Barclays to Wind Down Its Rise Programme by Mid-Year

Barclays has announced the closure of its decade-old fintech accelerator programme, Rise. Established in 2015, the initiative supported fintech startups with mentoring, industry events, and collaboration opportunities. However, the UK bank cites the evolution of fintech from niche startups to mainstream players as the reason for winding down the programme by mid-2025.

Rise, with hubs in London, New York, and a virtual community in India, leaves behind a legacy of over 120 alumni, including WealthOS and Velotix, both of which received Barclays’ investments. The move reflects the changing landscape of fintech innovation and its integration into the financial services mainstream.

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The decision marks the end of a decade-long initiative designed to support fintech innovation and foster collaboration between startups and the financial services (FS) industry. The programme became a cornerstone for fintech collaboration, hosting numerous mentoring and industry events annually.

With physical hubs in London and New York, and a thriving virtual community in India, Rise successfully cultivated a global network. Over the years, it nurtured over 120 alumni, including prominent fintech companies like WealthOS, a wealthtech platform, and Velotix, an AI-based data security platform. Both companies also benefited from Barclays' investments, underscoring the programme's commitment to driving innovation in the fintech sector.

Barclays’ decision to wind down Rise comes as the financial services sector has evolved significantly over the past decade. When Rise launched, fintechs were niche startups, often requiring dedicated support to gain traction in the highly regulated and competitive FS space. Today, fintechs have transitioned into the mainstream, with many startups enjoying greater access to opportunities and collaborations with established financial institutions.

In a statement, Barclays acknowledged this evolution, explaining that the fintech ecosystem has matured significantly. With numerous opportunities now available for fintechs to collaborate and innovate within the FS sector, the bank believes the original purpose of the Rise programme has been fulfilled.

The closure of Rise and its academies signals a shift in the fintech landscape, reflecting how the industry has grown from a fledgling niche to a key driver of innovation in financial services. While the programme is set to conclude, its legacy of fostering growth and collaboration in fintech will remain a testament to Barclays’ early investment in the sector’s potential.

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