resources and a knowledge base that will help them grow at an even faster pace.”
Thomas Tyler, head of ELITE USA, added, “ELITE is a great opportunity for companies to get the exposure they need to scale on a global level. Being part of the global ELITE network provides access to valuable insights and practical advice from ELITE partners, stakeholders and businesses offering companies the opportunity to benefit from others’ experiences and a platform for discussion and a forum to share ideas. Our collaboration with GAV provides an opportunity for HealthTech and FinTech companies to realise a significant impact on their future growth.”
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