FinTech Wales initiates latest accelerator program

FinTech Wales, an organisation for the FinTech industry in Wales, has opened applications for the third season of its accelerator program, the FinTech Wales Foundry.

The 12-week, no equity accelerator program, is partnered by Cardiff Capital Regio, Principality Building Society, and aims to provide mentorship and support to help incubate, accelerate and scale startup organisations within the Welsh financial ecosystem.

The program provides support to startup businesses across banking, insurance, financial services and FinTech to deal with the challenges of fundraising and successfully scaling up their operations.

The Foundry has already taken 16 businesses through the first two programs and has supported them to raise over £20m investment, which will help create hundreds of jobs.

Successful applicants for the third cohort of the scheme will be announced in September, and will then begin an intensive program of online and bi-weekly in-person mentoring sessions in Cardiff.

The closing date for applications is 19th August this year.

FinTech Wales CEO Sarah Williams-Gardener said, “The Foundry is a key element in our strategy to establish Wales as a globally recognised FinTech Hub of excellence. Our first and second cohort of businesses have collectively raised over £20m in investment, and most importantly, these businesses now have a presence in Wales, bringing jobs, innovation and ultimately, a boost to our economy.

“All eligible FinTechs should apply for this programme – as well as having 12 weeks of mentorship and guidance, those who are accepted onto the programme are introduced to FinTech Wales’ community, which prides itself with industry leaders across Wales and beyond. Our members and mentors have been there before and know the challenges professionals face when starting a business.”

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