Aviva signs “multi-million” deal to find the UK’s next fintech start-up disruptors
Latest investment in Founders Factory will see the insurance firm help to scale and create seven early-stage fintech businesses
Aviva Ventures, the venture capital arm of insurance firm Aviva, has made a “multi-million” investor into digital accelerator and incubator programme Founders Factory in a move to support up-and-coming financial technology (fintech) start-ups.
As part of the deal, Aviva will work with Founders Factory to develop five fintech start-ups and help to create two new fintech ‘disruptors’ – seven businesses in total.
Businesses chosen for the accelerator will get to work with Aviva’s technical, commercial and create teams to test and develop new ideas and services aimed at making insurance and financial services more accessible.
The Founders Factory team – headed up by Brent Hoberman CBE, Henry Lane Fox, and Jim Meyerle – will also provide mentoring and support to participating start-ups.
Aviva is the latest corporate partner to back Founders Factory. Last week, L’Oréal invested in the initiative to develop new start-ups in the healthy and beauty sector, while the Guardian Media Group, and Holtzbrinck Macmillan have invested as media and edtech partners respectively.
“We are looking forward to working closely with their teams, and accelerating and incubating world class fintech businesses.
“Entrepreneurs will be very keen to work with such a market leading company and champion of digital innovation. The combination of Aviva with the other corporate investors across multiple sectors in Founders Factory will create more global winners.”