London fintech start-ups to get free legal services

Fintech start-ups in London are to receive free legal services worth thousands of pounds through a new programme launched by law firm Slaughter and May.

The Fintech Fast Forward programme will be accepting applications from start-ups in sectors such as distributed ledger technology, datatech, regtech, and insurtech.

Services

Ten start-ups will be selected to take part in the programme and will be chosen by a board of experts, which will include Santander Chief Customer and Innovation Officer for the UK Sigga Sigurdardottir and former Autonomy CEO Mike Lynch.

Businesses that are selected will receive £30,000 worth of legal services, including legal advice from Slaughter and May’s experts, access to legal documentation, network access and one-to-one mentoring on subjects such as presentations, pitching, people management, negotiation and communication.

Slaughter and May has launched the programme with the aim of building relationships with the UK’s fintech scene.

In addition to Slaughter and May’s programme, start-ups are also receiving support from another law firm. Earlier this year, Simmons & Simmons launched a £100,000 fund to provide start-ups in the fintech sector with free legal advice with the aim of building strong relationships with the next generation of fintech businesses.

Potential

Commenting on the programme, Slaughter and May Partner Rob Sumroy said: “A number of the firm’s most active clients first came to us as promising entrepreneurs and we hope that many of the entrants to this programme will have the potential to go as far.”