FinTech West offers new funding to support South Coast startup growth

Published by

Daniel Face

Two new funding initiatives have been announced by FinTech West’s South Coast Hub, which aims to bring together potential investors with fintech entrepreneurs from Bournemouth, Christchurch, Poole and the surrounding area.

The initiatives, announced at this week’s FinTech West South Coast Summer Showcase, make money available to support the early growth of fintech businesses in the region.

The first funding initiative will establish a fintech-focused group of angel investors with the specific purpose of providing pre-seed funding, writing the first cheques for founders with breakthrough ideas.

Meanwhile, the second initiative will bring a group of early-stage venture capital firms to the region to showcase its fintech ecosystem and the firms currently operating locally.

It’s hoped this will help further develop early-stage businesses with initial traction into fully fledged businesses, putting the region firmly on the UK fintech map.

With 48 per cent of FinTechs now based outside London, the initiatives are specifically focused on providing more startups with access to the funding and support needed to locate and grow their operations on the South Coast.

Joe Parkin is managing partner of FinTech Growth Fund, which is leading the programme.

He said: “Over the last two years, foundations of a successful FinTech ecosystem have been laid in the area.

“Now is the time to bring capital and expertise to help the successful development of these early-stage businesses”

Matthew Stammers, chair of FinTech West’s South Coast steering group board, added: “In the past, there have been few technology-based funding vehicles specific to our region.

“The South West has been known for its thriving fintech community, so fostering growth here is vital.

“We’re looking to connect successful entrepreneurs who have experience of scaling high-growth businesses themselves and who have a strong connection to the region, with the next generation of founders looking to establish their businesses here.

“We’d love to hear from anyone looking to invest, or anyone looking to start their businesses here.”

FinTech West’s South Coast Hub was formed in early 2024 in collaboration with BCP Council and Bournemouth University, and with support from Barclays Eagle Labs Bournemouth.

It’s led by an eight-strong steering group who represent local areas of expertise or need.

Daniel Face

Born and raised in Berkshire, Dan fell into journalism after completing his bachelor’s degree in English at UCL. Writing for The Business Magazine and local Biz News sites has given him the opportunity to chat with all manner of small business owners and share their success stories with a wider audience. Outside of work, Dan enjoys live music, board games and quiz shows, and is making a slow but persistent effort to learn Spanish.