FinTech Sandbox, a nonprofit that helps financial technology startups access data and resources, said Monday that Morningstar (MORN) would provide a select group of startup companies with free access to its global investment databases for six months.
This news comes one month after industry veteran Sallie Krawcheck said she is working to launch Ellevest, a new digital investment platform for women, in early 2016, with $10 million in Series A financing led by Morningstar.
“Morningstar’s mission is to help investors reach their financial goals, and we want to work with companies that share this mission,” said Joanna McGinley, head of redistributor solutions for Morningstar, in a statement. “We are excited to contribute our data to FinTech Sandbox and the startups it supports.”
FinTech Sandbox, which is based in Boston, is currently sponsored by several firms, including Fidelity Investments, Devonshire Investors, Thomson Reuters, Silicon Valley Bank, Amazon Web Services, Intel, SIX Financial Information, Goodwin Procter and .406 Ventures. The organization, which facilitates free access to financial data and infrastructure for up-and-coming global financial technology firms, says it takes no fees and requires no equity from participating startups.
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Other data providers include FactSet, StockTwits and Quovo.
According to a recent report, there are some 4,000 fintech firms worldwide that have received about $25 billion in investments.