Top Accelerators and Incubators for Fintech Startups
Fintech made a huge change in the technology sector over the last couple of years. Several accelerators and incubators are fueling fintech startups and providing more opportunities to these startups to meet their goals. Fintech funding reached over $111.8 billion in 2018 globally. This funding increased as of 120% compared to 2017.
Due to this increased percentage of fintech startups and funding, new fintech startups will face a tough competition. These startups will need a supportive hand to help them achieve their goals.
For this purpose, several incubators and accelerators are trying to fuel up these startups by providing them the best accelerator-programs throughout the world.
Before digging into the field of fintech and finding out which accelerator or incubator will suit your ideas the best, first, you need to understand what do these two terminologies mean.
Incubators support new startups by providing them seed funding, helping them to develop their business models, connect them with development expertise and a free workspace. While accelerators providing their support in seed funding as well as connecting them with peer investors and influencers of the market to get more funding for their startups.
Accelerators and Incubators both are trying hard to make these startups successful. As the fintech industry is trending nowadays, there are more chances that one of these accelerators/incubators accepts fintech startups’ application.
We have listed top accelerators and incubators for fintech startups below. These accelerators/incubators have famous names in the fintech industry in their portfolios.
- Plug & Play
- Fintech Innovation Lab
- F10 Fintech Incubator & Accelerator
- ING Fintech Village
- Copenhagen Fintech
- Citi Ventures Fintech Accelerator
- Barclays Accelerator
- Startupbootcamp Fintech
1.Plug & Play
Plug & Play is based in Sunnyvale, California in Silicon Valley. It is a corporate innovation platform providing early-stage investment to the fintech startups along with mentorship, connection to other investors and full support to meet the startup’s individual goals.
Plug & Play is running two programs per year in every industry. These programs are 3 months long. It is known as the “Most Active Silicon Valley Venture Capital Firm”. It provides a total of fifty programs per year in the overall industry.
Plug & Play has also had 200 venture capitalists in its ecosystem along with almost 300 corporate partners. The main focus of this firm is to connect these early-stage fintech startups with the world’s largest investment firms and investors.
Plug & Play invests $25,000 to $50,000 in each startup. It has the world’s largest company’s names in its portfolio in the fintech industry. PayPal is one of the examples invested by Plug & Play.
2. Fintech Innovation Lab
Fintech Innovation Lab is based in New York. The accelerator programs provided by this firm are 3 months long. The aim of the Fintech Innovation Lab is to provide leading experts mentorship, assistance in deployment of the proof of concepts, workshops, and panel discussion forums based on the financial industry, workspace, and venture capital funding to fintech startups.
Total funding of $1.1 Billion raised in its programs. There are several successful fintech startups in the Fintech Innovation Lab’s portfolio. One of the big-name is AlphaPoint which provides an engine of exchange for cryptocurrency or digital asset exchange.
3. F10 Fintech Incubator and Accelerator
It is also known as “The Home of Fintech”. Its motive is “Driving innovation towards the Fintech of Tomorrow”. It is based in Zurich and Singapore.
It provides full support to Fintech startups in transforming their fintech ideas into successful startups and connecting these startups with international finance organizations and individual investors. These financial organization includes SIX, The Swiss Stock Exchange and other leading financial organizations.
The programs provided by F10 is based on three stages. The first stage is to convert idea to prototype, second is to convert prototype to product and third is to take the product to the market level. The total time period of the program is six months.
Y-Combinator is based in Mountain View, California, United States. It was founded in 2005 by Paul Graham with other co-founders. Y-Combinator is a seed money startup accelerator. It provides total of $150,000 to each startup with a total of 7% equity.
It also provides mentorship, connection with worldwide investors and helping to grow ideas to the fintech startups. Coinbase is one of the big names in the fintech industry which was invested by YC.
5. ING Fintech Village
It is the initiative of ING Belgium in collaboration with ING Luxembourg and other ING Group partners. ING Fintech Village is located in Diegem town, Belgium. The three months long program is targeted to select technology driven startups that are offering solutions for financial institutions or providing financial services to its customers.
It is one of the largest European technology accelerators focusing on fintech, cybersecurity and future’s cities technology startups. It was launched in March 2013 and is owned by Canary Wharf Group.
Level39 has some of the biggest fintech players in its portfolio including Revolut and eToro.
7. Copenhagen Fintech
The aim of this accelerator is to create a Danish growth adventure with fintech. It is bringing the public and private sector together to achieve societal progress. In its co-working space, Copenhagen Fintech Lab is supporting around 50 fintech startups.
It is providing networking facility to fintech startups with top investors, developing the community and ensuring growth of these startups. The programs is also focusing on the scaling and expanding of theese fintech startups globally.
8. Citi Venture Fintech Accelerator
It helps people, businesses and communities to accelerate innovation via comprehensive programs provided by this firm. It is a four months-long program supporting 55 startups per program.
Citi Ventures explore, incubate and invest startups working in the technology sector or financial services. Its portfolio includes Cashforce, Claritymoney and FastPay etc.
9. Barclays Accelerator
It was first launched in London. After getting popular, Barclays opened its second branch in New York. It is powered by Techstars. It provides a 13 weeks long program focused on fintech industry. The program has dedicated team from Techstars to provide mentorship and support building the new startups ideas.
It aims to provide best solutions in the sector of fintech by not only connecting startups with investors but also to connect with banks. Barclays is investing almost $120,000 in each startup so that these startups can achieve their individual goals in fintech industry.
10. Startupbootcamp Fintech
It is a global network of industry focused startup accelerator. It is providing almost 17 accelerator programs across the globe. Each accelerator program is focused on a specific industry.
Startupbootcamp Fintech accelerator program is running in Singapore, New York, Amsterdam, Mexico City, London, and Mumbai. The Mexico City accelerator program is a three months long program providing a total of ten selected fintech startups with mentorship, free office spaces, seed funding, and connecting these startups with international investors on demo day. These startups present their ideas to the industry investors and corporate partners to get more funding for their fintech startups. Its portfolio includes big names in the fintech industry such as ValePay and Lisa Insurtech.