Two new funding initiatives launched in South West for fintechs
Two new funding initiatives have been launched for fintech start-ups based in the South West.
FinTech West’s South Coast Hub aims to bring together potential investors with the next generation of entrepreneurs from Bournemouth, Christchurch, Poole and the surrounding area.
The funding initiatives, announced at the FinTech West South Coast Summer Showcase make money available to support the early growth of FinTech businesses in the region.
The first funding initiative will establish a fintech-focused group of angel investors with the specific purpose of providing pre-seed funding, writing the first cheques for founders with breakthrough ideas.
The second initiative will bring a group of early-stage venture capital firms to the region to showcase the FinTech ecosystem and the firms that are operating locally. This will help to further develop early stage businesses with initial traction into fully fledged businesses, and put the region firmly on the UK FinTech map.
With almost half of fintechs now based outside London, this initiative is specifically focused on providing more startups with access to the funding and support needed to locate and grow their operations on the South Coast.
Joe Parkin, managing partner of FinTech Growth Fund who is leading the programme said: “Over the last two years, foundations of a successful fintech ecosystem have been laid in the area, and now is the time to bring capital and expertise to help the successful development of these early stage businesses”
Matthew Stammers, chair of FinTech West South Coast Steering Group Board added: “In the past, there have been few technology-based funding vehicles specific to our region. The South West has been known for its thriving FinTech community, so fostering growth here is vital.
“We’re looking to connect successful entrepreneurs who have experience of scaling high-growth businesses themselves and who have a strong connection to the region, with the next generation of founders looking to establish their businesses here. We’d love to hear from anyone looking to invest, or anyone looking to start their businesses here.”
FinTech West’s South Coast Hub was formed in early 2024 in collaboration with Bournemouth, Christchurch and Poole (BPC) Council and Bournemouth University and supported by Barclays Eagle Labs Bournemouth. It is led by an eight-strong steering group who represent local areas of expertise or need.
