The British banking giant Barclays has decided to close the doors of its fintech accelerator program Rise by mid-2025. Since its launch in 2015, Rise has played a crucial role in connecting technology, talent, and trends to drive innovation in the financial services industry. With locations in London, New York, and a virtual community in India, this program has supported over 120 startups. Names like Chainalysis and Novo Bank testify to the success of this initiative. Yet, in the face of evolving fintechs, Barclays is revising its strategy to adapt to a sector that is now more mature and embedded in the global financial landscape.
The British bank Barclays has announced the closure of its fintech accelerator program Rise, launched ten years ago to support global fintech startups. This program, which operated in London, New York, and virtually in India, will cease its activities by mid-2025. Since its inception in 2015, Rise has been a major player in promoting innovation and growth in the financial services sector, counting over 120 graduates, including companies like Chainalysis and Alloy.
Impact of the closure of Rise on the fintech ecosystem
The announcement by Barclays of the closure of its fintech accelerator program Rise has sparked a wave of discussions in the finance sector. By creating Rise in 2015, Barclays aimed to “connect technology, talent, and trends” to stimulate innovation in the financial sector. The locations in New York and London, as well as a virtual community in India, hosted many events dedicated to mentorship and industry networking. However, the bank believes that fintechs, which have become more mature, no longer need this type of support to collaborate with the financial services sector. The program had already trained over 120 alumni, including companies like Chainalysis and WealthOS, supported by Barclays itself.
The decision to end Rise by mid-2025 reflects a shift in priorities for Barclays. In a world where fintech startups are rapidly becoming dominant players, large banks like Barclays are seeking new ways to remain relevant. While the Rise program helped companies like Alloy, which is now valued at over one billion dollars, Barclays seems to be turning to other initiatives to continue investing in fintech. This closure may also signal a strategic shift towards more direct investments or targeted partnerships.
The implications for fintech startups
The conclusion of Barclays’ Rise program has notable ramifications for the fintech startups that relied on this type of accelerator for their growth. Rise has been the cradle of many innovations and has enabled the development of new financial technologies, creating an environment conducive to experimentation and launches. The absence of such support could slow the pace of innovation in certain sectors, especially for early-stage startups that benefited from mentorship and valuable resources.
For fintechs seeking similar support, it is crucial to explore other options. Other accelerators and incubators, lesser-known but equally effective, might fill this gap. Additionally, collaborating with investors connected to Citi or influential figures such as Matt Harris of Bain Capital could offer new opportunities for fintechs looking for growth. This new reality particularly emphasizes the need for startups to be proactive and explore diverse avenues to achieve their growth objectives.
The future prospects of acceleration programs in fintech
The closure of Rise raises questions about the future of fintech acceleration programs. As the sector becomes increasingly competitive, traditional financial institutions like Barclays may seek to evolve towards more flexible support models tailored to the current market needs. It is crucial to examine how fintechs can leverage emerging trends in regulation, transactions, and cryptocurrencies, as suggested by cryptomonnaies-les-tendances-fintech-a-surveiller-en-2025/”>this link.
