Barclays welcomes second accelerator intake

Ten FinTech startups have joined the second cohort of Barclays’ London-based accelerator programme this week.

The scheme, powered by Techstars, is an intensive 13-week programme of networking, mentoring and development, aimed at supporting breakthrough FinTech innovations.

The ten shortlisted companies will be based at the London Escalator, an open innovation space designed to support startups and entrepreneurs. Each of the teams will also receive $20,000 seed funding from Techstars.

Hundreds of startups from over 60 countries worldwide applied, and the chosen ideas range from encryption technology for cyber security, to a new bond marketplace and a Bitcoin company. It is the second time that the Barclays accelerator is being run in London, and applications are currently open for the inaugural New York version.

Derek White, Barclays’ chief design officer, said: “We recognise that to drive innovation within Barclays, we also need to look outside of the organisation and embrace the innovative startup ecosystem. As the second cohort kicks off in London, I’m looking forward to working with these startups as we shape and co-create future financial technology.”

One of the successful finalists has chosen to remain anonymous for now, but the other nine are:
• Basestone – provides cloud-based collaboration on major construction projects, creating data streams from the field that impact loan and insurance pricing
• Blocktrace – provides an immutable ledger for diamond ownership and related transaction history verification for insurance companies, claimants and law enforcement
• Godesic – provides a project management platform for IT infrastructure change-over in the financial services industry
• LiquidLandscape – provides data visualisation for creating linked, immersive data exploration environments used by traders
• Origin – provides a new marketplace for large corporations and institutional investors, using technology to facilitate direct debt and bond issuance
• PQ Solutions – provides cyber security that uses cutting-edge encryption techniques designed to beat attacks by quantum computers
• Ravelin – provides data science and machine learning with a merchant’s fraud profile to deliver pin-point accurate online fraud detection
• Safello – provides a Europe-focused Bitcoin exchange with plans to expand into payments
• Stockfuse – provides a gaming platform that quantifies talent through simulation, currently used by banks to identify and find future trading employees.

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