The co-founder of Square Jim McKelvey has launched a financial services tech accelerator programme known as SixThirty.
As a result, it is promising $100,000 in funding to eight different fintech start-ups every year, four in spring and the rest in autumn.
SixThirty has received backing from the St Louis Regional Chamber and local investment firm Cultivation Capital, which has given a three year financial commitment.
The firms chosen will take part in a four-month accelerator programme, receiving hands-on training, mentoring and networking opportunities with financial services firms in St Louis.
Mr McKelvey said: “Between the growth capital, the experience of our founding team, and the connections with the financial services community, SixThirty will be a welcome addition to the St. Louis startup scene."
Interested start-ups have until 6 September to apply for the upcoming class, which will begin in October and will be based at the T-REx startup co-working space in St Louis.
By Gary Cooper
