London law firm Addleshaw Goddard is the latest legal group to tap the expanding fintech scene with the launch of a programme valued at £500,000 in free legal advice and mentoring services to 16 top startups.
'AG Elevate' consists of two programmes - one targeting 'early-stage' start-ups with no more than £1 million of investment, and one directed at start-ups with 'Series A' funding of more than £1 million. Both packages offer mentoring services and free legal advice, together with access to AG's training sessions and networking events.
The group says it will work with London-based accelerators to identify the most promising prospects.
William James, head of AG's Payments team says: "We have unique expertise acting on some of the most complex fintech transactions and structuring digital mobile and technology solutions services for our clients. The fintechs we support through Elevate will have access to some of the very best experience and know how from senior lawyers operating in this space and we are well placed to pass on our expertise through mentoring them."
AG isn't alone in treading the fintech path. Last week, Slaughter & May announced a Fintech Fast Forward programme to provide 10 startups with free legal services and advice. And in May Simmons & Simmons set aside £100,000 a year to provide pro bono services to three or four young companies in the sector. The fund recipients were announced last week - Alterest, Cuvva, Railsbank and Tallysticks.