Media: Press Releases | 23 September 2020
London, 23 September 2020 – International law firm Hogan Lovells is delighted to announce the admission of eight new companies to its Global FinTech Mentor and Momentum Programme for 2020/21, with a commitment to allocate £25,000 of free legal advice to each successful applicant.
Following a competitive application process, our new cohort includes:
- General Internet: A credit and banking platform catering for business loans and moving towards becoming a networked business bank and open FinTech platform.
- Moneyfold: A regulated financial services firm which uses public blockchains including stablecoins, FX services, Tokens and distribution of financial services.
- Thunes: A B2B cross-border payment network which enables both emerging and developed markets to move funds seamlessly and in real-time.
- Pivotal Group: An E-commerce platform and mobile App designed to help consumers manage, discover and switch between subscriptions with access to personalised offers
- Bloom: A provider of business cash advances to merchants.
- Floww: A platform to simplify data and due diligence aspects of investing in start-ups for entrepreneurs, venture capital firms and investors.
- WeCovr: An insurance-as-service platform providing turn-key on-demand coverage via apps and API’s to companies and individuals.
- Covertech: An app-based modular lifestyle insurance platform.
Having established the programme in 2017, 2020 marks our fourth year of inviting FinTech firms at all stages of development, from start-ups to established momentum players in strong growth mode, to apply for complimentary support from Hogan Lovells.
The FinTechs on the programme will be assigned a dedicated relationship manager, who will guide them through maximizing a suite of support options in addition to the headline free legal advice which includes:
- Commercial insight on how financial services businesses can successfully launch and scale-up
- A 30% discount added to the free advice to make it go further and the same discount on advice provided after or outside the scope of the programme
- Access to the firm’s cross-border FinTech network
- Networking with current and previous mentees
- Training opportunities through a host of firm and industry events
- A package of affordable corporate and regulatory advice, from contracts, compliance and collaboration agreements to employment law, fund raising and structuring
- Free access to our suite of LawTech tools offered on Engage, including the Consumer Credit Academy, PISP/AISP Authorisation Toolkits, Payment Services Academy and Blockchain Tools, among others while on the programme
- Support from Hogan Lovells Consulting team for regulatory advice on everything from authorisation to building a scalable compliance framework.
Hogan Lovells Head of Financial Services, Emily Reid, said: “It was tough deciding who to admit to this cohort.We had more applications than ever from the UK and other countries, all extremely high quality and demonstrating true innovation in different areas of the financial services sector. We’re looking forward to helping the selected applicants succeed within a complex regulatory framework that’s hard to navigate but essential for a long term sustainable business.
Hogan Lovells has a history of innovating precedent setting legal and regulatory solutions in the FinTech space, including advising on the establishment of the UK’s first internet bank; the launch of Zopa – the world’s first peer-to-peer lender of its type; the launch of a mobile P2P payments service – the first of its kind in the UK market; and advising on payments cases using blockchain.