Today, Wellstreet, the tech innovation ecosystem and investment group, announced the launch of the Wellstreet Fintech Loft, in collaboration with Amazon Web Services (AWS). The Wellstreet Fintech Loft is a new investment programme targeting entrepreneurs and early stage startups within financial technology (fintech), regulatory technology (regtech), insurance technology (insurtech) as well as businesses with an enhanced usage of blockchain and AI.
The new programme will provide startups with hands-on guidance and mentorship, monetary investments, and access to the latest cloud technologies and expertise from AWS. Wellstreet Fintech Loft will open its doors to a select group of startups in its first cohort starting January 13th, 2020, at The Factory, the largest tech and innovation hub in the Nordics.
Wellstreet has previously been part of investing in and building Fintech startups like Regily, Habity and Steven. Wellstreet Fintech Loft is built on Wellstreet's proven methodology and modus operandi, through which Wellstreet has successfully invested in over 35 early-stage startups to date.
Startups joining the new programme will have access to seed funding, mentorship from Wellstreet and selected venture partners as well as industry knowledge and structure capital from a banking partner and guidance from selected niche players and other executives and experts in the industry. AWS experts will be based in the Wellstreet Fintech Loft and will provide technical guidance and support to the startups helping them build their business in the cloud by leveraging the latest secure cloud technologies such as blockchain, data analytics services, machine learning, and many more. Startups will also benefit from AWS Activate, which provides access to AWS credits, training and support.
Wellstreet Fintech Loft will feature one-on-one sessions and tailored workshops, seminars and events on everything related to building a successful business from employment and cultural topics to managing changing regulation, compliance, and dealing with data security. The first program will run over six months and the selected startups will be based in The Factory at no cost.
“For me, it's like being back home. Financial services and retail have been my cradle for more than two decades and a couple of years after my tremendous journey with Klarna, it’s finally time to start building fintech again,” said Mikael Wintzell, co-founder and CEO at Wellstreet, ex deputy Chief Commercial Officer at Klarna who is currently serving as a board member at Resurs Holding and Resurs Bank. “AWS and Wellstreet are a match made in heaven, and we are delighted to be working with them, their role in the initiative will be key to our success”.
“We are thrilled to be working with Wellstreet to create a dedicated space where Nordic fintech entrepreneurs can concentrate on turning their ideas into successful businesses,” said Guido Bartels, Managing Director, AWS Nordics. “Over the past several years we have seen more fintechs choose to build their businesses on AWS than any other provider and we are excited to see what innovation comes from this new cohort of startups in the Wellstreet Fintech Loft.”
The application process is now open. Entrepreneurs or existing fintech startups can submit their application at any point in time.