Co-Foundry & Plug and Play establish fintech accelerator

DEALSTREETASIA: The Co-Foundry (TCF), a Singapore-based venture accelerator and a co-working space, has launched a fintech accelerator, together with the Silicon Valley accelerator Plug and Play (PnP).

The new TCF-PnP program is planning to accelerate fintech startups in partnership with OANDA Asia Pacific and Singapore-based VC and PE firm BlueHill Asset Management Singapore.

Following the deployment of the US-Singapore Multi-Stage Accelerator Programme launched in December 2014, this accelerator programme aims to support fintech startups over the span of 6-12 months, depending on the developmental stage of the startup venture.

Funding support ranges from the pre-seed stage, up to a limit of $200k, and a maximum seed funding threshold of $1 million. Companies are also given the option to start in Singapore or the Silicon Valley, depending on their target market.

Under this collaboration programme, they can also conduct an exchange with the other accelerator.

Infrastructure support, such as office space, amenities, corporate services and access to business & technology mentorship from TCF, Plug and Play, OANDA and BlueHill are also available.

Networking events and ideation workshops are additional resources that startup ventures undergoing acceleration in the programme can access .