Capital One Launches U.K. Fintech Accelerator

By Tanaya Macheel for American Banker

Capital One in McLean, Va., has launched an accelerator program for U.K. fintech startups.

The 10-week program, Growth Labs, will operate from the company’s Nottingham, England, headquarters in partnership with the tech investor L Marks. Capital One is inviting pitches from early-stage startups and high-growth companies, it said Thursday. It will select six companies.

“It’s very difficult for start-ups working in or with the financial services industry to navigate its complex regulatory environment,” Stuart Marks, chairman at L Marks, said in a news release. “Capital One Growth Labs will give teams dedicated business support focused on education, strategy and partnership.”

The launch follows the bank’s announcement that it would hire 200 additional software engineers and relocate to its office from the City, London’s financial district, to its Silicon Roundabout tech scene.

Capital One is also a partner in the New York program of the FinTech Innovation Lab, a 12-week accelerator that also operates in London, Dublin and Hong Kong.

First appeared at American Banker