Travers Smith targets fintech founders with new incubator programme

Travers Smith has launched a new fintech incubator programme, joining a growing list of City firms looking to deepen their ties with early-stage tech startups.

The programme, called Fintech Amplifier, has welcomed its first cohort and will run for a year. Participating companies will receive legal advice from Travers’ lawyers, alongside training on legal issues facing fintech founders and access to a network of peers, investors and industry stakeholders through roundtables and community events.

The initiative is being led by head of fintech Natalie Lewis, with support from partner Dan McNamee and specialists from across the firm.

Fintech, not legal tech

The inaugural cohort includes five fintech businesses spanning lending, banking, trade finance and sustainability-focused savings products.

Lewis said the programme reflects Travers’ commitment to innovation, adding that the firm is keen to support founders not just on getting their products to market but on "other business-critical legal needs" as they grow.

While incubators are not new, Travers’ move is notable in a market where many law firm-backed programmes have historically focused on legal tech rather than financial services startups.

A vibrant incubator market

Other City firms already run fintech-focused schemes. Hogan Lovells’ long-running FinTech Mentor Programme, for example, offers startups up to £25,000 of free legal and consultancy services, alongside access to its global network.

The most prominent incubators, however, have tended to target legal tech companies. A&O Shearman’s Fuse programme is probably the best known and is now accepting applications for its tenth cohort.

Since launch, Fuse has supported more than 90 businesses that have collectively raised over $1.5 billion, including the likes of Definely and Legatics. Non-Billable spoke to Fuse head Shruti Ajitsaria last year about the programme’s evolution.

Slaughter and May is another elite firm that has gone deep on legal tech through its Collaborate programme. It has also gone further than most by making direct investments. The firm was an early backer of legal AI platform Luminance and participated again in its $75 million Series C round last year. In 2017, it was reported that Slaughters had a 5% stake in the company.