Follows similar moves by the likes of Addleshaw Goddard, Simmons & Simmons and Slaughter and May
Ashurst has become the latest big City player to dip its toe into the potentially lucrative world of financial technology through the launch of a new “accelerator programme”.
The firm describes ‘FinTech Legal Labs’ as an “intense” three-day programme aimed at enabling fintech businesses to gain a better understanding of the legal issues affecting their business, as well as accessing the outfit’s network of corporate clients, leading financial institutions, investors and potential joint venture partners.
Ashurst says the programme, which is headed by finance partner Abradat Kamalpour, has been set up to address the “demand from fintech companies at various stages of development for legal support and access to investors”. Applications for the scheme, which runs next month, are now open.
“This is an exciting new initiative from the Ashurst global fintech group, which is a key area of focus and growth for the firm”, fintech specialist Kamalpour said. “Leading financial institutions and investors have recognised that financial technology is critical to their future and success and having access to cutting edge fintech companies is increasingly becoming an important part of their strategic planning.”
Ashurst isn’t alone in handing out gratis legal support to fintech entrepreneurs.
In 2016, Addleshaw Goddard launched its ‘AG Elevate scheme’ which saw the outfit dish out up to £500,000 in free legal support and mentoring to fintech startups. This followed a similar initiative by City player Simmons & Simmons, which offered up to £100,000 to help “exciting” new fintech businesses.
Elsewhere, magic circle player Slaughter and May provided up to £30,000 in free legal advice to five start-ups as part of its ‘Fintech Fast Forward’ programme, while Hogan Lovells created a free mentoring programme to support fintech entrepreneurs.