A new fintech "acceleration partner" led by Atom and Metro Bank co-founder Anthony Thomson has appointed its first two portfolio companies, supporting SME banking and payments firm wamo and the climate-centric company ekko.
Named archie, this venture was launched last year to identify and collaborate with early-stage fintech companies globally, assisting founders in accelerating their growth.
Thomson founded archie with former Uber, PayPal, and Zip executive Steve Brennen, Tandem Bank chair Paul Pester, Silicon Badia founder Fawaz Zu’bi, and Zip executive Tommy Mermelshtayn.
While the specifics of the deals with wamo and ekko remain undisclosed, archie operates on an equity model, providing operational support, networks, expertise, and proven strategies in exchange for equity stakes.
Steve Brennen, CEO of archie, stated: “As we know, capital alone isn’t enough to help fintechs successfully scale. Unfortunately, the scale-up stage is where many promising ideas and businesses falter. archie is here to address that.”
UK-based wamo, which recently raised $5 million, focuses on empowering SME growth across Europe with accessible business accounts and a specialization in cross-border payments.
On the other hand, ekko, which has Thomson as one of its board members, offers sustainability solutions for businesses, including tools for carbon tracking and offsetting.
Oli Cook, CEO of ekko, expressed excitement about partnering with archie, highlighting the significant value the team has already contributed in a short period, especially concerning their go-to-market strategy.
Learn more about the latest innovations in the sustainable finance sector at Finextra’s annual Sustainable Finance Live conference, taking place on 8 October 2024.