Fintech71 Accelerator selects initial 10 companies


Ohio-based Fintech71 Accelerator has selected its initial group of ten FinTech companies for its programme.

Over the next ten weeks the companies will receive $100,000 in exchange for a ‘stage-appropriate’ equity stake. Other perks include access to C-level decision makers, over 100 mentors, technical advisory, six-month free office space in downtown Columbus.

Through the programme the companies will also be introduced to potential clients and stakeholders from across the US including site visits to Cleveland and Cincinnati.

Fintech71, which is supported by JobsOhio, is a non-profit accelerator and aims to grow the economy and bring jobs and investment to Ohio. The programme is designed to accelerate access to financial services companies and expand pipeline innovation for private-sector stakeholders.

In order to be selected for the accelerator the startups has to have at least one FinTech product or solution prototype in the market and have at least two team members attend the entire programme in person.

Fintech71 Matt Armstead executive director said, “…half of the teams are international and represent specialties ranging from blockchain to personal finance. We believe our 10-week program will provide an ideal springboard for these companies to graduate from emerging startups to scalable businesses, especially with access to many Fortune 500 and Fortune 1000 partners across Ohio.”

Companies included to the accelerator are:

Billon (UK) – Blockchain-based payments platform (raised $2m last December).

Elafris (US/San Francisco) – AI/virtual insurance agent.

Hexanika (India/NYC) – End-to-end RegTech and Big Data automation for banks.

ID-Pal (Ireland) – KYC authentication and onboarding solution.

James (Portugal/NYC) – Machine learning credit risk solution for banks (collected $2.7m early this year).

LateShift (US/Atlanta) – Income optimization tool for independent workforce.

PayKey (Israel) – White-label money transfer to anyone on any social platform (landed $6m funding round in June).

SafeChain (US/Ohio) – Title insurance optimization via blockchain.

SKOOKii (US/Phoenix) – All-in-one payment platform for K-12 schools.

“Stealth” stage (US/Ohio) – Commercial insurance technology for agents.

Copyright © 2017 FinTech Global

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