Hogan Lovells is supporting the launch of an innovative free automatic student rewards app from COVID-19 start-up Fygo, one of the firm’s FinTech Mentor and Momentum Program 2020 cohort.
Launched in April 2017, through the Program, FinTech organisations in Asia, the EU and UK at any stage of development, from start-ups to established momentum players in strong growth mode, can apply for complimentary or subsidised support from Hogan Lovells.
Recipients benefit from extensive industry knowledge from Hogan Lovells’ commercial insights, access to the firm’s global network, legal and compliance training, industry events and use of the firm’s FinTech tools, up to a maximum value of £25,000 for any one company.
Founded during the COVID-19 pandemic, Fintech start-up Fygo has conceived and brought to market, with the help of Hogan Lovells, an innovative automatic student rewards app. Launching initially at Durham University, the free mobile app allows students and staff to link their bank cards to the app through a secure interface, and instantly and automatically receive cashback when they spend using a linked card at Fygo partners, without having to say, show, or scan anything.
For participating businesses, partnering with Fygo provides an affordable cost, hassle and commitment free solution to acquire more Generation Z customers and increase revenue. The in-built tracking system providing insights to help them better understand their customers and competitive positioning, with access to customer analytics, and to improve their service and products.
Commenting, Hogan Lovells FinTech Mentor and Fygo relationship lead, counsel Oliver Irons, said: “The global pandemic has totally changed how we live and work, and whilst it has presented many challenges, some positives that can be drawn are the advancement of technology, and innovation to adapt to constantly changing circumstances. The team at Fygo identified a way to support both students and businesses through harnessing their technology, and have worked tirelessly to make their concept a reality. They are deserving recipients of our FinTech Mentor and Momentum Program support package, and it has been hugely interesting and rewarding working with them. We wish them the very best for the pilot in Durham, and look forward to a continuing relationship.”
“Being accepted onto Hogan Lovells FinTech cohort 2020 was an enormous boost for us. They have provided superb strategic advice on several of our key business activities. The team’s diligent approach has ensured we are building a product capable of launching and scaling quickly. Being amongst top European start-ups has inspired us to sharpen our product’s value proposition and continue putting everything we have into building something people want!” said Jonah Lowenstein, Co-Founder at Fygo.
For further information about Hogan Lovells FinTech Mentor and Momentum Program, see here.
Businesses will be onboarded from March 2021, and the app is expected to launch to students in early April. Businesses can find out more via blog, podcast or video. Students can join the waiting list here.