London-based fintech accelerator: a place for milliPay22.07.2014 09:22
Startupbootcamp has just announced the first cohort of 10 start-ups that will participate in the 2014 programme of its London-based fintech accelerator. The start-ups that have made the cut for the inaugural three-month mentoring program include teams from Europe, Africa and the US. From Switzerland, milliPay Systems will take part in the programme.
Together, the 10 teams have already raised a combined €6 million in investment, according to Startupbootcamp, with 70% of the selected start-ups already generating revenue.
Startupbootcamp’s fintech accelerator was announced back in February and is supported by multiple big brand backing, including financial services groups Lloyds and Rabobank, payment giant MasterCard and SBT Venture Capital.
Each team will receive €15,000 in funding in exchange for 8% equity, plus free office space at the Rainmaking Loft start-up hub (based in St. Katharine Docks, next to London’s Tower Bridge). The programme kicks off in August and will culminate in a demo day later this year, where the teams will pitch to more than 200 investors.
Nektarios Liolios, MD at Startupbootcamp FinTech, said the selection process for the first intake lasted some five months, with the team meeting more than 435 start-ups, visiting financial hubs in four continents and holding 18 events to whittle down to the final 10.
About milliPay Systems
milliPay is a Swiss micropayment system that makes online payments as simple as browsing. It allows users to pay with a single click, across the web and on any device, whatever the amount. Its innovative cryptographic protocol helps ensure the security and efficiency of processing payment transactions.