On 24 January, OVHcloud and the Alchemy Crew hosted a startup-investor event where ten FinTech and InsurTech startups presented their ideas to investors, corporate delegates, and other interested parties. Given the problems with SVB over the weekend, future funding is a hot topic and hopefully the HSBC deal will stabilse the situation for investors, insurtech partners and founders alike. Here’s some insights from Pitch410;
The event was called #Pitch410, with the goal of offering an opportunity for the most promising young ventures. Attendees heard industry stories, founders’ journeys, and each startup’s immediate needs that could be met by venture capitalists and corporations. Post-event drinks and nibbles created a relaxed atmosphere that supported networking interactions.
Our focus this time was around FinTech and InsurTech. London is considered to be one of the leading hubs for FinTech and InsurTech after the United States, with 28 percent of all global FinTech startups located in London, plus an estimated 7% have received funding.
London is recognised for having one of the strongest financial services sectors in the world and the reason why FinTechs and InsurTechs are doing well. The city is well known for its supportive regulatory environment with its EIS and SEIS schemes to accelerate startup investment, and thriving tech ecosystem, making it an attractive location for innovation in financial services.
BIG NUMBERS
During the scouting process, our team at Alchemy Crew reviewed 270 FinTech and InsurTech startups. We discovered through our sourcing process that they were over 23.2K FinTech startups across the globe that have already received over USD $685 billion in funding, whilst, in the UK, 1.4k startups received $70 billion in funding over the past 10 years.
“As, the second FinTech startup location in the world, London is such a welcoming city for FinTech startup innovation. Despite a little bit of an investment dip in 2022, it is always thrilling to identify unknown gems which we hope become respected market players in their own right in the future.” commented Sabine VanderLinden, CEO and Managing Partner, Alchemy Crew.
These companies are taking the world to the next level by shaping the future of finance and insurance. Our collaboration with OVHcloud enables those early-stage ventures to gain access to new cloud-based capabilities to build, grow and scale their businesses, including being more “open, sustainable, and free in the cloud” so that they can have peace of mind knowing they have effective measures in place to protect their valuable data assets when scaling their business.
Since 2015, the OVHcloud ecosystem has welcomed more than 3,000 startups and scaleups from around the world. Yepic.ai and Paper.li are two examples of popular and growing startups. Startups joining the OVHcloud Startup Program get access to credits, co-marketing possibilities, and support starting on day one.
Some of the start-ups who joined in the ideas discussions at Pitch410 included Breez Insurance, which links cover to users’s smartwatches, and Diesta, a payments specialist looking to save insurance clients time on reconciliation and other payments admin.
Be the first to comment