InvoiceSharing selected for Startupbootcamp Fintech London

InvoiceSharing selected for Startupbootcamp Fintech London
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Startupbootcamp has just announced the first cohort of ten startups that will participate in the 2014 program of its London-based fintech accelerator. The startups that have made the cut for the inaugural three-month mentoring program include teams from Europe, Africa and the US (see below for the full list of selected teams).

Together the ten teams have already raised a combined €6 million in investment, according to Startupbootcamp, with 70% of the selected startups already generating revenue.

Startupbootcamp’s fintech accelerator was announced back in February, supported by multiple big brand backing — including financial services groups Lloyds and Rabobank, payment giant MasterCard and SBT Venture Capital.

Given its historical focus on financial services, it’s no surprise that London has become a hub for fintech startups. Which means Startupbootcamp’s incubator is by no means the only fintech startup hot-house in town. For instance there’s also a Techstars-Barclays tie-up, and London’s FinTech Innovation Lab, to name two others.

Startupbootcamp argues that having multiple big brand backers gives its accelerator an edge, though. Those big brands will be providing the selected startups with access to pilot customers, industry data, APIs and — of course — capital.

Each team will receive €15,000 in funding, in exchange for 8% equity, plus free office space at the Rainmaking Loft startup hub (based in St. Katharine Docks, next to London’s Tower Bridge). The program kicks off in August, and will culminate in a demo day later this year where the teams will pitch to some 200+ investors.

Nektarios Liolios, MD at Startupbootcamp FinTech, said the selection process for the first intake lasted some five months, with the team pressing the flesh of more than 435 startups, visiting financial hubs in four continents and holding 18 events to whittle down to their starter for ten.

See the full article at techcrunch:

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